Key Takeaways
- • RockawayX, a Prague-based crypto venture capital firm with $2 billion in assets under management, closed its second early-stage fund at $125 million in Q1 2025 following an oversubscribed fundraising period.
- • The fund will allocate up to 75% of capital to the Solana ecosystem, where RockawayX was a seed-stage backer, alongside other high-potential crypto projects leveraging the firm's expertise in liquidity provision and crypto-native infrastructure.
- • RockawayX's first venture fund (VCI 2021) achieved 2.1x Distributed Profit Index (DPI) with 5.4x Multiple on Invested Capital (MOIC), generating cash returns to investors while maintaining long-term upside in key positions including Solana, Wintermute, and Morpho Labs.
- • The firm has established partnerships with 15+ leading Solana ecosystem projects including Kamino Finance, Squads, Fragmetric, Switchboard, and DoubleZero, strengthening its competitive positioning in early-stage deal sourcing and founder support.
- • RockawayX plans to launch the Solana City accelerator hub in Dubai in partnership with the Solana Foundation and Helius Labs, differentiating its value proposition through infrastructure development and geographic expansion.
Summary
RockawayX announced the close of its second early-stage crypto venture capital fund at $125 million on April 24, 2025, completing an oversubscribed fundraising round in the first quarter. The Prague-based firm, which manages approximately $2 billion in assets under management, credits the successful closure to demonstrated performance from its 2021 vintage fund and its engineering-first investment approach in a challenging broader crypto venture environment.
The firm's track record provided critical evidence of fund performance in a market environment characterized by what Bloomberg has described as a "standstill" for crypto venture capital. RockawayX's VCI 2021 fund achieved 2.1x Distributed Profit Index (DPI) with a 5.4x Multiple on Invested Capital (MOIC), delivering cash returns to limited partners while maintaining long-term equity positions in marquee winners including Solana, Wintermute, and Morpho Labs. According to Founder and CEO Viktor Fischer, "We closed this raise because our 2021 fund has delivered cash returns to LPs, while retaining long-term upside in key positions," emphasizing that investors validated the firm's repeatable investment thesis despite sector-wide challenges.
The new fund will allocate up to 75% of capital to the Solana ecosystem and other high-potential projects, with a strategic focus on yield-generating early-stage companies. RockawayX leverages its seed-stage Solana backing and existing partnerships with 15+ ecosystem leaders—including Kamino Finance, Squads, Fragmetric, Switchboard, and DoubleZero—to identify and support next-generation founders. The firm will deploy its core competency in liquidity provision and crypto-native infrastructure development to create competitive advantages in deal sourcing and portfolio company value creation.
RockawayX is differentiating its market positioning through geographic expansion and ecosystem infrastructure development. The firm plans to launch the Solana City accelerator hub in Dubai in partnership with the Solana Foundation and Helius Labs, creating a physical hub for founder support and project development. This initiative reflects the firm's strategy of combining capital deployment with hands-on ecosystem building, positioning it distinctly against competitors in an environment where cash-only returns have become increasingly difficult to demonstrate.
The firm's track record provided critical evidence of fund performance in a market environment characterized by what Bloomberg has described as a "standstill" for crypto venture capital. RockawayX's VCI 2021 fund achieved 2.1x Distributed Profit Index (DPI) with a 5.4x Multiple on Invested Capital (MOIC), delivering cash returns to limited partners while maintaining long-term equity positions in marquee winners including Solana, Wintermute, and Morpho Labs. According to Founder and CEO Viktor Fischer, "We closed this raise because our 2021 fund has delivered cash returns to LPs, while retaining long-term upside in key positions," emphasizing that investors validated the firm's repeatable investment thesis despite sector-wide challenges.
The new fund will allocate up to 75% of capital to the Solana ecosystem and other high-potential projects, with a strategic focus on yield-generating early-stage companies. RockawayX leverages its seed-stage Solana backing and existing partnerships with 15+ ecosystem leaders—including Kamino Finance, Squads, Fragmetric, Switchboard, and DoubleZero—to identify and support next-generation founders. The firm will deploy its core competency in liquidity provision and crypto-native infrastructure development to create competitive advantages in deal sourcing and portfolio company value creation.
RockawayX is differentiating its market positioning through geographic expansion and ecosystem infrastructure development. The firm plans to launch the Solana City accelerator hub in Dubai in partnership with the Solana Foundation and Helius Labs, creating a physical hub for founder support and project development. This initiative reflects the firm's strategy of combining capital deployment with hands-on ecosystem building, positioning it distinctly against competitors in an environment where cash-only returns have become increasingly difficult to demonstrate.
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