Author: Nina Bambysheva

Translation: Deep Tide TechFlow

Deep Tide Guide: While crypto venture capital peers are pulling the battle line towards AI and robotics, RockawayX continues to double down on crypto by acquiring Relayer Capital and is raising funds for a new $150 million fund. Relayer's approximately 70% return this year, along with strong positions in Hyperliquid, Venice AI, and others, provides the confidence to expand against the trend. This reflects that some crypto-native capital has already refocused on liquid assets before the market rebound, which is worth investors' attention.

According to insiders, the Prague-based digital asset investment firm RockawayX manages approximately $2 billion in assets. After acquiring the crypto hedge fund Relayer Capital, the firm is seeking $150 million for a new liquidity opportunity fund.

Insiders say Relayer founder Austin Barack, who previously served as a partner at crypto investment firm CoinFund, will stay at RockawayX to oversee the fund. The fund will invest in "undervalued tokens and crypto-related stocks."

This move might seem counter-trend before the recent rebound in the crypto market. In the past week, Bitcoin, Ethereum, and Solana have risen more than 20%. Meanwhile, several well-known crypto venture capitals have expanded their investment scope into artificial intelligence, robotics, and other technologies. This includes San Francisco's Paradigm and Framework Ventures.

However, Relayer's performance may have helped persuade these early Solana supporters to deepen their commitment to this track through the acquisition of the fund. Insiders say Relayer holds popular project positions, like perpetual contract exchange Hyperliquid and decentralized AI platform Venice AI. These two tokens have risen 219% and 1006% this year, respectively. This gives Relayer an approximate return rate of 70% this year, far exceeding Bitcoin, Ethereum, and Solana. The Hyperliquid token has a market cap of about $18 billion, and the Venice AI token is valued at over $800 million.

This acquisition marks the latest step for RockawayX to expand from traditional venture capital into broader fields. 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 occurred following the collapse of its merger with Solana asset management firm Solmate. In June, RockawayX's investment vehicle RBCH Ltd. sued Solmate board members in a New York court. RBCH Ltd. is Solmate’s largest external shareholder and accuses the board of self-dealing and other misconduct. Solmate had previously separately sued RockawayX and its CEO over failed acquisition negotiations, accusing the company of providing "misleading financial statements" and engaging in "fraudulent activities" that harmed valuations. RockawayX denies these allegations, claiming they are acts of retaliation. Both cases are still pending.