News Summary

Ballistic Ventures, the venture capital firm co-founded by Ted Schlein, is in the process of raising $100 million for a new fund. The San Francisco-based firm, known for its focus on cybersecurity startups, filed with the U.S. Securities and Exchange Commission to raise the new fund. This move comes just over a year after closing its second fund of $360 million. Ballistic Ventures, founded in late 2021, has invested in 59 startups and has seen six exits. The firm’s approach is hands-on, involving board participation and operational support for its portfolio companies. The fundraising effort aligns with a broader trend of increased venture funding in cybersecurity, which grew by 43% to $11.6 billion in 2024.