Altimeter Capital Management is raising $3.3 billion to $3.4 billion for new private-market funds, including a $2.5 billion venture fund for late-stage, pre-IPO companies and an approximately $800 million to $900 million fund for early-stage startups across sectors. The fundraising follows the deployment of Altimeter’s $1.6 billion growth fund and $1.5 billion expansion fund, both closed last year, into high-profile AI companies including OpenAI and Anthropic. Those investments have made Altimeter one of the most prominent backers of frontier AI startups ahead of anticipated public listings. Bloomberg reported the plans, citing securities filings and a person familiar with the matter. Altimeter’s Form ADV filing with the SEC dated March 31, 2026, listed approximately $18.8 billion in regulatory assets under management, $18.0 billion in private fund gross assets, $9.6 billion in hedge fund gross assets and 33 private funds. The firm launched 16 venture capital funds in the 12 months through October 2026, including a $750 million fund in March and a $1.5 billion growth fund in June. Anthropic was identified as its largest private fund investment, while OpenAI was also a major holding. Nvidia represented roughly 19% to 23% of Altimeter’s second-quarter 2026 13F, which reports large managers’ U.S. stock holdings. Founded by Brad Gerstner in 2008 and based in Menlo Park, Altimeter invests across technology-focused public and private markets.