Ballistic Ventures has announced the close of its oversubscribed $360 million second fund. This milestone reinforces the firm's commitment to exclusively funding and incubating entrepreneurs and innovations that are set to shape the future of cybersecurity.
With the global cybersecurity market projected to reach up to $2 trillion, Ballistic Ventures stands out with a team led by industry veterans like Kevin Mandia, Barmak Meftah, Ted Schlein, Jake Seid, and Roger Thornton. Their collective experience in founding, funding, and operating over 100 cybersecurity firms provides a unique advantage for startups seeking not just capital but also strategic guidance.
Since its inception two years ago, Ballistic Ventures has invested in 18 companies addressing a wide range of cybersecurity challenges, from AI safeguarding to disinformation mitigation. The firm's success is highlighted by its recent recognition as "Investor of the Year" by SC Media and the notable exit of portfolio company Talon Cyber Security, acquired by Palo Alto Networks in the largest venture-backed cybersecurity startup acquisition of 2023.
General Partner Ted Schlein emphasized the importance of cybersecurity in the current global landscape, stating, "A record-paced technological evolution is happening right before our eyes... the imperative for robust cybersecurity has never been more clear." He further expressed the firm's commitment to partnering with visionary entrepreneurs who share their passion for addressing cyber challenges.
In addition to the new fund, Ballistic Ventures announced the promotion of Agnes So to Chief Financial Officer. With her extensive experience in finance and operations, including roles at Kleiner Perkins and Westlake Village BioPartners, So is poised to play a crucial role in the firm's continued growth and success.
The impact of Ballistic Ventures is also reflected in the testimonials from founders of portfolio companies. Lisa Kaplan of Alethea praised the firm's support and strategic guidance, while Oliver Friedrichs of Pangea highlighted the team's deep cybersecurity roots. Garrett Hamilton of Reach Security and Ofer Ben-Noon of Talon echoed these sentiments, emphasizing the unique blend of operational experience and venture expertise that Ballistic brings to the table.
As Ballistic Ventures embarks on this new chapter with Fund II, the firm is poised to further its mission of empowering the next generation of cybersecurity innovators and shaping the industry's future.