Ballistic Ventures Targets $490 Million for Cybersecurity Expansion

The firm’s latest fundraising push arrives during a period of intense capital deployment in the security sector. According to JPMorgan Chase data, U.S. cybersecurity startups secured $11.5 billion in 2025, a peak not seen since 2022. Driven by the proliferation of AI-enabled threats, these companies captured 72% of all venture deals through May, nearly doubling their share from 2019.

Founded in 2021 by Schlein alongside Barmak Meftah and Roger Thornton, Ballistic Ventures leverages deep industry ties to differentiate itself from competitors like Forgepoint Capital. The firm’s portfolio includes notable exits such as Talon Cyber Security, acquired by Palo Alto Networks, and Pangea, purchased by CrowdStrike. While Microsoft recently warned that hackers are utilizing AI to weaponize phishing and malware development, investors view these same vulnerabilities as a catalyst for new defensive startup opportunities. Ballistic Ventures has not yet recorded sales for the new vehicles.