Ted Schlein’s Ballistic Ventures seeks $490M for new funds amid AI-driven cybersecurity boom

Cybersecurity-focused VC firm Ballistic Ventures, co-founded by former Kleiner Perkins partner Ted Schlein, is seeking to raise $490 million across two new funds. The funds will be used to invest in AI-driven cybersecurity startups, which are becoming increasingly important as AI agents create new opportunities and threats. Ballistic Ventures has backed companies such as Talon Cyber Security and Pangea, and has ties to Kleiner Perkins, which could give it an advantage in the market. The firm's investment strategy is similar to that of other cybersecurity-focused investors, including Forgepoint Capital and Ten Eleven Ventures.