Ballistic Ventures is seeking to raise $490 million across two new funds. The cybersecurity-focused venture firm filed with the U.S. Securities and Exchange Commission this week. The filing includes a $360 million third flagship fund and a $130 million separate vehicle called Ballistic Ventures Fund B.
Fund details
The third flagship fund matches the size of the fund Ballistic raised in 2024. The separate Fund B targets a similar amount to the prior Fund A. Neither new fund had recorded any sales when the filings were made.
Firm background
Ballistic was founded in late 2021. Its founding team includes Ted Schlein, Barmak Meftah, and Roger Thornton. Schlein spent more than two decades at Kleiner Perkins.
AI-driven demand
U.S. cybersecurity startups raised $11.5 billion in 2025. AI-enabled companies accounted for about 72% of U.S. cybersecurity venture deals through May 2026. Microsoft warned that hackers are using AI for phishing, social engineering, and malware development.
Ballistic previously raised a separate vehicle called Fund A. The new Fund B targets a similar amount. The firm declined to comment on its fundraising plans.
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