Published on November 17, 2023, 2:42 am

Ballistic Ventures, a reputable venture capital firm specializing in cybersecurity startups, has recently filed a regulatory document indicating their intention to raise up to $300 million for a new fund. This comes after the successful launch of their first fund, which also amounted to $300 million, in May 2022. The San Francisco-based company aims to support and nurture early-stage cybersecurity and cyber-related startups.

Co-founded by Ted Schlein, a general partner at Kleiner Perkins, along with Barmak Meftah, Jake Seid, Roger Thornton as general partners, and Kevin Mandia as the strategic partner from Mandiant (the creator of FireEye), Ballistic Ventures has quickly established itself as an influential player in the field. Additionally, former U.S. National Cyber Director Chris Inglis and former chief of staff for U.S. cybersecurity agency CISA Kiersten Todt have been appointed as advisors.

To date, Ballistic Ventures has already invested in twelve startups according to information available on their website. In fact, the company proudly highlights that it has played a vital role in founding, operating, and funding over 90 cybersecurity firms throughout its history. Notable investments include AuthMind, Oligo, and Nudge Security.

Although investment in cybersecurity this year has not reached the record highs of previous years, industry experts remain optimistic regarding its future growth prospects. Pitchbook data shared with TechCrunch indicates that global venture funding for cybersecurity startups dropped by over 14% to $2.4 billion during the third quarter of 2023 compared to the same period last year. Moreover, there was also a decrease in the number of deals made from 248 to 198.

Despite these statistics, the ever-expanding digital economy and the increasing prevalence of cyberattacks and online crimes continue to drive investor interest in cybersecurity startups. These ventures are expected to leverage advancements in generative AI technology and cloud deployments.

In conclusion, Ballistic Ventures’ planned capital raise of up to $300 million indicates a strong vote of confidence in the growth potential of the cybersecurity industry. With their impressive track record and experienced team, they are well-positioned to continue supporting innovative startups and contribute to the advancement of generative AI and cloud-based solutions in cybersecurity.

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