Key Takeaways
- • RockawayX, a Prague-based crypto VC managing approximately $2 billion in assets, is raising $150 million for a new liquid opportunities hedge fund following its acquisition of crypto hedge fund Relayer Capital.
- • Relayer Capital delivered approximately 70% returns in 2026, significantly outpacing Bitcoin, Ether, and Solana, driven by concentrated positions in Hyperliquid (up 219% year-to-date) and Venice AI (up 1,006% year-to-date).
- • Relayer founder Austin Barack, formerly a partner at CoinFund, will lead the new vehicle, which will focus on undervalued tokens and crypto-related equities rather than venture-stage investments.
- • The expansion into liquid crypto assets contrasts with strategic pivots by rival crypto VCs including Paradigm and Framework Ventures, which have broadened mandates to include artificial intelligence and robotics.
- • RockawayX has diversified beyond traditional venture investing through February 2026 acquisition of a crypto vault platform that has attracted over $200 million in deposits, demonstrating a broader push into alternative asset management within digital assets.
Summary
RockawayX, the Prague-based digital-asset investment firm, is pursuing a $150 million capital raise for a new hedge fund focused on liquid crypto opportunities, marking a significant expansion of its alternative investment platform. The initiative follows the firm's acquisition of Relayer Capital, a specialized crypto hedge fund, with Relayer founder Austin Barack—a former partner at CoinFund—remaining to lead the new vehicle. The fund will invest in undervalued tokens and crypto-related equities, positioning RockawayX to capitalize on demonstrated performance in the liquid crypto markets.
Relayer's track record provides substantial validation for this strategic shift. The fund delivered approximately 70% returns in 2026, materially outpacing major cryptocurrency indices. This performance was anchored by concentrated positions in high-performing assets: perpetual-futures exchange Hyperliquid, whose token has appreciated 219% year-to-date and commands a market capitalization of approximately $18 billion, and decentralized AI platform Venice AI, whose token has surged 1,006% year-to-date with a valuation exceeding $800 million.
RockawayX's move into liquid hedge fund management represents a deliberate differentiation strategy within the crypto venture ecosystem. While prominent competitors including Paradigm and Framework Ventures have broadened investment mandates to encompass artificial intelligence, robotics, and adjacent technologies, RockawayX is deepening its commitment to digital-asset-focused strategies. This approach reflects confidence in the sector's continued maturation and token-market opportunities.
The hedge fund expansion complements RockawayX's broader diversification beyond traditional venture capital. In February 2026, the firm acquired a crypto vault platform—a noncustodial smart contract infrastructure pooling user capital across yield-generating strategies—which has subsequently attracted over $200 million in deposits. This multi-pronged expansion into managed products, liquid markets, and yield infrastructure demonstrates RockawayX's evolution from a venture investor into a comprehensive alternative asset manager within the digital-asset space.
Relayer's track record provides substantial validation for this strategic shift. The fund delivered approximately 70% returns in 2026, materially outpacing major cryptocurrency indices. This performance was anchored by concentrated positions in high-performing assets: perpetual-futures exchange Hyperliquid, whose token has appreciated 219% year-to-date and commands a market capitalization of approximately $18 billion, and decentralized AI platform Venice AI, whose token has surged 1,006% year-to-date with a valuation exceeding $800 million.
RockawayX's move into liquid hedge fund management represents a deliberate differentiation strategy within the crypto venture ecosystem. While prominent competitors including Paradigm and Framework Ventures have broadened investment mandates to encompass artificial intelligence, robotics, and adjacent technologies, RockawayX is deepening its commitment to digital-asset-focused strategies. This approach reflects confidence in the sector's continued maturation and token-market opportunities.
The hedge fund expansion complements RockawayX's broader diversification beyond traditional venture capital. In February 2026, the firm acquired a crypto vault platform—a noncustodial smart contract infrastructure pooling user capital across yield-generating strategies—which has subsequently attracted over $200 million in deposits. This multi-pronged expansion into managed products, liquid markets, and yield infrastructure demonstrates RockawayX's evolution from a venture investor into a comprehensive alternative asset manager within the digital-asset space.
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