Ted Schlein’s Ballistic Ventures seeks $490M for new funds amid AI-driven cybersecurity boom
- ID
- 42713
- Status
- summarized
- Published
- 04 Nov 2026, 5:43 AM
- Fetched
- 04 Nov 2026, 7:49 AM
- Provider
- TechCrunch
- Category
- technology
- Original URL
- https://techcrunch.com/2026/11/03/ted-schleins-ballistic-ventures-seeks-490m-for-new-funds-amid-ai-driven-cybersecurity-boom/
- Source URL
- https://techcrunch.com/feed/
Summary
- Score
- 2.5
- Created
- 04 Nov 2026, 7:50 AM
- Tags
- Audience
- saas_foundersdevelopers
What happened
Ballistic Ventures, the cybersecurity VC co-founded by Ted Schlein, filed with the SEC this week to raise $490M across two vehicles: $360M for its third flagship fund (matching its 2024 Fund II) and $130M for a separate 'Ballistic Ventures Fund B.' Neither fund had recorded any sales at filing time. The firm's prior raises were a $300M debut fund in 2022, a $360M second fund in 2024, and roughly $130M for 'Fund A' per PitchBook; exits cited are Talon Cyber Security (to Palo Alto Networks) and Pangea (to CrowdStrike), with current portfolio names including Armadin, GetReal, Nudge Security and Oligo Security. The pitch leans on AI-driven attacks and AI agents expanding the security market, though one investor at another firm told TechCrunch Ballistic's strategy is similar to Forgepoint Capital and Ten Eleven Ventures.
Why it matters
Read this as intent, not capital: an SEC filing with zero sales recorded means the $490M is being solicited, not committed, so don't plan a raise or partnership around it being deployable. The concrete detail worth noting is the parallel-vehicle structure — a $360M flagship plus a $130M 'Fund B' — which is how security VCs segregate thesis bets; if you're pitching AI-agent security tooling, ask which vehicle and what stage it targets before spending weeks on the deck. Nothing here changes what a Malaysian builder ships this week.
Discussion angle
Is 'AI agent security' an actual budget line for SEA enterprises yet, or are local buyers still only paying for compliance and network security — and if it's the latter, does a $360M US fund's thesis matter to anyone building here?