Key Takeaways
- • RockawayX, a Prague-based digital-asset firm managing approximately $2 billion in assets, is raising $150 million for a new liquid strategies hedge fund focused on cryptocurrency and crypto-related equities.
- • The fund launch follows RockawayX's acquisition of Relayer Capital, a cryptocurrency hedge fund, with Austin Barack—formerly a partner at CoinFund—retained as portfolio manager for the new strategy.
- • The new vehicle will target mis-priced or undervalued tokens and equity positions in cryptocurrency industry companies, representing RockawayX's expansion from venture investing into liquid crypto strategies.
- • The fundraising initiative capitalizes on renewed momentum in digital asset markets, with bitcoin, ether, and solana each posting gains exceeding 20% in the week preceding the announcement.
Summary
RockawayX, the Prague-based digital-asset investment manager, is pursuing a $150 million capital raise for a newly launched hedge fund targeting liquid cryptocurrency and crypto-related equity strategies. The firm, which currently oversees approximately $2 billion in assets under management, is using the vehicle to broaden its investment mandate beyond traditional venture capital into a more liquid asset class focused on direct cryptocurrency exposure and publicly traded companies within the digital-asset ecosystem.
The fund launch was catalyzed by RockawayX's acquisition of Relayer Capital, a cryptocurrency-focused hedge fund. Austin Barack, the founder of Relayer Capital and a former partner at crypto investment firm CoinFund, has been retained to lead portfolio management for the new strategy. This retention of key personnel reflects RockawayX's commitment to maintaining investment continuity and leveraging Barack's track record and sector expertise.
The fund's stated investment thesis centers on identifying mis-priced or undervalued digital assets and cryptocurrency-linked equities, suggesting a value-oriented approach within the crypto investment space. This strategic positioning differs from momentum-driven or macroeconomic-based crypto strategies and indicates RockawayX's confidence in identifying inefficiencies within digital-asset markets.
The timing of the fundraise coincides with a notable recovery in cryptocurrency valuations. At the time of the announcement, bitcoin, ether, and solana had each appreciated more than 20% within a one-week period, reflecting strengthened investor risk appetite and renewed institutional interest in the sector. This market backdrop likely supports RockawayX's capital-raising efforts and validates the firm's decision to expand into liquid crypto strategies.
The fund launch was catalyzed by RockawayX's acquisition of Relayer Capital, a cryptocurrency-focused hedge fund. Austin Barack, the founder of Relayer Capital and a former partner at crypto investment firm CoinFund, has been retained to lead portfolio management for the new strategy. This retention of key personnel reflects RockawayX's commitment to maintaining investment continuity and leveraging Barack's track record and sector expertise.
The fund's stated investment thesis centers on identifying mis-priced or undervalued digital assets and cryptocurrency-linked equities, suggesting a value-oriented approach within the crypto investment space. This strategic positioning differs from momentum-driven or macroeconomic-based crypto strategies and indicates RockawayX's confidence in identifying inefficiencies within digital-asset markets.
The timing of the fundraise coincides with a notable recovery in cryptocurrency valuations. At the time of the announcement, bitcoin, ether, and solana had each appreciated more than 20% within a one-week period, reflecting strengthened investor risk appetite and renewed institutional interest in the sector. This market backdrop likely supports RockawayX's capital-raising efforts and validates the firm's decision to expand into liquid crypto strategies.
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