OpenAI Backer Altimeter Targets More Than $3 Billion for Private Markets Funds

Altimeter Capital Management, a prominent OpenAI and Anthropic PBC investor, is raising a set of new funds for its private markets investment work.The firm is targeting a $2.5 billion new venture capital fund to back late-stage, pre-IPO companies, according to securities filings and a person familiar with the matter. Altimeter is also in discussions to raise around $800 million to $900 million for a new venture fund that will back a diverse group of younger startups, according to the person, who