Ted Schlein’s Ballistic Ventures seeks $490M for new funds amid AI-driven cybersecurity boom
techcrunch ·
Ballistic Ventures, a San Francisco-based cybersecurity venture capital firm co-founded by former Kleiner Perkins partner Ted Schlein, is seeking to raise $490 million across two new funds. Regulatory filings indicate the firm aims to secure $360 million for its third flagship fund and an additional $130 million for a separate vehicle known as Ballistic Ventures Fund B. This fundraising effort coincides with a surge in AI-driven cybersecurity threats, which has created significant opportunities for security startups. The rise of artificial intelligence agents has led to more sophisticated cyberattacks, prompting increased investment in defensive technologies. Ballistic Ventures, established in late 2021, has previously backed notable companies such as Talon Cyber Security and Pangea. Industry data shows that AI-enabled companies accounted for approximately 72% of U.S. cybersecurity venture deals through May 2026. Microsoft recently warned that hackers are leveraging AI to execute phishing and malware attacks at greater scale and speed. Despite the growing market interest, Ballistic Ventures declined to comment on its current fundraising plans.
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