Former Virginia Gov. Glenn Youngkin has taken his first major private-sector role since leaving office, joining McLean-based Red Cell Partners as partner, chairman and board member.

The firm announced the appointment Wednesday, July 15, in a press release from its McLean headquarters. Youngkin succeeds Red Cell founder Grant Verstandig as chairman; Verstandig remains CEO.

Red Cell Partners, founded in 2020, is a venture studio that builds and invests in companies focused on national security, cybersecurity and healthcare technology. Its portfolio includes Trase, an AI operating system for regulated industries that raised a $107 million seed round in June 2026; Claros, a startup focused on reducing energy waste at data centers; and Hunted Labs. The firm also holds investments in Epirus, a California-based defense-technology company developing high-power microwave systems.

Red Cell's first fund raised $91.2 million, according to Axios. Its second fund had already surpassed that total as of mid-July and is still being raised. The firm also holds a separate $150 million in a holding company used to incubate startups, according to Axios.

Youngkin told Axios he expects the role to occupy one to two days per week, focusing on limited-partner relationships, government relations and business partnerships. He drew a parallel to his early days at The Carlyle Group, where he started in 1995 and rose to co-CEO before stepping down in 2020 to run for governor.

"When I joined Carlyle, Carlyle was not a big firm and was growing rapidly," Youngkin told Axios.

Youngkin also said he has no plans to run for president in 2028, saying he is focused on commitments he has already made.

During his gubernatorial term, Youngkin's administration tallied more than $150 billion in committed capital investments from companies relocating or expanding in Virginia, including Eli Lilly, AstraZeneca, and Amazon, according to Virginia Business.