# Blu Ventures: portfolio, investments and team

> Blu Ventures is a vc firm based in United States. 85 investments on record, 13 in the last 12 months, latest Sept 2026.

Source: https://millionrounds.com/fund/blu-ventures (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Blu Ventures

Last cheque observed Sep 2026; 85 cheques on record.

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Deploying now New fund $200K, Jun 2026 VC firm

Seed Series A Series B Privacy Authentication SaaS

Follow Blu Ventures and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fblu-ventures)

Deploying now

**68%** of best year **13** **cheques in 12 months**, 85 on record

Since the last cheque **60** days **00** hrs **00** min **00** sec

Median round **$3.9M** Cheque size, as they say **$50K – $1.0M** Rounds led **4 of 85** Sole investor **12 rounds** Exits **1 from the portfolio** Mostly in **United States, 98%**

Pitch Blu Ventures

## Blu Ventures highlights

- 01 13 cheques in the last 12 months
- 02 Mostly Seed and Venture: 69% of its rounds
- 03 Sole investor in 12 rounds, median $3.3M
- 04 1 exits from the portfolio

## What they do

> Blu Ventures is an early-stage Venture Capital fund built by former operators who know what it takes to scale cybersecurity companies from inception to exit. From their own website

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** $50K – $1.0M as they say
- **Stages:** Seed Series A Series B
- **Sectors:** Privacy Authentication SaaS
- **Based in:** Vienna, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **85 appearances**

- **2026** 10 rounds
- **Sept** **[Eve Security](https://millionrounds.com/company/eve-security)** Seed · US **$4.5M** With 3 others
- **Aug** **[CYBERA](https://millionrounds.com/company/cybera)** US · AlleyWatch **$2.5M** With 4 others
- **Jun** **[Icarus Medical Innovations](https://millionrounds.com/company/icarus-medical-innovations)** Series A · US **$7.2M** With 1 other
- **Apr** **[Elidah](https://millionrounds.com/company/elidah)** Venture · US **$2.0M** With 2 others
- **Mar** **[Spin.AI](https://millionrounds.com/company/spin-ai)** Venture · US **Undisclosed** With 1 other
- **Mar** **[Dark Watch](https://millionrounds.com/company/dark-watch)** Seed · US **$3.5M** Sole investor
- **Feb** **[CYDELPHI](https://millionrounds.com/company/cydelphi)** Seed · US **$3.0M** With 1 other
- **Feb** **[Hardshell](https://millionrounds.com/company/hardshell)** Pre-seed · US **$1.1M** Sole investor
- **Feb** **[IntelliGRC](https://millionrounds.com/company/intelligrc)** Seed · US **$3.5M** With 1 other
- **Jan** **[Pearl](https://millionrounds.com/company/pearl)** Venture · US **$7.8M** With 1 other
- **2025** 17 rounds
- **Nov** **[Procurement Sciences AI](https://millionrounds.com/company/procurement-sciences-ai)** Series B · US **$30M** With 3 others
- **Nov** **[Sorcero](https://millionrounds.com/company/sorcero)** Series B · US **$43M** With 3 others
- **Nov** **[Cybrary](https://millionrounds.com/company/cybrary)** Venture · US **$4.5M** With 2 others
- **Oct** **[InnerActiv](https://millionrounds.com/company/inneractiv)** Venture · US **$1.9M** With 1 other
- **Oct** **[Bricklayer.ai](https://millionrounds.com/company/bricklayer-ai)** Seed · US **$5.0M** With 3 others
- **Sept** **[Returnalyze](https://millionrounds.com/company/returnalyze)** Series A · US **$6.0M** With 5 others
- **Sept** **[Tidal Cyber](https://millionrounds.com/company/tidal-cyber)** Series A · US **$10M** With 1 other
- **Sept** **[Trially](https://millionrounds.com/company/trially)** Seed · US **$4.7M** With 1 other
- **Aug** **[PediaMetrix](https://millionrounds.com/company/pediametrix)** Grant · US **$2.0M** With 3 others
- **Jun** **[Enquire AI](https://millionrounds.com/company/enquire-ai)** US **$3.0M** Sole investor
- **May** **[Prediction Guard](https://millionrounds.com/company/prediction-guard)** Seed · US **$3.7M** With 2 others
- **Apr** **[AuthMind](https://millionrounds.com/company/authmind)** Seed · US · TechStartups **$19M** With 7 others
- **Apr** **[BreachBits](https://millionrounds.com/company/breachbits)** Venture · US **Undisclosed** Sole investor
- **Feb** **[Urgently](https://millionrounds.com/company/urgent-ly)** Debt · US **$20M** Sole investor
- **Feb** **[ThreatMate](https://millionrounds.com/company/threatmate)** Seed · US **$3.2M** With 1 other
- **Feb** **[Senteon](https://millionrounds.com/company/senteon)** Venture · US **Undisclosed** With 1 other
- **Jan** **[DeepSig](https://millionrounds.com/company/deepsig)** Venture · US **Undisclosed** With 2 others
- **2024** 15 rounds
- **Dec** **[Senteon](https://millionrounds.com/company/senteon)** Seed · US **$2.1M** With 1 other
- **Dec** **[Gentian Limited](https://millionrounds.com/company/gentian-limited)** Series A · GB **$13M** With 2 others
- **Nov** **[Grey Market Labs](https://millionrounds.com/company/grey-market-labs)** Series A · US **$8.0M** Sole investor
- **Oct** **[Tidal Cyber](https://millionrounds.com/company/tidal-cyber)** Venture · US **Undisclosed** Sole investor
- **Sept** **[Tamnoon](https://millionrounds.com/company/tamnoon)** Series A · US **$12M** With 1 other
- **Sept** **[Threater](https://millionrounds.com/company/threater)** Venture · US **Undisclosed** With 5 others
- **Aug** **[Procurement Sciences AI](https://millionrounds.com/company/procurement-sciences-ai)** Seed · US · Blu Ventures **Undisclosed** *Led*
- **Jun** **[CYBERA](https://millionrounds.com/company/cybera)** Venture · US **$1.8M** With 4 others
- **Apr** **[Elidah](https://millionrounds.com/company/elidah)** US · Blu Ventures **Undisclosed** *Led*
- **Apr** **[Procurement Sciences AI](https://millionrounds.com/company/procurement-sciences-ai)** Series A · US **$10M** With 1 other
- **Mar** **[Enveedo](https://millionrounds.com/company/enveedo)** Seed · US · Blu Ventures **$3.1M** *Led*
- **Mar** **[LeakSignal](https://millionrounds.com/company/leaksignal)** Seed · US **$1.6M** With 2 others
- **Mar** **[binarly](https://millionrounds.com/company/binarly)** Seed · US **$11M** With 3 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **24 named**

