RockawayX is lining up a $150 million push into liquid crypto markets after acquiring boutique hedge fund Relayer Capital, according to a Forbes report. What’s happening - RockawayX has begun marketing a new “liquid opportunities” vehicle targeting undervalued tokens and crypto-related public equities, people familiar with the matter told Forbes on Aug. 25. The strategy would let the firm trade exposures that are far more liquid than the private stakes held in its venture funds. - The deal that brought Relayer Capital into RockawayX has not been publicly announced and financial terms were not disclosed. RockawayX also hasn’t confirmed the fundraising timeline, minimums, fee structure or the jurisdictions where the new fund will be sold. Who will run it - Relayer founder Austin Barack — previously a partner at CoinFund who ran both venture and liquid investments — is expected to remain and manage the new vehicle, the report says. Relayer, founded in 2024, bills itself as a thesis-driven cryptoasset fund supporting infrastructure, protocols and applications; public filings list Barack as its sole employee. Performance that caught attention — but not yet audited - Unnamed sources told Forbes Relayer returned roughly 70% in 2026, driven in part by positions in Hyperliquid and Venice AI. Forbes reported Hyperliquid’s HYPE token rose about 219% during the year and Venice AI’s VVV jumped roughly 1,006%. At the time of the report HYPE’s market cap was about $18 billion and VVV was north of $800 million. - Neither RockawayX nor Relayer have released audited performance figures, and key details — starting asset base, position sizes, whether returns are net of fees — remain undisclosed. Why the move matters - Liquid tokens and listed equities allow faster entry and exit compared with venture holdings that may be subject to vesting schedules or long private exits. That flexibility can help a firm react to market moves, but it also exposes the fund to price volatility, thin token liquidity and swings in listed crypto stocks. Where RockawayX stands today - The Prague-founded firm says it oversees roughly $2 billion across investment, liquidity and blockchain-infrastructure divisions, operating venture funds, a market-neutral credit strategy, validator infrastructure and on-chain liquidity businesses. - Its market-neutral fund, live since April 2022, reports a 42.59% absolute return since inception (net of fees). That open-ended vehicle offers monthly liquidity and charges a 1.6% management fee and a 15% performance fee; it’s only available to qualified investors in select European markets (including Liechtenstein, Switzerland, Czech Republic, Austria, Germany, France, Slovakia and the Netherlands). - RockawayX closed a $125 million second venture fund in Q1 2025 focused on early-stage blockchain projects (notably Solana, DeFi and infrastructure). The firm says its first venture fund delivered a 2.1x distributed-to-paid-in and a 5.4x MOIC, with past investments including Solana, Wintermute and Morpho Labs. Other recent moves and context - RockawayX and Forward Industries were among backers of a $5 million round for OnRe, a Solana-based reinsurance infrastructure play; Forward separately planned up to $25 million for OnRe’s yield token. - Earlier in 2026 the firm expanded into crypto-vault management via an acquisition of a noncustodial smart-contract manager, which reportedly had over $200 million in deposits at the time. - The planned liquid fund keeps RockawayX focused on digital assets even as some peers broaden mandates. For example, Paradigm and Framework Ventures have raised new funds that include crypto alongside AI, robotics and other tech sectors. Unfinished business: a failed tie-up and ensuing litigation - RockawayX’s attempted all-stock combination with Nasdaq-listed Solmate Infrastructure — announced as a nonbinding proposal in December 2025 — fell apart. Regulatory filings tied to that deal had valued RockawayX’s Fund I at about $771 million and Fund II at roughly $162 million as of Sept. 30, 2025. - After talks collapsed, related parties filed cross-claims in New York state court: an investment vehicle linked to RockawayX sued Solmate directors alleging self-dealing and dilution; Solmate countered with claims against RockawayX and CEO Viktor Fischer. Both matters remain pending. Bottom line RockawayX’s plan to raise a $150 million liquid opportunities fund signals a strategic push to monetize short-term and tradable crypto exposures while leveraging Relayer’s trading expertise. The move offers potential upside from high-performing tokens but comes with the usual caveats: reported returns are not audited, product terms haven’t been released, and liquid markets can be highly volatile. Investors will be watching for formal disclosures on fees, eligibility and whether U.S. investors will be allowed to participate. Read more AI-generated news on: undefined/news