The cybersecurity-focused VC is seeking $360 million for its third flagship fund and $130 million for Ballistic Ventures Fund B, according to filings. U.S. cybersecurity startups raised $11.5 billion in 2025. A JPMorgan Chase report citing PitchBook data says AI-enabled companies accounted for about 72% of U.S. cybersecurity venture deals through May.
The article links wider AI use to concerns about more sophisticated cyberattacks and says AI agents are creating opportunities for cybersecurity startups. Microsoft separately warned that hackers are increasingly using AI for activities including phishing and malware development.
Why it matters
The fundraising targets offer a signal of investor interest amid AI-related security risks and opportunities, but they are targets, not capital already raised.
Something to try
As a hypothetical planning exercise, list phishing and social-engineering scenarios that AI could make faster or easier to scale.
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