New cybersecurity venture capital firm Ballistic Ventures Alpha LLC today announced its debut fund that’s expected to close at $300 million as well as investments in several companies.
Ballistic Ventures was established late last year by cybersecurity professionals and is dedicated to investing in early-stage cybersecurity and cyber-related companies. The firm describes itself as a new model of venture capital firm — a supergroup of “founders backing founders.” Every partner at Ballistic has a long record of founding, leading and funding startups and growing ideas into multibillion-dollar enterprises.
Combined, the firm’s partners have founded, operated or funded more than 90 cybersecurity firms, led more than 10,000 security professionals globally and funded or operated companies totaling more than $100 billion in value. Ballistic says that as a result, the companies working with it have unique access to all of the partners and their individual strengths, deep expertise and vast networks.
“At Ballistic, we have assembled the who’s who in cybersecurity – a deep bench of the best operators, entrepreneurs and investors who have been at the forefront of the industry for three decades,” General Partner Ted Schlein said in a statement. “For us, the cybersecurity fight is real and personal – and the need for revolutionary solutions has never been more urgent.”
Ballistics’ first investments include:
- Pangea, a cybersecurity startup focused on creating application security solutions for developers.
- Concentric Inc., a vendor of intelligent AI solutions for protecting business-critical data.
- Nudge Security, a cybersecurity startup securing organizations through the power of the modern workforce.
- Veza Inc., a data security platform built on the power of authorization that raised $110 million in funding in April.
Along with the aforementioned Schlein, who spent more than 25 years at Kleiner Perkins and 30 years at cybersecurity, other key partners include Kevin Mandia, the founder of Mandiant Inc.; Barmak Meftah, previously the president of AT&T Cybersecurity; Jake Seid, a founding member of Lightspeed Venture Partners; Derek Smith, the founder of Oakley Networks and Shape Security Inc.; Roger Thornton, the founder of Fortify Software and AlienVault; and Agnes So, previously a partner at Kleiner Perkins.