While Others Go All-In on AI, RockawayX Doubles Down on Crypto

marsbit2026-08-27 tarihinde yayınlandı2026-08-27 tarihinde güncellendi

Özet

Cryptocurrency investment firm RockawayX, which manages around $20 billion in assets, is raising $150 million for a new liquidity opportunity fund after acquiring crypto hedge fund Relayer Capital. This move bucks the trend of crypto VCs pivoting to AI and robotics. Relayer, founded by former CoinFund partner Austin Barack, will manage the new fund, focusing on undervalued tokens and crypto-related stocks. The acquisition was likely motivated by Relayer's strong performance, with a roughly 70% return this year driven by positions in assets like Hyperliquid and Venice AI, which surged 219% and 1006%, respectively. This expansion is part of RockawayX's broader shift beyond traditional venture capital, having previously entered the crypto treasury management business. The firm is also currently engaged in separate lawsuits with Solana treasury company Solmate following a failed merger attempt.

Author: Nina Bambysheva, Forbes

Compiled by: TechFlow

TechFlow's Insight: While many crypto VCs are shifting their focus to AI and robotics, RockawayX is bucking the trend by acquiring Relayer Capital to further strengthen its crypto investments and raising funds for a new $150 million fund. Relayer's impressive ~70% returns this year, backed by strong holdings like Hyperliquid and Venice AI, give it the confidence to expand against the grain. This highlights that some crypto-native capital had already refocused on liquid assets before the market rebound, a development worth noting for investors.

According to people familiar with the matter, Prague-based digital asset investment firm RockawayX, which manages approximately $20 billion in assets, is seeking $150 million for a new liquid opportunities fund following its acquisition of crypto hedge fund Relayer Capital.

The sources indicate that Relayer founder Austin Barack, a former partner at crypto investment firm CoinFund, will remain at RockawayX to lead this fund. The fund will invest in "undervalued tokens and crypto-related stocks."

This move might have seemed contrarian prior to the recent rebound in the crypto market. Over the past week, Bitcoin, Ethereum, and Solana have surged over 20%. Meanwhile, several prominent crypto venture capital firms have expanded their investment scope to include artificial intelligence, robotics, and other technologies. This list includes San Francisco-based Paradigm and Framework Ventures.

However, Relayer's performance likely helped persuade these early Solana supporters to deepen their commitment to the crypto sector through this acquisition. The sources noted that Relayer holds positions in popular projects like perpetual futures exchange Hyperliquid and decentralized AI platform Venice AI. The tokens for these projects have risen 219% and 1006% respectively this year. This has contributed to Relayer's estimated ~70% return for the year, significantly outperforming Bitcoin, Ethereum, and Solana. Hyperliquid's token has a market cap of roughly $18 billion, while Venice AI's token is valued at over $800 million.

This acquisition is RockawayX's latest step in expanding from a traditional venture capital focus into broader areas. In February of this year, the firm entered the crypto treasury management business via another acquisition. A treasury is a non-custodial smart contract that pools user funds and deploys them into yield-generating strategies. These treasuries have since attracted over $200 million in deposits.

This expansion comes after its planned merger with Solana treasury firm Solmate fell through. In June, RockawayX's investment vehicle, RBCH Ltd., sued members of Solmate's board in a New York State court. RBCH Ltd., Solmate's largest external shareholder, alleged self-dealing and other misconduct by the board. Solmate had previously sued RockawayX and its CEO separately over the failed acquisition talks. It accused the firm of providing "misleading financial statements" and engaging in "fraudulent activity" that harmed its valuation. RockawayX has denied these allegations, calling them retaliatory. Both cases are ongoing.

İlgili Sorular

QWhat is RockawayX's strategy that goes against the current trend in the venture capital space?

AWhile many crypto-native venture capital firms are shifting their focus towards AI and robotics, RockawayX is going against the trend by deepening its commitment to crypto. It acquired Relayer Capital and is fundraising for a new $150 million liquidity opportunities fund focused on undervalued tokens and crypto-related stocks.

QWhat was a key factor that likely motivated RockawayX to acquire Relayer Capital?

AA key motivating factor was Relayer Capital's strong performance, which included holdings in high-performing projects like the perpetual futures exchange Hyperliquid and the decentralized AI platform Venice AI. These contributed to Relayer achieving a return of approximately 70% in the current year.

QWhich two specific crypto projects does Relayer Capital hold, and what were their reported gains?

ARelayer Capital holds positions in the perpetual futures exchange Hyperliquid, whose token rose 219%, and the decentralized AI platform Venice AI, whose token surged 1006% in the current year.

QApart from the Relayer Capital acquisition, what other expansion step into a new business area did RockawayX take earlier in the year?

AIn February, RockawayX expanded into the crypto treasury management business through another acquisition. These non-custodial smart contracts, or treasuries, have since attracted over $200 million in deposits.

QWhat legal disputes are mentioned involving RockawayX?

AThere are two ongoing legal cases. RockawayX's investment vehicle RBCH Ltd., the largest external shareholder of Solana treasury firm Solmate, sued Solmate board members in a New York court, alleging self-dealing and other misconduct. Separately, Solmate had previously sued RockawayX and its CEO, accusing them of providing misleading financial statements and engaging in fraudulent activities that harmed Solmate's valuation. RockawayX denies these claims, calling them retaliatory.

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