BE **Benjamin Ebenezer** Non-Managing Member of Blu Venture Investors Cyber GP, LLC i Form ADV

BB **Bikram Bakshi** Member of the Investment Committee i Filing they signed

BS **Bob Struble** Member of the Investment Committee i Filing they signed

DF **Deborah Fitzgerald** Managing Member of Blu Venture Investors Cyber GP, LLC i Form ADV

DH **Donya He** Managing Member i Form ADV

EK **Eric K. Adler** Executive Committee member of the Issuer's Managing Member. i Filing they signed

JK **J.S. K. Gamble** Executive Committee member of the Issuer's Managing Member. i Filing they signed

JS **Jaye S. Gamble** Member of the Administrative Committee i Filing they signed

JC **Joseph Callanan** Managing Member of Blu Venture Investors Cyber GP, LLC i Form ADV

JM **Josh Miller** Member of the Investment Committee i Filing they signed

KP **Kim Phi Nguyen** Executive Committee member of the Issuer's Managing Member i Filing they signed

MA **Michael Andrew William Sutton** Executive Committee member of the Issuer's Managing Member. i Filing they signed

MD **Michael Dendy Young** Managing Member i Form ADV

MD **Michael Denning** Member of the Investment Committee i Filing they signed

MP **Michael Peter Kostoff** Managing Member i Form ADV

PK **Pawan Kumar Malhotra** Executive Committee member of the Issuer's Managing Member. i Filing they signed

PH **Pete Hayes** Managing Member of Blu Venture Investors Cyber GP, LLC i Form ADV

PH **Peter Hayes** Executive Committee member of the Issuer's Managing Member i Filing they signed

PM **PK Malhotra** Member of the Investment Committee i Filing they signed

RS **Robert Struble** Managing Member of Blu Venture Investors Cyber GP, LLC i Form ADV

SK **Sassan Kimiavi** Managing Member i Form ADV

SC **Steven Chen** Managing Member i Form ADV

TU **Tarun Upaday** Managing Member i Form ADV

WA **William Arthur Phelps** Managing Member i Form ADV

We also hold **47** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$215M** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** BLU Venture Management, LLC
- **SEC number:** CRD 308487

