Ballistic Ventures Targets $490M Across Two New Funds as AI Fuels Cybersecurity Demand
By James Dargan · · 1 min read
Ballistic Ventures, the cybersecurity-focused venture firm co-founded by former Kleiner Perkins partner Ted Schlein, is seeking $490 million across two new funds, according to filings with the U.S. Securities and Exchange Commission.
The San Francisco-based firm aims to secure $360 million for its third flagship fund, matching the size of its 2024 fund, and $130 million for a separate vehicle called Ballistic Ventures Fund B. Neither had recorded any sales at the time of filing, and the firm declined to comment.
The plans come as AI drives concerns over more sophisticated cyberattacks while the rise of AI agents opens new opportunities for security startups. Microsoft warned in its latest Digital Defense Report that hackers are increasingly using AI for phishing, social engineering and malware development, enabling faster attacks at greater scale. A JPMorgan Chase report found AI-enabled companies accounted for about 72% of U.S. cybersecurity venture deals through May, up from 36% in 2019.
Founded in late 2021 by Schlein, former AT&T Cybersecurity president Barmak Meftah and Fortify Software and AlienVault co-founder Roger Thornton, Ballistic has backed Talon Cyber Security, acquired by Palo Alto Networks, and Pangea, bought by CrowdStrike, along with Armadin, GetReal, Nudge Security and Oligo Security.
Featured image: Credit: Ballistic Ventures
