Ted Schlein's Ballistic Ventures Secures $100M for Innovative New Fund Launch

Ted Schlein’s Ballistic Ventures Secures $100M for Innovative New Fund Launch

Ballistic Ventures, a prominent venture capital firm specializing in cybersecurity startups, is set to raise a substantial $100 million for its new fund, as revealed by a recent regulatory filing with the U.S. Securities and Exchange Commission. This move comes just over a year after the firm successfully closed its second fund, which totaled $360 million.

Overview of Ballistic Ventures

Founded in late 2021, Ballistic Ventures has quickly established itself as a key player in the cybersecurity investment landscape. Co-founded by industry veteran Ted Schlein, known for his tenure at Kleiner Perkins, the firm is dedicated to nurturing innovative cybersecurity startups.

Hands-On Approach

In an interview with TechCrunch, Schlein emphasized the firm’s proactive approach. Ballistic’s team is highly involved, offering support in various areas:

  • Taking board seats to guide strategic decisions
  • Assisting portfolio companies with hiring initiatives
  • Helping startups secure their first ten customers
  • Maintaining regular communication with founders

Schlein noted the advantage of leveraging a vast network of contacts to benefit their portfolio companies.

Leadership Team

Alongside Schlein, Ballistic Ventures boasts an experienced team of general partners:

  • Kevin Mandia
  • Barmak Meftah
  • Jake Seid
  • Roger Thornton

Recently, the firm appointed former USPS Chief Information Security Officer Gregory Crabb as CISO-in-residence, succeeding David Hahn, who was promoted to CISO operating partner.

Investment Portfolio and Market Growth

According to Crunchbase, Ballistic Ventures has invested in a total of 59 startups, with the latest being GetReal Lab’s $17.5 million Series A round, announced last week. The firm has also successfully achieved six exits.

Cybersecurity Funding Trends

The cybersecurity funding landscape has seen significant growth, with a remarkable 43% increase year-over-year, reaching $11.6 billion in 2024. This growth is reflected in the closure of 639 deals, compared to 821 in 2023, as reported by Crunchbase News.

READ ALSO  FBI and Dutch Police Dismantle Massive Botnet of Compromised Routers: A Major Cybersecurity Victory

As of now, Ballistic Ventures has declined to comment further on their fundraising efforts, but their commitment to advancing cybersecurity innovation remains clear.

Similar Posts

TalkTalk Launches Investigation into Data Breach Amid Hacker’s Claims of Customer Data Theft

TalkTalk Launches Investigation into Data Breach Amid Hacker’s Claims of Customer Data Theft

Bysupport

TalkTalk, a prominent U.K. telecommunications provider, is dealing with a significant data breach after a hacker claimed to have stolen personal information from millions of its subscribers. The hacker, using the alias “b0nd,” stated they acquired data on over 18.8 million customers, including names, email addresses, and subscriber PINs. TalkTalk’s spokesperson, Liz Holloway, refuted this number, confirming the company’s investigation into the breach, which may involve a third-party supplier, possibly CSG’s Ascendon platform. Fortunately, only a small subset of customer details was affected, with no financial information compromised. TalkTalk previously faced scrutiny for inadequate cybersecurity in 2015.

Blockstream's $75 Million Investment in Komainu: Revolutionizing Institutional Digital Asset Solutions

Blockstream’s $75 Million Investment in Komainu: Revolutionizing Institutional Digital Asset Solutions

Bysupport

Komainu, a regulated digital asset custodian, has secured $75 million in a strategic investment led by Blockstream Capital Partners, pending regulatory approvals. This funding aims to expand Komainu’s global presence and enhance services for institutional clients by integrating innovative technologies. Founded by institutions for institutions, Komainu offers multi-asset support and enterprise-grade governance. The investment will accelerate international growth and technological integration. Additionally, key Blockstream figures will join Komainu’s board to strengthen the partnership. Co-CEOs Paul Frost-Smith and Robert Johnson emphasized the transformative potential of this collaboration in enhancing customer experience and operational efficiency.

Federal Judge Halts DOGE's Access to Social Security Administration's Personal Data Vaults

Federal Judge Halts DOGE’s Access to Social Security Administration’s Personal Data Vaults

Bysupport

A federal judge has blocked Elon Musk’s Department of Government Efficiency (DOGE) from accessing sensitive systems at the Social Security Administration (SSA), citing significant concerns over data privacy and governmental oversight. U.S. District Judge Ellen Hollander criticized DOGE for its “fishing expedition” in fraud investigations, noting it failed to justify its need for access to personal data, including Social Security numbers and medical records. The ruling highlights potential violations of federal privacy laws and cybersecurity risks. Initially, SSA had granted DOGE access, prompting calls for greater accountability in handling sensitive public data.

FBI and Dutch Police Dismantle Massive Botnet of Compromised Routers: A Major Cybersecurity Victory

FBI and Dutch Police Dismantle Massive Botnet of Compromised Routers: A Major Cybersecurity Victory

Bysupport

A recent international law enforcement operation, dubbed “Operation Moonlander,” has dismantled two major services linked to a botnet primarily consisting of compromised routers. The FBI, alongside international partners, indicted four individuals—Alexey Chertkov, Kirill Morozov, Aleksandr Shishkin, and Dmitriy Rubtsov—accused of exploiting vulnerable routers to create a botnet disguised as legitimate proxy services. Their actions reportedly generated over $46 million through illicit activities, such as password spraying and DDoS attacks. The botnet operated globally with approximately 1,000 active proxies across 80 countries, highlighting a significant threat in the cybersecurity landscape.

BlackCloak Secures Funding from The LegalTech Fund: A Game-Changer in Digital Executive Protection

BlackCloak Secures Funding from The LegalTech Fund: A Game-Changer in Digital Executive Protection

Bysupport

BlackCloak, a cybersecurity firm focused on protecting high-profile individuals, has secured a significant investment from The LegalTech Fund, enhancing its capabilities in digital executive protection. The company offers a comprehensive Digital Executive Protection platform designed for corporate leaders and high-net-worth individuals, featuring concierge-style cybersecurity, personal device security, and ongoing support against cyber threats. CEO Dr. Chris Pierson expressed enthusiasm for the partnership, which aims to advance their mission of safeguarding executives and their families. The investment will strengthen BlackCloak’s connections in the legal industry and enhance its service offerings amidst evolving cyber threats.

Apple Removes Multiple Apps Alongside TikTok in the U.S.: Full List Revealed!

Apple Suspends iCloud End-to-End Encryption for UK Users Amid Government Backdoor Demands

Bysupport

Apple has announced the discontinuation of its Advanced Data Protection (ADP) feature for iCloud users in the U.K., raising significant privacy concerns. New users will not have access to ADP, and existing users will eventually need to disable it. The decision follows pressure from the U.K. government for Apple to create a data access backdoor, alarming privacy advocates. ADP provides end-to-end encryption for iCloud backups, ensuring only users can access their data. While Apple expresses disappointment over the decision, it has not clarified how it will impact current ADP users but promises further guidance soon. Experts urge users outside the U.K. to activate ADP.