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Ballistic Ventures , a speculation capital firm commit to funding and incubating cybersecurity startup , is take care to raise as much as $ 300 million for a new fund , fit in to a regulatory filing .
The San Francisco - based VC business firm Wednesdayfiledwith the U.S. Securities and Exchange Commission to raise $ 300 million for its 2d stock — over a year after launching itsfirst investment company of the same amountin May 2022 .
Ballistic spokesperson Michelle Kincaid declined to comment on the filing when reached by TechCrunch .
Aimed at early - microscope stage cybersecurity and cyber - relate startups , Ballistic Venturesis co - found by Kleiner Perkins ’ general partner Ted Schlein , along with Barmak Meftah , Jake Seid and Roger Thornton as the three other general married person , and Mandiant founder Kevin Mandia as its strategic partner . The VC house also has Derek Smith as a strategic advisor and Agnes So as the business firm ’s finance and functioning chief .
So far , Ballistic has backed a dozen startup , per the particular available on the house ’s website . Ballistic says it has founded , operated and funded over 90 cybersecurity firms . To date , the party has invested inAuthMind , OligoandNudge Security , among others . The house alsorecently appointedformer U.S. National Cyber Director Chris Inglis and U.S. cybersecurity agency CISA former chief of staff Kiersten Todt as advisor .
Investment in cybersecurity in 2023 to date has been far below the record high of old years . speculation funding for cybersecurity startups worldwide drop over 14 % to $ 2.4 billion in the third - quarter of 2023 , from $ 2.8 billion in the same quarter last year , consort to PitchBook datum share with TechCrunch .
The number of deals done during the most recent quartern also decreased from 248 to 198 .
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Nonetheless , as the digital economy expands globally , cyberattacks and online crimes have become more prevalent . Investors are also optimistic about growth in cybersecurity startups and investments with preponderant advancements in generative AI and cloud deployments .
8 VCs explain why there ’s good reason to be affirmative about cybersecurity
