Ballistic Ventures, co-founded by former Kleiner Perkins partner Ted Schlein, is seeking to raise $490 million across two new funds. The San Francisco-based firm filed with the SEC to raise $360 million for its third flagship fund and $130 million for Ballistic Ventures Fund B. The fundraising plans come amid an AI-driven cybersecurity boom, with AI-enabled companies accounting for 72% of U.S. cybersecurity venture deals this year.
Founded in late 2021, the firm's founding team includes Schlein, Barmak Meftah, and Roger Thornton. Ballistic has backed companies including Talon Cyber Security, acquired by Palo Alto Networks, and Pangea, bought by Crowd Strike. The firm's ties to storied venture capital firm Kleiner Perkins help set it apart from rivals.
In 2022, Ballistic announced its $300 million debut fund and raised another $360 million for its second flagship fund two years later. It also raised about $130 million for a separate vehicle called Ballistic Ventures Fund A. U.S. cybersecurity startups raised $11.5 billion in 2025, the highest since 2022. Microsoft warned that hackers are increasingly using AI for activities ranging from phishing to malware development.
Ballistic Ventures declined to comment on its fundraising plans.
Source: TechCrunch Venture · Summarized by HeadlinesBriefing