RockawayX Closes $125M Early-Stage Crypto Venture Fund

RockawayX, a global digital asset investment firm, has raised $125 million for its second early-stage crypto venture capital fund. The firm, which manages around $2 billion in assets, announced the fund’s closing after an oversubscribed fundraising round.

This success comes on the heels of impressive performance from its 2021 fund, which the team reported has so far delivered a 2.1x DPI (Distributions to Paid-In) and a 5.4x MOIC (Multiple on Invested Capital). The firm’s solid track record of returning capital to investors, combined with its strategic investments in high-profile projects like Solana, Wintermute, and Morpho Labs, has positioned RockawayX as a trusted player in the crypto VC landscape.

Solana Takes Center Stage

The bulk of the new fund will be directed to the Solana ecosystem, where RockawayX has long been an investor, having invested in the Solana seed round in 2018. The firm has already backed 15+ projects in Solana, including Kamino Finance, Squads, and DoubleZero, and is continuing to bet big on the network’s potential.

RockawayX sees its deep-rooted partnerships, active participation in key ecosystem activations, and role as an early user of DeFi protocols as key advantages in identifying the most promising projects.

“We’ve been focused on the Solana ecosystem since meeting Anatoly and Raj (Solana co-founders) in 2018. Instead of investing in more L1s, we’ve worked to build applications and become the first power user for our founders—from providing liquidity to running solvers and operating hardware services.” - Viktor Fischer, Founder and CEO of RockawayX.

The firm also points to its upcoming Solana City accelerator hub in Dubai, which it is launching in collaboration with the Solana Foundation and Helius Labs, as an important initiative to support top-tier projects within the ecosystem.

Investing in DeFi and Infrastructure

Along with its focus on Solana, the new fund will also prioritize DeFi and infrastructure protocols. RockawayX’s dedicated liquidity provision arm, which has been a primary liquidity provider across DeFi protocols, will continue to support emerging Web3 projects.

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The firm believes securing initial liquidity is critical for web3 success, and it is well-positioned to provide the necessary capital to help projects thrive in a challenging market.

Decentralized Networks: The Next Frontier

A third key focus for the new fund will be decentralized networks. RockawayX has been involved in projects that provide the infrastructure for decentralized systems, with one notable example being DoubleZero.

This Solana-focused project, which recently raised $28 million, is building a “new internet” for blockchains, and RockawayX is playing a significant role as its European core contributor.

Looking Ahead: A Strong Foundation for Future Growth

RockawayX’s $125 million fundraise reflects the firm’s commitment to long-term growth and its ability to navigate the ups and downs of the crypto market. With a focus on Solana, DeFi, infrastructure, and decentralized networks, RockawayX is positioning itself to continue driving innovation and supporting the next wave of Web3 development.

As the firm looks ahead, it remains focused on its engineering-first philosophy, providing the infrastructure and liquidity necessary for crypto projects in its portfolio to succeed. With its new fund and deep industry ties, RockawayX is set to remain a key player in the evolving crypto ecosystem.