The New $75 Million Venture Fund That Will Invest Heavily in Travel Startups
Brad Gerstner, a serial angel investor in travel, and the hedge fund he founded and runs, Altimeter Capital, just closed on a $75 million venture capital fund that will be heavily involved in funding travel startups.
Gerstner, who founded hotel-search startup Room 77, tells Skift he will continue his personal angel investment blitz (Room 77, HotelTonight, Nor1, SilverRail Technologies, Space Monkey, Fundly, Farecast and Zillow) when the funding is $100,000 or less, but larger investments into private companies will come out of Altimeter’s new venture capital fund.
“This gives us a lot more dry powder,” Gerstner says.
The fund officially will target travel, Internet, software, and general consumer sectors, but you can expect there to be a heavy dose of travel as Gerstner says “there are a lot of companies at the intersection of internet software and travel.”