Ballistic Ventures seeks $490M for new cybersecurity funds
Ballistic Ventures, a cybersecurity-focused venture capital firm co-founded by former Kleiner Perkins partner Ted Schlein, is raising $490 million across two new funds, according to SEC filings. The firm aims to raise $360 million for its third flagship fund, matching its previous fund size, and $130 million for a separate vehicle called Ballistic Ventures Fund B. This fundraising comes amid an AI-driven boom in cybersecurity, with AI agents creating new opportunities for startups and investors. Ballistic's portfolio includes companies like Talon Cyber Security and Pangea, which were acquired by Palo Alto Networks and CrowdStrike respectively. The firm's ties to Kleiner Perkins and its investment strategy similar to other cybersecurity-focused VCs like Forgepoint Capital and Ten Eleven Ventures are noted. U.S. cybersecurity startups raised $11.5 billion in 2025, with AI-enabled companies accounting for a significant share of deals.
