Olaf Sakkers raises second fund despite tough VC market
Olaf Sakkers of RedBlue Capital has closed a second venture fund totaling at least $50 million in South Africa during the first nine months of 2026.
Second fund closes quickly
PitchBook data shows firms raising fourth funds or later captured 88.2 percent of U.S. VC dollars through the first three quarters of this year. First-time funds captured only 4.5 percent while just 81 such entities closed deals in the first nine months of 2026. Sakkers says his firm now holds a first close on a second fund that will total at least $50 million.
Strategy targets real economy
RedBlue backs robotics, logistics, manufacturing and energy sectors while writing small checks ranging from $50,000 to $100,000. The firm mostly joins deals led by other investors rather than leading them to do more transactions. Sakkers notes institutional limited partners like endowments and pension funds remain toughest to win over because their risk models avoid zeros.
Trust building takes time
Sakkers says the first fund served as a proof of concept backed by family offices he had known for a while. The second fund draws on similar family offices and institutions to secure capital commitments. He pledges tangible assistance, such as connecting startup creators with leading investors including Andreessen Horowitz and Thrive Capital.
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