RockawayX, a venture capital firm based in Prague and an early investor in Solana, has launched a new $125 million fund aimed at early-stage crypto startups, particularly within the Solana ecosystem.
This announcement is amidst a global decline in crypto venture funding, with U.S. investments dropping 22% in early 2025. Led by founder and CEO Victor Fischer, RockawayX has grown to manage approximately $2 billion in assets and operates data centres in Prague, Dubai, and London, employing a team of 45, two-thirds of whom are engineers.
The new fund, finalized in Q1 2025, will allocate about two-thirds of its capital to seed-stage investments while keeping the rest in liquid, income-generating assets. The firm focuses on supporting applications built on Solana by acting as a primary user for founders and providing liquidity, hardware, and operational support. This hands-on strategy has proven successful, with their 2021 fund achieving more than double the investor returns and currently valued over five times its original capital due to early investments in Solana, Maker, and Morpho.
Fischer notes an increasing demand for on-chain yield as stablecoin usage rises, with RockawayX managing a $100 million on-chain credit pool that yields around 12% annually. He emphasizes Solana’s potential as a yield-generating platform, with a high staking rate of nearly 65% of all SOL, compared to 28% of ETH on Ethereum. While this means fewer SOL tokens are available for lending and DeFi applications, it underscores the strong incentives for users on Solana.
RockawayX has invested in over 15 projects within the Solana ecosystem and will launch “Solana City,” a Dubai-based accelerator hub, on May 1, in partnership with the Solana Foundation and Helius Labs.
Notably, DeFi Development Corporation (JNVR), formerly Janover, has significantly increased its Solana (SOL) holdings, signalling a strategic shift toward cryptocurrency investments. Following a buyout led by former Kraken executives on April 7, the company has been building its Solana-based reserve treasury.
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