Olaf Sakkers is betting he can beat the emerging-manager squeeze

Olaf Sakkers has secured a first close for RedBlue Capital’s second venture fund, which he says will reach at least $50 million, despite a steep fundraising squeeze for first-time and emerging managers. His progress highlights how smaller firms can attract capital in a market where investors favour established funds, though most of RedBlue’s reported gains have yet to be realised.

PitchBook data cited in the article shows established US firms raising their fourth fund or later took 88.2% of venture fundraising in the first three quarters of 2026, while first-time funds received 4.5%; only 81 first-time funds closed. RedBlue’s first fund raised about $5 million in 2023, and the firm now backs companies in areas such as robotics, logistics, manufacturing and energy, typically investing $50,000 to $100,000 alongside other investors. Sakkers says 15 of its 28 investments have been marked up and its net internal rate of return is above 50%, but the portfolio has had only one exit, an acqui-hire.