Ballistic Ventures closes $360m oversubscribed Fund II to fuel next gen of cybersecurity innovation

Ballistic Ventures, a venture capital firm dedicated to early-stage cybersecurity and cyber-related companies, has announced the close of its oversubscribed $360 million second fund. Fund II for Ballistic Ventures reinforces its commitment to exclusively fund and incubate entrepreneurs and innovations shaping the future of our cybersecurity.

The global cybersecurity total addressable market (TAM) is projected to reach $1.5 trillion to $2 trillion, approximately 10 times the vended market, according to a survey from McKinsey & Company. In a sector with promising tailwinds, Ballistic Ventures is set apart by the expertise of its team. Led by Founding Partners Kevin Mandia, Barmak Meftah, Ted Schlein, Jake Seid, and Roger Thornton, the group has collectively founded, funded or operated over 100 cybersecurity firms. Ballistic's specialized focus gives founders access to leaders who not only comprehend the nuances of building and scaling cybersecurity startups, but can also provide the essential VC support to set them on the right trajectory.

Since Ballistic's launch two years ago and the close of its inaugural $300 million fund, the firm has now invested in 18 revolutionary companies tackling challenges such as safeguarding the use of AI, mitigating disinformation, and securing applications, code, connected devices, data, identity, SaaS services, and more. In 2023, the VC firm was named by SC Media as "Investor of the Year." Ballistic also supported the successful exit of portfolio company Talon Cyber Security, which was acquired by Palo Alto Networks in the largest venture-backed cybersecurity startup acquisition of 2023, according to PitchBook data.

Ted Schlein, General Partner, Ballistic Ventures: "A record-paced technological evolution is happening right before our eyes. Coupled with the dynamics of an election year at home and conflicts unfolding across the world, the imperative for robust cybersecurity has never been more clear. Until we achieve global peace, cybersecurity is too important of an issue to ignore. For us, closing a new fund further fuels our commitment to addressing cyber challenges head-on, and we're looking for visionary entrepreneurs who share our passion and want to partner with us on this critical mission."

In addition to its new fund, Ballistic Ventures is also announcing the promotion of Agnes So to Chief Financial Officer (CFO). Agnes has been instrumental in leading the firm's finance and operations functions since its inception. Prior to Ballistic, she spent more than a decade at Kleiner Perkins and Westlake Village BioPartners, where she played a key role in financial management and investment strategies. She also brings a wealth of experience from her time as an auditor at Deloitte.

"With her extensive experience and a proven track record of financial acumen, we're delighted to have Agnes as part of our team and deeply honored to announce her promotion," added Schlein.

Ballistic Ventures remains steadfast in its commitment to investing in new companies and nurturing its existing portfolio, including through BallisticX, its robust platform of services, support and an advisory network for founders and their teams. 

www.ballisticventures.com