Ballistic Ventures Shoots for $300M Cybersecurity Fund 

Cybersecurity-focused Ballistic Ventures is targeting a $300 million raise for its second fund, a year after the firm launched its debut fund of the same size in May 2022, according to a filing with the U.S. Securities and Exchange Commission. 

The San Francisco-based firm does not expect the new fundraise to last more than a year, according to the filing. 

Ballistic Ventures focuses on early-stage cybersecurity and cyber-related startups. The firm is co-founded by Ted Schlein, a general partner at Kleiner Perkins, along with other GPs Barmak Meftah, Jake Seid and Roger Thornton.  

Ballistic says it has founded, operated and funded over 90 cybersecurity firms, according to its website. “Entrepreneurs need more than money from an industry that has become too complex for general investors who simply dabble in it”, it said. 

To date, the company has invested in AuthMind, Oligo, and Nudge Security, among others.