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Ted Schlein’s Ballistic Ventures seeks $490M for new funds amid AI-driven cybersecurity boom
Cybersecurity-focused Ballistic Ventures is seeking to raise $360 million for a new flagship fund and another $130 million for a separate investment vehicle.
Ballistic Ventures, the cybersecurity-focused venture capital firm co-founded by former Kleiner Perkins partner Ted Schlein (pictured above, second from the right), is seeking to raise $490 million across two new funds, TechCrunch has learned through regulatory filings.
The San Francisco-based VC 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.
The fundraising plans come as the growing use of artificial intelligence has raised concerns about more sophisticated cyberattacks. The rise of AI agents has also created new opportunities for cybersecurity startups and the venture capital firms backing them.
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