{
  "id": 18028772,
  "title": "Ted Schlein’s Ballistic Ventures seeks $490M for new funds amid AI-driven cybersecurity boom",
  "url": "https://urgent.news/2026/11/03/ted-schleins-ballistic-ventures-seeks-490m-for-new-funds-amid-ai",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-03T21:43:08.000Z",
  "source": {
    "name": "TechCrunch",
    "slug": "techcrunch",
    "url": "https://techcrunch.com/2026/11/03/ted-schleins-ballistic-ventures-seeks-490m-for-new-funds-amid-ai-driven-cybersecurity-boom/"
  },
  "original_language": "en",
  "account": "Ted Schlein, a co-founder of cybersecurity-focused venture capital firm Ballistic Ventures, is leading a fundraising effort for two new funds totaling $490 million. The San Francisco-based firm filed with the U.S. Securities and Exchange Commission to raise $360 million for its third flagship fund and $130 million for a separate vehicle, Ballistic Ventures Fund B. These funds, which have not yet recorded any sales, come amid growing concerns over AI-driven cyberattacks. Ballistic Ventures, founded in late 2021 by Schlein, former AT&T Cybersecurity president Barmak Meftah, and Roger Thornton, has backed several successful startups, including Talon Cyber Security and Pangea. The firm's ties to Kleiner Perkins, where Schlein spent over two decades, distinguishes it from other cybersecurity investors. In 2022, Ballistic raised $300 million for its debut fund and $360 million for its second flagship fund. In 2025, U.S. cybersecurity startups raised a record $11.5 billion, with AI-enabled companies accounting for about 72% of U.S. cybersecurity venture deals through May.",
  "summary": "Cybersecurity focused Ballistic Ventures is seeking to raise $360 million for a new flagship fund and another $130 million for a separate investment vehicle.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}