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.

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

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