Fal raises $1.3 billion at $16 billion valuation
Bessemer Venture Partners led the latest financing, while Fal said its Series E and F rounds brought in a combined $1.65 billion.
Ballistic Ventures targets $490 million across two new funds
The cybersecurity investor is seeking $360 million for its third flagship fund and $130 million for Ballistic Ventures Fund B. Neither had recorded sales when filed.
Cybersecurity investor Ballistic Ventures is seeking $490 million in fresh capital through two funds, according to filings with the U.S. Securities and Exchange Commission. The San Francisco firm was co-founded by Ted Schlein, a former partner at Kleiner Perkins.
Its third flagship fund has a $360 million target, equal to the amount raised for its predecessor in 2024. A separate vehicle, Ballistic Ventures Fund B, is seeking $130 million. The filings showed no sales for either fund. Ballistic declined to discuss its fundraising plans.
Established in late 2021, Ballistic announced a $300 million debut fund in 2022. Its founders also include Barmak Meftah, formerly president of AT&T Cybersecurity, and Roger Thornton, a co-founder of Fortify Software and AlienVault. Portfolio companies have included Talon Cyber Security and Pangea, which were acquired by Palo Alto Networks and CrowdStrike, respectively.
The fundraising effort comes amid increased venture investment in cybersecurity. U.S. startups in the sector attracted $11.5 billion in 2025, the largest amount since 2022, according to a JPMorgan Chase report citing PitchBook figures. AI-enabled businesses represented about 72% of U.S. cybersecurity venture deals through May, versus 36% in 2019, the report said.
Microsoft separately warned in its annual Digital Defense Report that hackers are expanding their use of AI in phishing, social engineering and malware development. The company said AI lets attackers work faster and on a larger scale, although many underlying methods have not changed.