Ballistic Ventures, a VC company co-founded by Ted Schlein (known for his year at Kleiner Perkins), has raised $100 million for the new fund.
This week, the San Francisco-based VC company filed to raise a new fund with the U.S. Securities and Exchange Commission, just $360 million since closing its second fund.
Ballistic Target Cybersecurity Startup Founded in the second half of 2021. In a previous interview, Schlein (photo above, fourth from left) told TechCrunch that the ballistic crew with years of experience is extremely practical. They take seats on the board, help with hiring, land the first 10 customers, and talk “more times a week” with the portfolio founder. The team brings a large contact network for portfolio companies, Schlein said.
Along with Shrine, the company has four other common partners. Kevin Mandeer, Barmac Meft, Jake Said and Roger Thornton. Last year, he appointed former USPS Ciso Gregory Crabb to Ciso-in-Residence, filling in the position of David Hahn, who was promoted to Ballistic's CISO operational partner.
Ballistic has invested in 59 startups per Crunchbase so far, with GetReal Labs' $17.5 million Series A round being the latest round, announced last week. The company also took six exits.
According to a CrunchBase News report, cybersecurity venture funding rose 43% year-on-year to close in 2024, with 639 transactions closed.
Ballistics declined to comment on the funding.