Ballistic Ventures seeks $490M for new funds as AI drives cybersecurity demand

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Cybersecurity-focused firm Ballistic Ventures is looking to raise a total of $490 million across two vehicles. It is seeking $360 million for a new flagship fund and an additional $130 million for a separate investment vehicle. The fundraising comes amid a boom in cybersecurity investment driven by advances in artificial intelligence. The original report comes from TechCrunch, which also links the firm to investor Ted Schlein.

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