Red & Blue Ventures

Red and Blue Ventures is a Philadelphia, Pennsylvania-based seed and early-stage venture capital fund dedicated exclusively to the University of Pennsylvania ecosystem. Founded in 2016 by Co-Founders Michael B. Aronson, who serves as Managing Director, and Brett Topche, the fund's name reflects Penn's school colors. The firm invests in technology-enabled services companies with strong Penn ties — founders who are Penn students, faculty, or alumni, or companies built on Penn-originated intellectual property. The current fund is approximately $14 million. Brett Topche brings institutional LP experience from Hamilton Lane, where he reviewed more than 100 venture, buyout, mezzanine, and real-estate funds and contributed to over $1 billion in LP commitments. Red and Blue invests at Seed and early Series A stages with check sizes of $100,000 to $1 million across hardware, software, e-commerce, fintech, robotics, and technology-enabled services. Across 27 total investments, the portfolio has produced 1 IPO and 5 acquisitions to date. Notable portfolio companies include Exyn Technologies (autonomous aerial robotics for industrial environments), Rize (fintech banking-as-a-service), Chef Robotics (robotic food preparation, Series A in March 2025), and Burrow (direct-to-consumer furniture, portfolio exit in October 2024). Warby Parker, which listed on the NYSE in September 2021, is among the most prominent historical portfolio names. The firm is co-located at Penn's Pennovation Center, embedding it directly in the university's startup community and giving it first-look access to faculty spin-outs, student ventures, and alumni-founded companies. This network advantage — combined with a clear investment filter and hands-on engagement with each portfolio company — has made Red and Blue one of the more productive university-affiliated seed funds in the Northeast.