Ted Schlein, a seasoned venture capitalist renowned for his tenure at Kleiner Perkins, is making waves in the startup world once again. His brainchild, Ballistic Ventures, has set its sights on raising an impressive $100 million for an upcoming fund. This move comes hot on the heels of the closure of their second fund last year, which boasted a substantial $360 million.
Stepping into the realm of venture capitalism in late 2021, Ballistic Ventures has quickly carved out a niche for itself by focusing primarily on cybersecurity startups. In a recent interview with TechCrunch, Schlein shed light on the firm’s modus operandi. Describing his team as exceptionally hands-on and deeply committed to their portfolio companies’ success, he emphasized their proactive approach in providing support beyond just financial backing.
“The Ballistic crew is dedicated to going above and beyond for our founders.”
Taking active roles by securing board seats, aiding in recruitment efforts, and facilitating crucial initial customer acquisitions are just some of the ways they add value. Communication is key for them; speaking with their founders multiple times per week ensures that they stay closely attuned to their needs and challenges.
“We believe in building strong relationships with our portfolio companies.”
Aside from Schlein’s expertise, Ballistic Ventures boasts a formidable lineup of general partners including Kevin Mandia, Barmak Meftah, Jake Seid, and Roger Thornton. Their combined experience and extensive network have been instrumental in propelling the success of the firm thus far.
In a strategic move reflecting their commitment to excellence, Ballistic recently appointed Gregory Crabb as Chief Information Security Officer-in-residence. This decision underscores the importance they place on staying ahead of cybersecurity trends and fostering a secure environment within their investment ecosystem.
With investments spanning across 59 startups according to Crunchbase data – including recent participation in GetReal Labs’ impressive $17.5 million Series A funding round – Ballistic Ventures continues to make significant strides within the industry. The firm’s track record boasts six successful exits so far, showcasing their knack for identifying promising ventures poised for growth.
Cybersecurity remains a red-hot sector within the tech landscape; according to insights from Crunchbase News, venture funding surged by 43% year-over-year reaching $11.6 billion in 2024 across 639 deals closed – although slightly lower than 2023 figures due to evolving market dynamics.
As Ballistic Ventures embarks on this new fundraising endeavor shrouded in anticipation and excitement among industry insiders and enthusiasts alike – one thing remains certain: under Ted Schlein’s astute leadership and alongside its stellar team of partners , this VC powerhouse shows no signs of slowing down anytime soon.
