Ted Schlein's Ballistic Ventures Raises $100M Fund

Ballistic Ventures Launches New $100 Million Fund

Ballistic Ventures, a venture capital firm established with the involvement of Ted Schlein – a veteran previously associated with Kleiner Perkins – is currently in the process of securing $100 million for a new investment vehicle. This information was obtained through a recent filing with regulatory authorities, as reported by TechCrunch.

Recent Fundraising Activity

The San Francisco-based firm submitted the necessary documentation to the U.S. Securities and Exchange Commission this week to initiate fundraising for the new fund. This move occurs just over one year following the successful closure of their second fund, which totaled $360 million.

Focus on Cybersecurity

Established in late 2021, Ballistic Ventures concentrates its investments on companies operating within the cybersecurity sector. Schlein has previously stated that the firm’s extensive experience allows for a highly engaged, hands-on approach.

Active Portfolio Management

The firm actively participates in the growth of its portfolio companies. This includes taking positions on boards of directors, assisting with recruitment processes, and facilitating the acquisition of initial customers. Portfolio founders reportedly receive frequent communication from the Ballistic team – often multiple times per week.

Extensive Network and Expertise

Ballistic Ventures leverages a substantial network of industry contacts to benefit the companies it invests in, according to Schlein. This network provides valuable resources and connections for portfolio companies.

Leadership Team

Alongside Ted Schlein, the firm’s leadership includes four other general partners: Kevin Mandia, Barmak Meftah, Jake Seid, and Roger Thornton. Recent personnel changes include the appointment of Gregory Crabb, formerly CISO of USPS, as CISO-in-residence.

Investment Portfolio and Exits

As of current data from Crunchbase, Ballistic Ventures has made investments in 59 startups. The most recent investment was a $17.5 million Series A round for GetReal Labs, announced last week. The firm has also successfully completed six exit events.

Cybersecurity Funding Trends

According to a report by Crunchbase News, venture funding in the cybersecurity space experienced a 43% year-over-year increase, reaching $11.6 billion in 2024. However, the number of deals closed decreased to 639, compared to 821 in the previous year.