San Francisco, the U.S-based venture capital firm Ballistic Ventures introduced BallisticX. BallisticX will operate as the new platform for the VC firm’s portfolio companies. The company announced its launch on September 12, 2022.
Purpose of BallisticX
BallisticX is the new platform for the portfolio companies of Ballistic Ventures. The recent launch of BallisticX seeks to aid early-stage operating in the cybersecurity segment. The platform intends to help startup founders and their teams advance their businesses and cybersecurity.
The company appointed an experienced advisory board. It also includes the services to help the portfolio companies.
The new advisory board consists of the leading cybersecurity experts. The board member’s expertise intends to guide further and influence Ballistic’s investments. Moreover, their experience will aid portfolio companies in their growth and unite a new network of cybersecurity leaders.
The board includes reverend members such as Sue Barsamian, Tim Eades, Andy Johnson, Nicole Perlroth, Holly Rollo, Derek Smith, and Phil Venables.
Earlier in May 2022, the firm launched a debut fund which is expected to close at USD 300 million.
What the Ballistic Ventures official has to say
Ted Schlein, Chairman and General Partner of Ballistic Ventures, said, “Capital alone is not enough. Young companies with new innovations need strategic advisors, design partners and a network of people who have lived their challenges. They also need access to curated, low-touch, high-impact services and support to help them build and grow fast. BallisticX is our commitment, beyond the capital, to ensure our portfolio companies have the team and resources they need to make an impact.”
He further added, “This prestigious group of advisors is a critical step for Ballistic in cementing our position as the premier venture fund for entrepreneurs on the cutting edge of cybersecurity. Each of our members brings with them unmatched experience and invaluable expertise in a variety of essential domains. We look forward to benefiting from their wise counsel, and we’re thankful to have them alongside us as we help entrepreneurs define their ideas, scale their businesses, and make the world a safer place.”
What the board members have to say
Sue Barsamian, a member of the advisory board, further added, “For any entrepreneur, having the right partners can be just as important as having the right product-market fit. With the Ballistic team’s industry expertise and proven track record, they’re the best partner out there for early-stage cybersecurity startups, and I look forward to working with the team to support their portfolio companies in growing their businesses and securing our future.”
In addition, Nicole Perlroth said, “Early on, it became very clear that Ballistic was not another venture fund; it is a mission fund dedicated to fixing one of the most complex challenges of our digital era. It is an honour to join Ballistic as an advisor in that mission. Ibelieve that without a good story, technology cannot flow. I’m thrilled to help Ballistic’s entrepreneurs cut above the noise, home in on their message and unharness the innovation required to climb our way out.”
Further, Holly Rollo, a member of BallisticX’s board, said, “Ballistic understands it takes more than great technology to create a thriving business in today’s frothy security market. Creating value includes building a strong market position and an exceptional customer experience. I’m thrilled to be on this mission with Ballistic to fuel the best ideas in the industry to shift the balance of power in today’s high-risk, digital world.”
Phil Venables said, “While we strive for security to be embedded in all products, we also need great security products to complement that. The team of investors and advisors at Ballistic has the depth of expertise to tackle the dual objective as well as invest in the solutions that will truly improve cybersecurity.”
About the company
Founders Barmak Meftah, Derek Smith, Jake Seid, Kevin Mandia, Roger Thornton, and Ted Schlein launched the company. The venture capital firm explicitly lends support to entrepreneurs and innovation in the cybersecurity segment. Its portfolio boasts companies such as Concentric AI, Nudge Security, Pangea, Talon Cyber Security and Veza.
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