RockawayX, a $2B crypto VC and early Solana backer, is raising $150M for a new hedge fund focused on liquid tokens and crypto stocks.
VC & Fundraising ·
RockawayX, a Prague-based digital-asset investment firm managing approximately $2 billion, is raising $150 million for a new liquid opportunities fund. The move follows its acquisition of Relayer Capital, a crypto hedge fund formerly led by Austin Barack. The new vehicle will focus on undervalued tokens and crypto-related equities, with Barack remaining to lead it.
Relayer's recent performance appears to have motivated the expansion. The fund returned approximately 70% this year, driven partly by positions in Hyperliquid and Venice AI, whose tokens gained 219% and 1,006% respectively. This outpaced Bitcoin, Ether, and Solana gains over the same period. The acquisition represents RockawayX's latest diversification beyond traditional venture investing; in February, it acquired a crypto vault manager that has since gathered over $200 million in deposits.
The firm's growth trajectory has faced complications. A planned merger with Solana treasury company Solmate collapsed, triggering lawsuits in both directions. In June, an RockawayX investment vehicle sued Solmate board members over alleged misconduct, while Solmate countersued accusing RockawayX of fraud and providing misleading financials. RockawayX denied the allegations. Both cases remain ongoing, and the impact on future fundraising or operations has not been detailed.