Business · Companies · 5 hrs ago
Ballistic Ventures seeks $490 million for two new funds
San Francisco-based Ballistic Ventures is seeking $490 million across two funds to invest in cybersecurity companies.
The firm plans to raise $360 million for its third flagship fund and $130 million for a separate vehicle called Fund B. Neither fund had recorded any sales when the firm filed with US regulators this week.
Founded in 2021, Ballistic has backed cybersecurity companies, including some later acquired by Palo Alto Networks and CrowdStrike.
Growing AI use is reshaping cybersecurity, creating opportunities for startups while also helping hackers work faster and at greater scale.
US cybersecurity startups raised $11.5 billion in 2025, the highest total since 2022, and AI-enabled firms made up about 72% of US cybersecurity venture deals through May this year.
Ballistic has not commented on its plans, and the filings do not say when the fundraising will be completed.
Ballistic Ventures is seeking to raise $490 million across two new funds, according to regulatory filings reported by TechCrunch.
The San Francisco-based firm filed to raise $360 million for its third flagship fund and $130 million for a separate vehicle, Ballistic Ventures Fund B.
Neither fund had recorded any sales at the time of filing.
The fundraising comes as artificial intelligence is creating cybersecurity risks and opportunities for startups.
Ballistic Ventures declined to comment on its fundraising plans.
- Who
- Ballistic Ventures, a cybersecurity-focused venture capital firm co-founded by Ted Schlein.
- What
- It is seeking to raise $490 million across two new funds.
- When
- The firm filed with the U.S. Securities and Exchange Commission this week; the article was published on November 3, 2026.
- Where
- San Francisco, California; the filings were made with the U.S. Securities and Exchange Commission.
- Why
- The firm is raising funds as AI use raises concerns about cyberattacks and creates opportunities for cybersecurity startups.
This story does not have two clearly opposing sides.
Ballistic Ventures was founded.
The firm announced its $300 million debut fund.
Ballistic raised $360 million for its second flagship fund.
The firm filed to raise $360 million for its third flagship fund and $130 million for Ballistic Ventures Fund B.
- Total sought
- $490 million
- Third flagship fund target
- $360 million
- Fund B target
- $130 million
- Previous flagship fund
- $360 million, raised in 2024
- Debut fund
- $300 million, announced in 2022