RockawayX is quietly building a new $150 million liquid crypto fund after acquiring boutique hedge shop Relayer Capital, according to people familiar with the matter — a move that would shift part of the Prague-founded firm’s focus toward tradable tokens and crypto-linked equities. What’s happening - RockawayX has begun marketing a proposed “liquid opportunities” vehicle targeting about $150 million. The fund is said to aim at undervalued tokens and crypto-related public equities, assets that are easier to trade than the private holdbacks typical of venture funds. - The acquisition of Relayer Capital — a one-person, thesis-driven cryptoasset fund founded by Austin Barack — has not been publicly announced and financial terms remain undisclosed. RockawayX has also not confirmed fund timing, minimums, fees, or distribution jurisdictions. Who will run it - Austin Barack, who founded Relayer after a stint as a partner at CoinFund, is expected to remain and manage the new vehicle. Relayer bills itself as focused on blockchain infrastructure, protocols and applications; public filings show Barack as its sole employee. Performance claims and key holdings - Unnamed sources told Forbes Relayer returned roughly 70% in 2026, driven in part by positions in Hyperliquid and Venice AI. Forbes reported HYPE rose about 219% in the year (a market cap near $18 billion at the time) and VVV jumped roughly 1,006% (market cap > $800 million). Neither RockawayX nor Relayer have released audited performance figures or detailed position data — starting NAV, position sizes and fee adjustments remain unknown. Why RockawayX is shifting - The planned fund would complement RockawayX’s venture and infrastructure businesses by providing exposure to liquid markets — meaning quicker entry and exit than private equity stakes or vested tokens. That said, liquid strategies still face price volatility, limited token liquidity in some markets, and moves in listed crypto equities. Where RockawayX stands today - RockawayX says it oversees about $2 billion across investment, liquidity and infrastructure units. Its product lineup includes venture funds, a market-neutral credit strategy, validator services and an on-chain liquidity business. - The firm’s market-neutral fund, running since April 2022, reports a 42.59% absolute return since inception (net of fees) and charges 1.6% management and a 15% performance fee. That fund is marketed to qualified investors in several European jurisdictions 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 Solana, DeFi and infrastructure). Its first venture fund reportedly delivered a 2.1x distributed-to-paid-in ratio and a 5.4x multiple on invested capital with portfolio names like Solana, Wintermute and Morpho Labs. - In February, RockawayX also acquired a crypto-vault management business that has routed more than $200 million in deposits through noncustodial smart contracts. Open questions and market context - Key fund details remain unknown: whether U.S. investors can participate, the fundraising timetable, minimum commitments and fee structure. Forbes did not disclose these items. - The new fund keeps RockawayX squarely in digital assets while some leading crypto VCs — such as Paradigm (which in July closed a $1.2 billion fund covering crypto, AI, robotics and more) and Framework Ventures (a $400 million fund with broader tech allocations) — have broadened mandates to include AI, robotics and industrial tech. Background on the failed Solmate tie-up - RockawayX’s expansion has unfolded alongside a collapsed proposed combination with Nasdaq-listed Solmate Infrastructure. A December 2025 nonbinding all-stock deal was expected to merge RockawayX’s operations with Solmate’s Solana treasury business. - A regulatory filing tied to that proposal valued RockawayX’s first venture fund at about $771 million and its second fund at $162 million as of Sept. 30, 2025; the credit fund held roughly $103 million as of Oct. 31, and about $1.1 billion was staked through RockawayX validators (with some overlap between staked assets and venture holdings). - After talks broke down, RockawayX-linked vehicle RBCH sued Solmate directors in New York state court alleging self-dealing and dilution. Solmate denied those claims and filed counterclaims against RockawayX and CEO Viktor Fischer. Both suits remain pending. Bottom line RockawayX’s reported $150 million liquid opportunities fund would tilt the firm toward faster-turnaround digital-asset strategies and public equities while leveraging Relayer’s track record and Austin Barack’s trading experience. Much about the fund — including audits, exact mandate details and investor eligibility — is still under wraps, leaving room for scrutiny as the firm markets the vehicle to potential limited partners. Read more AI-generated news on: undefined/news