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Ted Schlein’s 2-year-old Ballistic Ventures has already raised a second $360 million fund
After a shakeup at Kleiner Perkins a few years back, one of its star B2B investors, Ted Schlein, started his own firm. Ballistic has already closed a second fund, even bigger than the first. In just a few months of fundraising, Ballistic closed a second fund bigger than its first. “We set out to raise a second $300 million fund and stopped at $360 million."
Two years ago, he launched Ballistic Ventures with an inaugural $300 million fund, a laser focus on cybersecurity, an interesting business model, and a who’s-who of investing partners. General partner Jake Seid says that all of Ballistic’s crew works with all of their portfolio companies, routinely bringing in the first three to four million dollars of annual recurring revenue or helping hire their first engineers. Although they haven’t even fully deployed their first fund, They’ve already had one successful exit of portfolio company Talon Cyber Security, bought by Palo Alto Networks in a deal valued at at $625 million, TechCrunch reported.
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