Altimeter

Altimeter Capital Research Overview Altimeter Capital is a technology-focused investment firm founded in 2008 by Brad Gerstner. Based in Menlo Park, California with offices in Boston, Massachusetts, Altimeter manages a diverse portfolio spanning public equity and growth-stage private investments. The firm has grown from a $3 million fund launched during the 2008 financial crisis to managing approximately $20 billion in assets. Investment Thesis & Philosophy Altimeter is built on the principle of being "founder-built, technology-focused." The firm's mission is to help visionary entrepreneurs build iconic companies, disrupt markets, and improve lives through all stages of growth. Gerstner founded Altimeter with the belief that the best investments come from backing exceptional founders in transformational technology companies that can scale across multiple markets. The firm takes a long-term partner approach, providing not just capital but operational expertise and public market knowledge. This is evidenced by their deep expertise in enterprise software, marketplaces, and technology infrastructure. They seek to be expert long-term partners to companies as they scale and eventually enter public markets. Investment Focus & Sectors Altimeter maintains broad investment focus across technology sectors: Primary Focus Areas: Enterprise Software & SaaS : Deep expertise in B2B software, data infrastructure, and cloud platforms Public Market Technology Companies : Large positions in public tech (Snowflake, Uber, Meta, Microsoft, NVIDIA) Growth-Stage Ventures : Series A and beyond focus in proven-out technology companies Developer Tools & Infrastructure : APIs, observability, data infrastructure, cloud services Marketplaces : E-commerce and business service marketplaces AI & Machine Learning : Recent focus on AI infrastructure and language models (Anthropic investment) Stage Focus & Check Size Stage Focus: Primary: Series A and growth-stage (with $1M-$25M check size) Secondary: Seed and pre-seed (selective) Emphasis on companies with product-market fit seeking growth capital Also invests in public markets for mature tech companies Check Size: Current range: $1,000,000 - $25,000,000 for private investments Average Series A investment: $8M-$15M range Maintains flexibility for follow-on investments and reserves Public market positions can be significantly larger Lead Tendency & Decision Process Lead Tendency: Both (Leads and Follows) Altimeter actively leads Series A and growth-stage rounds, establishing board seats and maintaining deep involvement. They also participate in syndicated rounds with strong co-investors, evidenced by their diverse portfolio across multiple verticals. Decision Process: Partnership Model With Brad Gerstner as founder/CEO and a lean partnership team including John Kiernan (Managing Partner/CFO), Meghan Reynolds (Managing Partner), and sector-focused partners, Altimeter employs a collaborative partnership approach. Key investment decisions typically involve this core leadership team. Recent Activity & Fund Status Fund Status: Actively Deploying Altimeter demonstrates continuous deployment across both public and private markets. Recent Investments (2025-2026): February 2026: Cerebras Systems (AI semiconductors) January 2026: Inferact (Seed VC investment) January 2026: LiveKit and Parloa Technologies (recent deploments) Ongoing: Investments across AI infrastructure, enterprise software, and marketplaces Portfolio Performance: Public equity fund: Average annual returns of ~29.5% since 2011 Notable exits and IPOs: Snowflake (major public holding, ~7.2% of portfolio), Uber (~7.2%), Meta, NVIDIA Portfolio size: 133+ investments as of early 2026 Notable Recent Portfolio Milestones: Continued large positions in public market winners (Snowflake, Uber, Meta, Microsoft, NVIDIA, Amazon) Active in AI infrastructure trend with Anthropic investment Consistent deployment in growth-stage companies across multiple sectors Summary Altimeter Capital is a mature, well-established technology investment firm with a unique "crossover" model spanning public equities and private growth-stage investments. Founded by technology enthusiast Brad Gerstner in 2008, the firm combines public market investing expertise with deep operational knowledge of scaling technology companies. With offices in Silicon Valley and Boston, and a lean partnership model, Altimeter backs transformational technology companies across enterprise software, marketplaces, and infrastructure. The firm's $20B+ AUM, strong public market returns, and diverse portfolio of 133+ investments demonstrate their consistent ability to identify and support exceptional founders building category-defining companies. Altimeter's model of taking founder-aligned, long-term approaches to investing—combined with public market expertise—positions them as premier capital partners for technology companies seeking growth-stage investment and strategic guidance. Key Differentiators Crossover Expertise : Unique combination of public equity investing and venture capital experience Founder-Built : Brad Gerstner's personal investment and reputation drives deal flow Long-Term Partnership : Known for staying invested through multiple stages and public markets Public Market Knowledge : Can advise companies on IPO preparation and public company operations Concentrated Portfolio : Deep expertise in technology sectors rather than broad generalist approach