RockawayX, a prominent cryptocurrency venture capital firm managing over $2 billion in assets, has announced the successful close of its second fund, securing $125 million. The firm stated on Thursday that the new capital will be strategically deployed to support early-stage crypto startups, with a significant emphasis on the burgeoning Solana ecosystem.
Beyond Solana, RockawayX will also target investments in decentralized finance (DeFi), infrastructure protocols, and decentralized networks.
Samantha Bohbot, Partner and Chief Growth Officer at RockawayX, highlighted Solana’s technological advantages over Ethereum, citing its superior speed, lower costs, ease of development, and a product-focused approach. “Where other projects may feel like research efforts, Solana operates as a company with a mission to develop the dominant blockchain solution and promote it to builders and institutions,” Bohbot told The Block.
This conviction in Solana’s potential is reflected in RockawayX’s investment strategy for the new fund. The firm anticipates allocating between 50% and 75% – roughly $62 million to $94 million – specifically to projects building on the Solana blockchain, according to Bohbot.
This strong focus on Solana is not new for RockawayX. Their first fund, which raised $120 million, also heavily backed the Solana ecosystem. Notable investments from their initial fund include participation in Solana Labs’ funding round in 2019, as well as backing projects like Kamino Finance, Squads, and Switchboard.
