Ted Schlein’s Ballistic Ventures seeks $490M for new funds amid AI-driven cybersecurity boom

Ballistic Ventures, a San Francisco-based venture capital firm co-founded by former Kleiner Perkins partner Ted Schlein, is seeking to raise $490 million through two new funds, according to SEC filings. The firm plans to raise $360 million for its third flagship fund, matching its 2024 fund, and $130 million for a separate vehicle called Ballistic Ventures Fund B. This fundraising effort comes as the growing use of artificial intelligence raises concerns about more sophisticated cyberattacks and creates new opportunities for cybersecurity startups. Founded in late 2021, Ballistic Ventures has backed companies such as Talon Cyber Security (acquired by Palo Alto Networks) and Pangea (acquired by CrowdStrike). U.S. cybersecurity startups raised $11.5 billion in 2025, the highest since 2022, with AI-enabled companies accounting for about 72% of deals through May this year, according to a JPMorgan Chase report citing PitchBook data. Microsoft has also warned that hackers are increasingly using AI for activities like phishing and malware development. Ballistic Ventures declined to comment on its fundraising plans.

(Source：TechCrunch)