Ballistic Ventures, a enterprise capital agency devoted to funding and incubating cybersecurity startups, is trying to increase as a lot as $300 million for a brand new fund, in accordance with a regulatory submitting.
The San Francisco-based VC agency Wednesday filed with the U.S. Securities and Change Fee to boost $300 million for its second fund — over a yr after launching its first fund of the identical quantity in Might 2022.
Ballistic spokesperson Michelle Kincaid declined to touch upon the submitting when reached by information.killnetswitch.
Geared toward early-stage cybersecurity and cyber-related startups, Ballistic Ventures is co-founded by Kleiner Perkins’ basic associate Ted Schlein, together with Barmak Meftah, Jake Seid and Roger Thornton because the three different basic companions, and Mandiant founder Kevin Mandia as its strategic associate. The VC agency additionally has Derek Smith as a strategic advisor and Agnes In order the agency’s finance and operations chief.
To this point, Ballistic has backed a dozen startups, per the main points obtainable on the agency’s web site. Ballistic says its based, operated and funded over 90 cybersecurity corporations. Thus far, the corporate has invested in AuthMind, Oligo, and Nudge Safety, amongst others. The agency additionally not too long ago appointed former U.S. Nationwide Cyber Director Chris Inglis and U.S. cybersecurity company CISA former chief of workers Kiersten Todt as advisors.
Funding in cybersecurity so far this yr has been far under the file highs of earlier years.
Funding in cybersecurity in 2023 so far has been far under the file highs of earlier years. Enterprise funding for cybersecurity startups worldwide dropped over 14% to $2.4 billion within the third-quarter of 2023 from $2.8 billion in the identical quarter final yr, in accordance with Pitchbook knowledge shared with information.killnetswitch.
The variety of offers carried out throughout the latest quarter additionally decreased from 248 to 198.
Nonetheless, because the digital financial system expands globally, cyberattacks and on-line crimes have grow to be extra prevalent. Traders are additionally optimistic about development in cybersecurity startups and investments with predominant developments in generative AI and cloud deployments.
Picture Credit: PitchBook knowledge
