RockawayX Secures $125 Million for Solana-Focused Investments

RockawayX has closed its second fund at $125 million, overshooting its initial goal of $120 million. Fundraising began in March 2024, primarily attracting support in late 2024 and early 2025. With 20% already deployed into various projects, the firm continues to prioritise Solana-focused investments, aiming for 50-75% of the fund for early-stage crypto startups.

RockawayX, a venture capital firm focusing on the Solana blockchain, has successfully closed its second fund, bringing in a total of $125 million. Originally aiming for $120 million, the firm began fundraising in March 2024 and secured much of the amount during the fourth quarter of 2024 and the first quarter of 2025. As per Samantha Bohbot, partner and chief growth officer at RockawayX, the fund was hailed as oversubscribed, indicating strong investor interest.

The new fund, robustly supported by Rockaway Capital, which was also a backer of the firm’s inaugural fund, has drawn in investments from a variety of sources. Among these are family offices, private equity firms, high-net-worth individuals, and several notable crypto founders. Roughly 20% of the fund has already been put to work in projects such as DoubleZero, Exponent, Hyperlend, Silhouette, Fragmetric, and OnRe.

Following its previous investment strategy, RockawayX plans to allocate between 50% and 75%—estimated at around $64 million to $94 million—towards early-stage projects built on the Solana network. The remaining portion of the fund will go into decentralised finance (DeFi), infrastructure protocols, and various decentralised networks, as outlined in their announcement.

Bohbot elaborated on the firm’s commitment to Solana, describing it as a framework where nascent projects can thrive more than mere speculative efforts. She emphasised Solana’s dedicated mission to establish itself as a leading blockchain platform widely used by developers and institutions.

This isn’t RockawayX’s first venture into Solana-based initiatives; their inaugural fund had similar goals, helping fund Solana Labs in its 2019 escapade, and supporting projects such as Kamino Finance and Squads among others. Viktor Fischer, the founder and CEO of RockawayX, noted their long-standing relationship with Solana co-founders Anatoly and Raj, dating back to early meetings at the 500 Startups incubator in San Francisco back in 2018. Instead of adding to the Layer 1 blockchain race, they’ve concentrated on fostering applications on Solana, securing positions as essential users for their founders, including providing liquidity and operating hardware services.