Altimeter Capital

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Altimeter Capital Management, LP
TypePrivate
IndustryHedge Fund
Venture Capital
Founded2008; 13 years ago (2008)
FounderBrad Gerstner
HeadquartersOne International Place, Boston, Massachusetts, U.S.
ProductsInvestments
AUMUS$ 20.6 billion (31 March 2021)[1]
Websitewww.altimeter.com
www.altimetergrowth.com

Altimeter Capital is an American investment firm based in Boston, Massachusetts and Menlo Park, California.[2] The firm focuses on technology investments in both public and private markets globally.

Background[]

In 2008, Brad Gerstner founded Altimeter Capital in Boston, Massachusetts.[3] It was launched with less than $3 million from Gerstner's friends and family during the financial crisis of 2008.[3][4] Prior to that, Gerstner worked at PAR Capital Management as well as General Catalyst.[5]

A month after the launch of Altimeter Capital, an office was opened in Menlo Park, California.[3]

In 2013, Altimeter Capital closed its first venture capital fund at $75 million.[2]

In September 2020, Altimeter Growth Corp was listed on the Nasdaq (Ticker: AGC) raising $450 million. AGC is a SPAC which is a blank-check company. On April 2021 it was announced that AGC would merge with Singapore ridesharing company, Grab to help it list on Nasdaq under the ticker, GRAB.[6][7]

In January 2021, a second SPAC, Altimeter Growth Corporation 2 was listed on New York Stock Exchange (Ticker: AGCB) raising $400 million.[8]

Business Overview[]

For public markets, Altimeter Capital manages a long / short public equity fund that invests in technology companies.[9] The public equity fund is noted for its strong performance averaging annual returns of 29.52% since 2011.[9]

For private markets, Altimeter Capital manages private growth equity funds that invest in both early and later stage technology companies. Its first private fund was closed in 2013.[2]

Venture Capital funds[]

Fund[10][11] Vintage Year Committed Capital ($m)
Altimeter Private Partners Fund I 2013 75
Altimeter Private Partners Fund II 2015 225
Altimeter Private Partners Fund III 2017 200
Altimeter Growth Cascade Fund 2020 100
Altimeter Growth Castle Fund 2020 32
Altimeter Growth Lincoln Fund 2021 60

Notable venture capital investments[]

References[]

  1. ^ "FORM ADV" (PDF). SEC.gov.
  2. ^ a b c Kolodny, Lora (2013-08-01). "Altimeter Capital CEO on Travel, Enterprise and the Sharing Economy". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-07-07.
  3. ^ a b c Levy, Ari (November 8, 2013). "Online-Travel King Brad Gerstner Wants Venture Capital Empire". www.bloomberg.com. Retrieved 2021-07-07.
  4. ^ "After Snowflake windfall, Altimeter Capital captures dealmaking spotlight | PitchBook". pitchbook.com. Retrieved 2021-07-07.
  5. ^ "Bradley Gerstner Investor Profile: Portfolio & Exits | PitchBook". pitchbook.com. Retrieved 2021-07-07.
  6. ^ a b Lee, Yoolim (June 9, 2021). "Singapore's Grab Delays Merger Completion to Fourth Quarter". www.bloomberg.com. Retrieved 2021-07-07.
  7. ^ "Grab IPO: what to know and how to buy Grab shares". IG. Retrieved 2021-07-07.
  8. ^ Schubarth, Cromwell (Jan 7, 2021). "Bay Area's first IPO of 2021 raises $400M for an Altimeter Capital SPAC". www.bizjournals.com. Retrieved 2021-07-07.
  9. ^ a b c d e f g h Gaffney, Mark (2020-10-06). "Brad Gerstner's Altimeter Capital has an $8B profit on Snowflake. A new $450M tech SPAC. And annual 13F returns of 30% since 2011". WhaleWisdom Alpha. Retrieved 2021-07-07.
  10. ^ "Altimeter Capital - Venture | Palico". www.palico.com. Retrieved 2021-07-07.
  11. ^ a b c d e f g "After Snowflake windfall, Altimeter Capital captures dealmaking spotlight | PitchBook". pitchbook.com. Retrieved 2021-07-07.
  12. ^ Bhakta, Pratik. "Pine Labs: Actis, Altimeter put $82 million in Pine Labs to grow roots". The Economic Times. Retrieved 2021-07-07.

External links[]

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