Altimeter Capital
Altimeter Capital is an American investment firm based in Boston, Massachusetts and Menlo Park, California. The firm focuses on technology investments in both public and private markets globally.
Background
In 2008, Brad Gerstner founded Altimeter Capital in Boston, Massachusetts. It was launched with less than $3 million from Gerstner's friends and family during the 2008 financial crisis. Prior to that, Gerstner worked at PAR Capital Management as well as General Catalyst.A month after the launch of Altimeter Capital, an office was opened in Menlo Park, California.
In 2013, Altimeter Capital closed its first venture capital fund at $75 million.
In September 2020, Altimeter Growth Corp was listed on the Nasdaq raising $450 million. AGC is a SPAC which is a blank-check company. In April 2021 it was announced that AGC would merge with Singapore ridesharing company, Grab to help it list on Nasdaq under the ticker, GRAB.
In January 2021, a second SPAC, Altimeter Growth Corporation 2 was listed on New York Stock Exchange raising $450 million. It was terminated early in December 2022 due to its inability to secure a suitable merger deal.
Business overview
For public markets, Altimeter Capital manages a long / short public equity fund that invests in technology companies. The public equity fund is noted for its strong performance, averaging annual returns of 29.52% from 2011 to 2021.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.