Benchmark Hires Jack Altman as Fifth General Partner, Bringing Alt Capital Team

Benchmark has appointed Jack Altman, founder of Alt Capital and the HR software company Lattice, as its fifth general partner, marking a significant addition to the venture capital firm's team. The move brings three members of the Alt Capital team with him to Benchmark, strengthening the firm's early-stage investment capabilities.

The appointment comes at a time when the venture capital landscape is experiencing significant shifts, with firms looking to strengthen their teams with experienced operators who have built successful companies. Altman's background as both a founder and investor positions him uniquely to identify and support promising startups.

Jack Altman founded Lattice in 2015, building it into a leading HR software platform that helps companies manage performance reviews, employee engagement, and career development. The company has raised significant funding and serves hundreds of customers globally. His experience scaling Lattice from inception to a major enterprise software provider gives him deep insights into what it takes for startups to succeed.

Before joining Benchmark, Altman founded Alt Capital, an early-stage venture firm that invested in promising startups. His track record includes backing companies that have gone on to achieve significant success, demonstrating his ability to identify promising opportunities in the market.

Benchmark, known for backing companies like Uber, Twitter, and Snap, has maintained a relatively small partnership structure, making this addition particularly noteworthy. The firm's strategy of keeping its partnership tight while bringing in partners with strong operational backgrounds has been a key part of its success.

The three Alt Capital team members joining Altman at Benchmark will likely bring additional investment expertise and deal flow, enhancing the firm's ability to source and evaluate early-stage opportunities. This consolidation of talent from Alt Capital into Benchmark represents a strategic move to combine operational experience with Benchmark's established investment platform.

This hire reflects broader trends in venture capital, where firms are increasingly valuing partners with recent founder experience who can provide practical guidance to portfolio companies. Altman's dual perspective as both a founder who has raised capital and an investor who has deployed it gives him unique credibility with entrepreneurs.

The timing of this announcement is interesting given the current market conditions, with many venture firms adjusting their strategies in response to economic uncertainty. Benchmark's decision to expand its partnership suggests confidence in the long-term opportunities in the venture market despite short-term challenges.

Altman's addition to Benchmark continues the trend of successful founders transitioning into venture capital roles, bringing their operational expertise and networks to help the next generation of entrepreneurs. His experience building Lattice through various growth stages will be particularly valuable for Benchmark's portfolio companies navigating similar challenges.

The move also highlights the ongoing consolidation in the venture capital industry, where successful smaller firms and individual investors are being absorbed into larger, more established platforms. This trend is likely to continue as the venture market matures and competition for the best deals intensifies.

For the broader startup ecosystem, having more partners with recent founder experience at top-tier firms like Benchmark is generally positive, as it means entrepreneurs will have access to investors who truly understand the challenges of building and scaling companies from the ground up.

Benchmark's decision to bring in Altman and his team demonstrates the firm's commitment to maintaining its position as one of the most prestigious and successful venture capital firms in the industry, even as the market evolves and new challenges emerge.