#SOL

$SOL 🧐

Crypto VC firm RockawayX has launched a $125 million fund focused on early-stage Solana-based projects. With a track record of success and a hands-on investment strategy, the firm aims to capitalize on yield-generating DeFi opportunities.

RockawayX Bets Big on Solana Again with Strategic Investment

RockawayX, the Prague-based venture firm that backed Solana before it even launched, has raised a new $125 million fund to support early-stage projects building on the Solana blockchain.

According to Forbes, the new vehicle, finalized in Q1 2025, will target yield-generating applications, with two-thirds allocated to seed-stage investments.

Led by CEO Victor Fischer, RockawayX is leaning into its engineering-first, hands-on strategy that helped the firm’s 2021 fund return more than 5x capital. Backers include previous investors who were encouraged by RockawayX’s wins in Solana, Wintermute, and Morpho Labs.

Rather than investing in more L1s (core blockchains), we focused on building applications on Solana and being the first user for our founders, from providing liquidity to running solvers and operating hardware services.

As stablecoin adoption climbs, Fischer sees demand for decentralized yield opportunities rising. RockawayX already manages a $100 million on-chain credit pool yielding 12% and is positioning itself as a core player in DeFi income strategies.

Despite Solana‘s current image as a trading-focused network, Fischer believes it has untapped yield potential. Around 65% of SOL is staked, earning a roughly 8% return, compared to only 28% of ETH, leaving less SOL in lending and DeFi protocols.

RockawayX will open “ Solana City,” a Dubai accelerator for Solana startups, in partnership with the Solana Foundation and Helius Labs, on May 1 to deepen its ecosystem play.