Ballistic Ventures, led by Ted Schlein, secures a second $360 million fund within just two years of its inception

Ted Schlein, a prominent B2B investor formerly with venture capital fund Kleiner Perkins, embarked on a new venture by founding Ballistic Ventures, a cybersecurity-focused firm. Two years after its launch with an initial $300 million fund, Ballistic Ventures has closed a second fund, surpassing its target with a total of $360 million raised.

Schlein highlighted their original aim to secure a second $300 million fund but surpassed expectations by raising an additional $60 million. Despite facing challenges in the VC market, Ballistic Ventures managed to achieve this milestone relatively quickly.

During the fundraising process, the team engaged in numerous discussions with potential limited partners (LPs), addressing various inquiries ranging from their professional backgrounds to more unconventional questions like hypothetical cat preferences. Despite the competitive landscape, Ballistic Ventures successfully closed its second fund, indicating strong investor confidence in their cybersecurity-focused investment strategy.

Hands-on with their startups

Ballistic Ventures takes a different approach compared to some venture capital firms when it comes to their involvement with portfolio companies. While some VCs prioritize a hands-off approach, Ballistic embraces active engagement in operations.

Contrary to the notion of keeping VC influence at bay, Ballistic Ventures’ philosophy involves deep engagement with founders and their businesses. They always secure board seats and maintain frequent communication with founders, often speaking with them multiple times a week. Leveraging their collective experience in running cybersecurity companies and their extensive network, they aim to add substantial value to their portfolio companies.

Ted Schlein, reflecting on his three decades in the industry, emphasized his track record of assisting portfolio companies in securing their initial customers. General partner Jake Seid highlighted Ballistic’s commitment to actively working with all portfolio companies, assisting them in crucial areas such as revenue generation and talent acquisition. This hands-on approach sets Ballistic Ventures apart and underscores their dedication to driving success for their portfolio companies.