Ballistic Ventures, the VC agency co-founded by Ted Schlein (recognized for his years at Kleiner Perkins), is elevating $100 million for a brand new fund, TechCrunch has discovered via a regulatory submitting.
This week, the San Francisco-based VC agency filed with the U.S. Securities and Exchange Commission to lift the brand new fund, simply over a 12 months after closing its second fund, sized at $360 million.
Founded in late 2021, Ballistic targets cybersecurity startups. In an earlier interview, Schlein (pictured above, fourth from left to proper) advised TechCrunch that the Ballistic crew, with its years of expertise, may be very hands-on. They take board seats, assist with hiring and with touchdown the primary 10 clients, speaking to their portfolio founders “many occasions every week.” The staff brings a big community of contacts to their portfolio firms, Schlein stated.
Alongside Schlein, the agency has 4 different normal companions: Kevin Mandia, Barmak Meftah, Jake Seid, and Roger Thornton. Last 12 months, it appointed former USPS CISO Gregory Crabb as CISO-in-residence to fill the place of David Hahn, who was promoted to Ballistic’s CISO working accomplice.
Ballistic has thus far invested in 59 startups, per Crunchbase, with GetReal Labs’ $17.5 million Series A spherical being the most recent — introduced final week. The agency additionally made six exits.
Venture funding in cybersecurity grew 43% year-over-year to $11.6 billion in 2024, with 639 offers closed, in comparison with 821 in 2023, per a report by Crunchbase News.
Ballistic declined to touch upon the fundraising.
