While Peers Shift to AI, This $2 Billion Crypto VC Firm Plans to Raise an Additional $150 Million to Double Down on Crypto

marsbit2026-08-26 tarihinde yayınlandı2026-08-26 tarihinde güncellendi

Özet

Cryptocurrency investment firm RockawayX, managing around $20 billion, is raising a $150 million liquidity fund while its peers shift focus to AI. This move follows its acquisition of crypto hedge fund Relayer Capital, whose founder Austin Barack will lead the new fund targeting undervalued tokens and crypto stocks. Relayer's strong performance, with ~70% returns this year driven by positions in assets like Hyperliquid (up 219%) and Venice AI (up 1006%), underpins the strategy. The expansion contrasts with other VCs but aligns with RockawayX's broader push beyond venture capital, including entering crypto treasury management earlier in 2024. The firm is also involved in ongoing legal disputes related to a failed merger attempt with Solana firm Solmate.

Author:Nina Bambysheva

Compiled by: Deep Tide TechFlow

Deep Tide's Insight: While crypto venture capital peers are moving their focus to AI and robotics, RockawayX is doubling down on crypto through its acquisition of Relayer Capital and is raising funds for a new $150 million fund. Relayer's approximate 70% return this year, along with strong positions in projects like Hyperliquid and Venice AI, provides the confidence for this contrarian expansion. This reflects that some crypto-native capital has refocused on liquid assets ahead of the market rebound, which deserves investors' attention.

According to sources familiar with the matter, RockawayX, a Prague-based digital asset investment firm managing approximately $2 billion in assets, is seeking $150 million for a new liquidity opportunities fund following its acquisition of crypto hedge fund Relayer Capital.

The sources said that Austin Barack, founder of Relayer and 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 before the recent crypto market rally. Over the past week, Bitcoin, Ethereum, and Solana have all surged more than 20%. Meanwhile, several prominent crypto VCs have expanded their investment scope to include artificial intelligence, robotics, and other technologies. These include San Francisco-based Paradigm and Framework Ventures.

However, Relayer's performance likely helped convince these early Solana backers to deepen their commitment to this track by acquiring the fund. Sources indicated that Relayer holds positions in hot projects such as the perp exchange Hyperliquid and the decentralized AI platform Venice AI. Their respective tokens have risen by 219% and 1006% this year. This has driven Relayer's year-to-date returns to around 70%, significantly outperforming Bitcoin, Ethereum, and Solana. The Hyperliquid token's market cap is about $18 billion, and the Venice AI token is valued at over $800 million.

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

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

İlgili Sorular

QWhat is RockawayX doing that goes against the current trend in the crypto venture capital space?

AWhile many crypto venture capital firms are shifting their focus towards AI and robotics, RockawayX is doubling down on crypto. They are seeking to raise $150 million for a new fund after acquiring the crypto hedge fund Relayer Capital.

QWhy was RockawayX confident in expanding its crypto investments despite the market conditions?

ARockawayX's confidence stemmed from the strong performance of the newly acquired Relayer Capital fund. Relayer reportedly achieved a return of about 70% this year, driven by positions in high-performing assets like Hyperliquid and Venice AI, which significantly outperformed major cryptocurrencies.

QWhat type of investments will the new $150 million fund managed by Austin Barack focus on?

AThe new $150 million liquidity opportunities fund, to be managed by Austin Barack, will focus on investing in "undervalued tokens and crypto-related stocks."

QApart from venture capital, what other business area has RockawayX recently expanded into?

ABeyond traditional venture capital, RockawayX expanded into crypto treasury management earlier this year through an acquisition. These non-custodial smart contract vaults have since attracted over $200 million in deposits.

QWhat legal disputes is RockawayX currently involved in?

ARockawayX is involved in two ongoing lawsuits. Its investment vehicle, RBCH Ltd., sued Solmate's board members for alleged self-dealing. Separately, Solmate sued RockawayX and its CEO over a failed merger, alleging misleading financials and fraudulent activity. RockawayX denies these claims as retaliatory.

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