Former Kleiner Perkins Partner Ted Schlein's Ballistic Ventures Files to Raise $490M Amid AI-Driven Cybersecurity Boom
Ballistic Ventures filed with the US SEC to raise $490 million across two new funds, targeting opportunities created by AI-enhanced cyber threats.
According to TechCrunch, Ballistic Ventures, a cybersecurity-focused venture capital firm, has filed with the U.S. Securities and Exchange Commission (SEC) to raise a total of $490 million. The fundraising plan involves $360 million for its third flagship fund and another $130 million for a separate vehicle called "Ballistic Ventures Fund B." Neither fund had recorded any sales at the time of filing.
Ballistic Ventures was co-founded in late 2021 by former Kleiner Perkins partner Ted Schlein, former AT&T Cybersecurity president Barmak Meftah, and Roger Thornton. This move comes as the growing use of artificial intelligence raises concerns about more sophisticated cyberattacks. The rise of AI agents has also created new opportunities for cybersecurity startups and the venture capital firms backing them.
A recent report by JPMorgan Chase, citing PitchBook data, noted that U.S. cybersecurity startups raised $11.5 billion in 2025, the highest since 2022. The report stated that AI-enabled companies accounted for about 72% of U.S. cybersecurity venture deals through May this year, compared with 36% in 2019. Separately, Microsoft's annual Digital Defense Report warned that hackers are increasingly using AI for activities ranging from phishing and social engineering to malware development.