Aug 1, 2024 - Business

Exclusive: Former NSA director joins cyber VC fund

Sam Sabin

Then-NSA Director General Paul Nakasone testifies before a Senate Intelligence Committee hearing on worldwide threats, in Washington, DC, in March 2023. — Retired Gen. Paul Nakasone testifying before the Senate Intelligence Committee in March 2023 while he was head of the National Security Agency. Photo: Mandel Ngan/AFP via Getty Images

Retired Gen. Paul Nakasone, the former leader of the National Security Agency and Cyber Command and current OpenAI board member, is joining Ballistic Ventures as a strategic adviser, the firm exclusively shared with Axios.

Why it matters: Cybersecurity startups increasingly need advice not only about business operations, but also about the national security threats their products are designed to fight.

Zoom in: As part of his role, Nakasone will advise portfolio companies and help assess the firm's investment strategy.

Ballistic Ventures — which was founded by Kevin Mandia, Ted Schlein, Barmak Meftah, Jake Seid and Roger Thornton in 2021 — focuses exclusively on cybersecurity startups. Portfolio companies include Alethea Group, SpecterOps and Talon.
Nakasone told Axios he's most interested in investments that can help tackle AI deepfakes, influence operations, ransomware, identity management and other areas.

Between the lines: Nakasone said he sees his new advisory role at Ballistic as an extension of the work he was doing while in government.

During his time at the NSA and Cyber Command, he started several programs to foster collaboration with the private sector.
That included standing up the NSA's Cybersecurity Collaboration Center and creating an election security group during high-profile U.S. elections that shared threat intel with the private sector.

Catch up quick: Nakasone left his post as dual-head of the NSA and the U.S. Cyber Command in February, and since has taken roles at Vanderbilt University and OpenAI.

"I was very purposeful in the organizations that I wanted to associate myself with," Nakasone said.
Nakasone added that he wanted to work on two different issues: securing the national security threats of today and trying to get ahead of the threats coming in the future.
"Being able to work with Ballistic is really about the future," he said.

Editor's note: This story was corrected to include Ballistic Ventures' two additional co-founders Jake Seid and Roger Thornton.

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Exclusive: Former NSA director joins cyber VC fund

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