Ballistic Ventures Seeks $490 Million for New Cybersecurity Funds
Cybersecurity venture capital firm Ballistic Ventures has filed with the SEC to raise $490 million across two new vehicles. The target includes $360 million for its third flagship fund and $130 million for 'Ballistic Ventures Fund B.' This fundraising effort comes amid a surge in cybersecurity investment, driven largely by the dual impact of AI-enabled cyberattacks and the emergence of new security technologies. Founded by former Kleiner Perkins partner Ted Schlein alongside industry veterans Barmak Meftah and Roger Thornton, the firm has a track record of backing companies like Talon Cyber Security (acquired by Palo Alto Networks) and Pangea (acquired by CrowdStrike). The move aligns with broader market trends where AI-enabled cybersecurity deals now represent a significant majority of venture activity in the sector.