VC firm
Red & Blue Ventures
Also known as Red & Blue Burrow Annex Fund II, LP, Red & Blue Neuroflow Annex Fund, LP, Red & Blue Penn & Hunt Annex Fund, LP, Red & Blue SS Annex Fund, LP, Red & Blue Ventures I, LP, Red & Blue Ventures II, LP, Red & Blue Wonder Annex Fund, LP, Red Blue Burrow
- Investor type
- VC
- Investing status
- Activeas of 2026-09-18Source (opens in a new tab)
- Headquarters
- PHILADELPHIA, PA, United States
- Assets under management
- $42.5MForm ADV private fund GAV, as of 2026-03-31Source (opens in a new tab)
- Latest fund size
- $7.3MSEC amount sold, vintage 2024
- Funds
- 9
- Check size
- Our seed investments range in size up to $250,000Source (opens in a new tab)
- Legal name
- RED & BLUE MANAGEMENT COMPANY, LLC
- redandblue.vc (opens in a new tab)
- LinkedIn (opens in a new tab)
- X (opens in a new tab)
- Blog (opens in a new tab)
- Team page (opens in a new tab)
Claim, correct or request removal
Record updated 29 September 2026
About
Red + Blue Ventures is a privately owned and operated, seed and early-stage venture capital fund that invests in companies from the Penn ecosystem
Investment approach
- Thesis
- We primarily focus on investments in the information technology industry, where our experience and our networks allow us to add the most value to companies. We define this broadly to include hardware, software, ecommerce and technology-enabled services companies that sell to either businesses or consumers. We will consider investments in other areas, however, if the company has a sufficiently strong connection to Penn and a strong syndicate of co-investors with deep domain expertise.Source (opens in a new tab)
- Leads rounds
- Sometimes
- Lead policy
- We prefer to lead or co-lead our initial investments, though we will invest as part of a larger syndicate if appropriate.
- Takes board seats
- Sometimes
- Board policy
- Post-investment, we prefer to take an active role with the company, often taking a director or observer seat on the Board of Directors.
- Eligibility
- Typically, a company's connection to Penn could be having a student, faculty member or alumnus in a key management role or the company leveraging core technology that was developed at the university.
- Traction requirement
- Our seed investments range in size up to $250,000 and are typically in companies that are still in the product development or early revenue phases. Our early-stage investments are somewhat larger and are usually in companies that have achieved early revenue growth.
- Investing status notes
- If your company has a connection to the University of Pennsylvania ecosystem, we are happy to learn more about your business and help out however we can, including discussing if it may be a fit for our fund.
Funds
- Red & Blue Wonder Annex Fund, LP
- $7.3MVintage 2024, Main fund, SEC amount sold
- Red & Blue Burrow Annex Fund II, LP
- $3.2MVintage 2021, Main fund, SEC amount sold
- Red & Blue Neuroflow Annex Fund, LP
- $1.7MVintage 2021, Main fund, SEC amount sold
- RedBlue Ventures Fund I, LP
- Vintage 2021Main fund
- Red & Blue Ventures II, LP
- $12.6MVintage 2019, Main fund, SEC amount sold
- Red & Blue Penn & Hunt Annex Fund, LP
- $3.1MVintage 2018, Main fund, SEC amount sold
- Red & Blue SS Annex Fund, LP
- $2.9MVintage 2017, Main fund, SEC amount sold
- Red & Blue Ventures I, LP
- $13.9MVintage 2016, Main fund, SEC amount sold
- RED & BLUE BURROW ANNEX FUND IIA LP
- Annex
SEC registration
- Registered adviser
- RED & BLUE MANAGEMENT COMPANY, LLC
- CRD number
- 310359 (opens in a new tab)
- SEC file number
- 802-119957
- Registration
- Exempt reporting adviser
- Regulatory AUM
- $42.5Mas of 2026-03-31
- Private funds reported
- 8
- SEC CIK
- 1724139, 1727865, 1733898
Loading relationship preview