## What they claim to have backed

From their own portfolio page (on their website)

**0** of 1 we have independently watched raise

LP PORTAL

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Exits from the portfolio

Companies it backed that were later bought or listed **1 in all**

**[LATISTA](https://millionrounds.com/company/latista)** Bought by Textura **$35M** Nov 2013

An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$200K**

raised in Jun 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$3.9M** the round, not its cheque Alone, median **$3.3M**

Led 4 of 85 rounds **5%**

- **Said size:** $50K – $1.0M
- **Sole investor:** 12 rounds
- **Last cheque:** Sept 2026
- **Exits:** 1 from the portfolio

Rounds by stage said on their site

- Seed said *27*
- Venture *26*
- Series A said *17*
- Series B said *4*
- Debt *3*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [TEDCO](https://millionrounds.com/fund/tedco) 7
- [CIT GAP Funds](https://millionrounds.com/fund/cit-gap-funds) 5
- [Gaingels](https://millionrounds.com/fund/gaingels) 5
- [J. Hunt Holdings](https://millionrounds.com/fund/j-hunt-holdings) 5
- [SaaS Ventures](https://millionrounds.com/fund/saas) 5
- [National Science Foundation](https://millionrounds.com/fund/nsf-small-business-innovation-research-small-business-techno) 4

**Pitching Blu Ventures?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Blu Ventures. A count of rooms they were both in, not a relationship either has claimed.

[**TEDCO** VC firm **7** rounds together](https://millionrounds.com/fund/tedco)[**CIT GAP Funds** VC firm **5** rounds together](https://millionrounds.com/fund/cit-gap-funds)[**Gaingels** Private equity **5** rounds together](https://millionrounds.com/fund/gaingels)[**J. Hunt Holdings** Family office **5** rounds together](https://millionrounds.com/fund/j-hunt-holdings)[**SaaS Ventures** VC firm **5** rounds together](https://millionrounds.com/fund/saas)[**National Science Foundation** Government **4** rounds together](https://millionrounds.com/fund/nsf-small-business-innovation-research-small-business-techno)[**Right Side Capital Management** VC firm **4** rounds together](https://millionrounds.com/fund/right-side-capital-management)[**Virginia Innovation Partnership Corporation** VC firm **4** rounds together](https://millionrounds.com/fund/virginia-innovation-partnership-corporation)[**Alumni Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund)[**Baltimore Angels** Angel network **2** rounds together](https://millionrounds.com/fund/baltimore-angels)[**Battery Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/battery-ventures)[**Camber Creek** VC firm **2** rounds together](https://millionrounds.com/fund/camber-creek)

## Recently backed

The latest companies Blu Ventures put money into.

[**Eve Security** $4.5M · Sept 2026](https://millionrounds.com/company/eve-security)[**CYBERA** $2.5M · Aug 2026](https://millionrounds.com/company/cybera)[**Elidah** $2.0M · Apr 2026](https://millionrounds.com/company/elidah)[**Spin.AI** Mar 2026](https://millionrounds.com/company/spin-ai)[**Dark Watch** $3.5M · Mar 2026](https://millionrounds.com/company/dark-watch)[**CYDELPHI** $3.0M · Feb 2026](https://millionrounds.com/company/cydelphi)

## Quick answers about Blu Ventures

### What does Blu Ventures invest in?

Blu Ventures invests most often at Seed and Venture (69% of the rounds on record), in sectors such as Privacy, Authentication and SaaS.

### How active is Blu Ventures?

85 investments on record, 13 of them in the last 12 months, and it led 4. The most recent was in Sept 2026.

### What has Blu Ventures invested in recently?

Its most recent investments on record: Eve Security (Seed, Sept 2026), CYBERA (Aug 2026) and Icarus Medical Innovations (Series A, Jun 2026).

### How big are Blu Ventures's cheques?

The median round it joins is $3.9M. It says it writes cheques of $50K to $1.0M.

### Does Blu Ventures lead rounds?

Sometimes: it led 4 of its 85 investments on record (5%).

### Where does Blu Ventures invest?

Most of the companies it backs are in the United States (98%).

### Is Blu Ventures investing now?

Yes: it is actively investing, with 13 investments in the last 12 months.

### Who does Blu Ventures invest alongside?

Most often TEDCO (7 rounds together), CIT GAP Funds (5 rounds together) and Gaingels (5 rounds together).

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