Ballistic Ventures, the cybersecurity-focused venture capital firm co-founded by Ted Schlein, is seeking to raise $490 million across two new investment vehicles, according to people familiar with the matter. The firm is targeting $360 million for a new flagship fund and an additional $130 million for a separate vehicle, reflecting continued investor appetite for security startups as artificial intelligence reshapes the threat landscape. The fundraising effort comes amid a broader boom in AI-driven cybersecurity, where enterprises are pouring capital into tools designed to defend against increasingly sophisticated, automated attacks.
Ballistic Ventures, which backs early-stage security companies, has positioned itself at the intersection of two of the technology sector's most active investment themes. The surge in AI adoption has expanded both the attack surface for malicious actors and the market for defensive technologies, drawing renewed interest from limited partners. Schlein, a longtime venture capitalist and former Kleiner Perkins partner, has been an outspoken advocate for heightened cybersecurity investment. If completed, the new funds would give Ballistic additional capital to deploy as competition intensifies among firms courting security founders. Representatives for Ballistic Ventures did not immediately respond to a request for comment.
Independent reporting synthesized from primary wires and global correspondents.