Olaf Sakkers is betting he can beat the emerging-manager squeeze
RedBlue Capital founder Olaf Sakkers is targeting a $50 million second fund amidst the toughest year for first-time VC managers in a decade, per PitchBook data.
Stock photo for illustration only, not from the actual event
- Firms raising their fourth fund or later captured 88.2% of U.S. VC funds in the first three quarters of 2026.
- First-time funds secured a meager 4.5% share with only 81 funds closed in the first nine months.
- Olaf Sakkers of RedBlue Capital is holding a first close on a second fund targeting at least $50 million.
- RedBlue writes small checks of $50,000 to $100,000 while offering hands-on operational support to founders.
Entering the venture capital ecosystem has never been simple, particularly for first-time fund managers. However, the current fundraising landscape presents an unprecedented level of difficulty and pressure for newcomers.
According to PitchBook data, firms raising their fourth fund or later captured a staggering 88.2% of U.S. venture capital fundraising dollars through the first three quarters of 2026, while first-time funds secured a meager 4.5% share.
Photo by Kevin Gonzalez / Unsplash
Only 81 first-time funds managed to close during the first nine months of 2026, putting the year on track to record the worst performance for emerging managers in at least a decade, based on PitchBook estimates.
Amidst these challenging conditions, Olaf Sakkers has spent the past five years demonstrating that difficulty does not equate to impossibility. He founded RedBlue Capital in 2021 and closed its inaugural fund with approximately $5 million in 2023, and has now held a first close on a second vehicle targeted at a minimum of $50 million.
The ability of boutique firms like RedBlue Capital to scale during a period dominated by mega-funds highlights how the emerging-manager squeeze forces newcomers to adopt differentiated strategies, such as writing smaller checks and providing dedicated founder support to offset capital disadvantages.
Raised in South Africa, Sakkers studied anthropology at Princeton and served in the Israel Defense Forces before entering the venture space through Michael Granoff, founder of Maniv Mobility, eventually backing cybersecurity and automotive startups.
"It’s a long-term game of building trust, demonstrating performance over time."
Olaf Sakkers
Today, RedBlue writes small checks ranging from $50,000 to $100,000, joining deals led by others and offering practical assistance like introductions to top-tier leads such as Andreessen Horowitz. Sakkers reports that the firm's net internal rate of return sits significantly above 50%, although most gains remain unrealized paper returns.
Source: TechCrunch
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