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Brad Gerstner rose to prominence in the tech investment scene for his early lucrative bets in Snowflake and Meta Platforms , and he’s showing no signs of slowing down. The tech investor launched his investment firm Altimeter Capital in the depths of the 2008 financial crisis with less than $3 million raised from his family and friends. Now Altimeter has grown into a tech juggernaut with $15 billion in assets under management across a number of venture and hedge funds. The Harvard Business School grad is known for being an anchor, sponsor and an investor in initial public offerings, participating in high-profile market debuts such as Southeast Asia’s ride-hailing and food delivery app Grab . Gerstner led a Series C investment in cloud company Snowflake, which went public in the largest software IPO of 2020. Snowflake was still Altimeter’s biggest holding by far at the end of the third quarter, with a stake worth more than $2 billion. Altimeter has also been an on-and-off investor in Meta Platforms since the early 2010s. As a top 15 institutional investor, Gerstner wrote a critical open letter in October 2022, saying the company needed to slash headcount and stop spending so much money on metaverse. Meta bounced back fiercely from a disappointing 2022 as CEO Mark Zuckerberg declared that 2023 would be the company’s ” year of efficiency ” with hefty cost cuts at the top of his agenda. The stock is up about 195% for in 2023, on pace for its best year ever. Gerstner became massively bullish on artificial intelligence this year, betting that the power of the advanced technology could even trump the internet. The widely followed tech investor called the rise of AI a “super-cycle” just like the dot-com boom in the late 1990s. He owns Microsoft and Nvidia as some of its biggest bets in the AI space. Last month, Gerstner said he has reduced exposure on the stock market after this year’s rally, but he remains bullish on American companies. Gerstner said he’s grown hopeful about the coming years as the Federal Reserve wraps up its tightening cycle. He added that the IPO pipeline looks “chock full” for the three quarters ahead.
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