Lucía Peña
Crypto venture capital firm RockawayX, which oversees more than $2 billion in assets, has successfully closed its second investment fund, securing $125 million to support early-stage blockchain startups. The firm revealed that a significant portion of the new capital will be directed toward the Solana ecosystem, as well as projects in DeFi, infrastructure protocols, and decentralized networks.
RockawayX sees Solana as a standout in the blockchain space, citing its high-speed performance, low transaction fees, and developer-friendly environment. According to Samantha Bohbot, partner and Chief Growth Officer at RockawayX, Solana’s product-focused mentality sets it apart from other platforms that feel more experimental in nature.
“While other ecosystems resemble research projects, Solana runs like a tech company with a mission to build the leading blockchain platform and attract builders and institutions alike,” Bohbot explained.
Due to this conviction, RockawayX plans to allocate between 50% and 75% of the new fund — approximately $62 million to $94 million — to Solana-based initiatives.
A Deep Commitment to Solana Since 2018
RockawayX’s support for Solana isn’t new. The firm made early investments in Solana Labs back in 2019 and has since funded other Solana-native projects like Kamino Finance, Squads, and Switchboard.
Founder and CEO Viktor Fischer recalled the firm’s first interaction with Solana’s co-founders in 2018: “We met Anatoly and Raj during the 500 Startups program in San Francisco and decided to focus on building real applications on Solana rather than diversifying into new L1s,” he said. “Our team has provided hands-on support — from running validators to offering liquidity and operating hardware.”
An Engineering-First Investment Approach
RockawayX takes a unique, infrastructure-heavy approach to venture capital. The firm operates its own validator nodes from European data centers, builds specialized hardware tools like GPU rigs, and supports protocol development through its RockawayX Infrastructure division.
Its operations span multiple verticals:
-
Venture capital
-
Liquidity provisioning across DeFi
-
Web3 incubation via RockawayX Labs
-
On-chain market-making through a Solver Unit
It also runs a $110 million credit fund, one of the largest on-chain liquidity sources over the past three years, now focused primarily on deploying capital directly on-chain.
Early Success and Strong Returns Fuel New Fund
Fundraising for RockawayX’s second crypto fund began in March 2024, with over two-thirds of commitments locked in by Q1 2025, according to Bohbot. The fund officially closed in the same quarter, exceeding its original $120 million goal.
So far, around 20% of the fund has already been invested in emerging projects like DoubleZero, Exponent, Hyperlend, Silhouette, Fragmetric, and OnRe.
Notable limited partners include Rockaway Capital, high-net-worth individuals, family offices, and crypto founders — including Solana Labs’ Anatoly Yakovenko and Raj Gokal.
The fund’s strong momentum was supported by impressive performance from RockawayX’s first fund, which returned capital with a 2.1x DPI (Distributions to Paid-In) and a current 5.4x MOIC (Multiple on Invested Capital) — thanks to wins like Solana, Wintermute, and Morpho Labs.
Team Expansion and Open Positions
RockawayX currently employs over 45 professionals, with a strong emphasis on infrastructure. The firm is actively hiring for roles such as:
-
Infrastructure Analyst
-
Solana Ecosystem Researcher
-
Product Manager for the DoubleZero Network
With a powerful blend of technical expertise, long-term conviction, and deep involvement in the Solana ecosystem, RockawayX’s second fund is poised to play a major role in shaping the next wave of Web3 innovation.
