Ballistic Ventures seeks $490M for new cybersecurity funds
Cybersecurity VC firm Ballistic Ventures has filed with the U.S. SEC to raise $490 million across two new funds amid the AI boom.
Stock photo for illustration only, not from the actual event
- Ballistic Ventures filed with the U.S. SEC to raise a total of $490 million
- The target includes $360 million for its third flagship fund and $130 million for Fund B
- The fundraising comes amid growing concerns over AI-driven cyber threats
- The firm was founded in late 2021 by former Kleiner Perkins partner Ted Schlein
Ballistic Ventures, a cybersecurity-focused venture capital firm co-founded by former Kleiner Perkins partner Ted Schlein, is looking to raise $490 million across two new funds, according to regulatory filings.
The San Francisco-based firm filed with the U.S. Securities and Exchange Commission this week to raise $360 million for its third flagship fund, matching the size of its previous fund raised in 2024, and another $130 million for a separate vehicle called Ballistic Ventures Fund B. Neither fund had recorded any sales at the time of filing.
Stock photo for illustration only, not from the actual event
The fundraising plans arrive as the expanding adoption of artificial intelligence raises concerns about more sophisticated cyberattacks. The rise of AI agents has also generated fresh opportunities for cybersecurity startups and the venture capital firms backing them.
"Ballistic's ties to storied venture capital firm Kleiner Perkins help set it apart from rivals."
A cybersecurity investor at another VC firm
Established in late 2021, Ballistic's founding team features Schlein, former AT&T Cybersecurity president Barmak Meftah, and Roger Thornton, who co-founded security companies Fortify Software and AlienVault. The firm has backed companies such as Talon Cyber Security, acquired by Palo Alto Networks, and Pangea, bought by CrowdStrike, alongside startups like Armadin, GetReal, Nudge Security, and Oligo Security.
Ballistic Ventures' ability to attract massive capital underscores strong investor confidence in Silicon Valley toward founding teams with proven track records like Ted Schlein. Coupled with surging global demand for AI-driven defense mechanisms, specialized cybersecurity venture firms are positioned as crucial drivers in modernizing enterprise defense against evolving threat actors.
In 2022, Ballistic announced its $300 million debut fund and raised another $360 million for its second flagship fund two years later, alongside raising about $130 million for a separate vehicle called Ballistic Ventures Fund A, per PitchBook data.
U.S. cybersecurity startups raised $11.5 billion in 2025, marking the highest figure since 2022, a recent report by JPMorgan Chase said, citing PitchBook data. AI-enabled companies accounted for roughly 72% of U.S. cybersecurity venture deals through May this year, compared with 36% in 2019, according to the report.
Separately, Microsoft warned in its annual Digital Defense Report released last month that hackers are increasingly employing AI for activities ranging from phishing and social engineering to malware development. The technology enables attackers to operate faster and at a larger scale, even though many underlying techniques remain unchanged. Ballistic Ventures declined to comment on its fundraising plans.
Source: TechCrunch
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