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# RockawayX Acquires Relayer Capital, Targets $150M for New Liquid Crypto Fund
- URL: https://www.solanahorizon.com/rockawayx-acquires-relayer-capital-targets-150m-for-new-liquid-crypto-fund/
- Published: 2026-08-26T16:07:50.000Z
- Updated: 2026-08-26T16:07:50.000Z
- Description: The early Solana backer is expanding into directional liquid markets after acquiring Relayer Capital, whose strategy has returned roughly 70% net in 2026.
- Author: Bart Hillerich
- Tags: RockawayX, News, Viktor Fischer, Austin Barack

RockawayX has [acquired crypto hedge fund Relayer Capital](https://www.rockawayx.com/insights/rockawayx-acquires-crypto-focused-hedge-fund-firm-relayer-capital-and-launches-liquid-opportunities-fund?ref=solanahorizon.com) and is reportedly seeking $150 million for a new fund focused on liquid crypto tokens and crypto-related equities.

Relayer will be rebranded as the RockawayX Liquid Opportunities Fund, with founder [Austin Barack](https://x.com/AustinBarack?ref=solanahorizon.com) joining RockawayX as CIO and continuing to manage the strategy. The fund is open to new external investors and will operate as a directional long/short strategy focused on finding undervalued assets across crypto markets.

The acquisition gives RockawayX a directional liquid strategy alongside its existing venture, market-neutral, onchain liquidity and infrastructure businesses. It also expands the firm's U.S. presence, with Barack based in the New York area.

## Relayer Returned Roughly 70% in 2026

Relayer enters RockawayX after a strong year of performance.

The strategy has generated an estimated net return of approximately 70% year-to-date, outperforming an equal-weighted basket of Bitcoin, Ethereum and Solana by 86% as of August 21.

RockawayX attributed much of that performance to early positions across two themes: artificial intelligence and the growth of 24/7 onchain markets. Significant contributors included Venice AI, Hyperliquid, Zcash and two projects closely tied to the Solana ecosystem, Grass Network and Pump.fun.

The strategy uses both long and short positions, including pair trades, to express fundamental views while reducing exposure to broader market movements when appropriate.

That approach reflects RockawayX's view that crypto markets are increasingly producing businesses and protocols that can be evaluated on fundamentals instead of solely through broader token market cycles.

> *“There are now crypto businesses with real revenues and strong fundamentals that we can underwrite,” RockawayX CEO Viktor Fischer said.*

## RockawayX Expands Beyond Venture Investing

The acquisition is particularly notable given RockawayX's history within Solana.

RockawayX was a seed backer of Solana and today says it has investments in more than 15 leading projects across the ecosystem. Its [$125 million second venture fund](https://www.rockawayx.com/insights/rockawayx-announces-the-close-of-its-new-125m-crypto-venture-fund?ref=solanahorizon.com), closed in 2025, was also launched with a primary focus on deploying capital into Solana alongside DeFi and infrastructure opportunities.

The new Liquid Opportunities Fund is not exclusively focused on Solana, but it gives RockawayX another way to deploy capital as crypto projects move beyond private fundraising and begin trading in public token markets.

For founders, that expands the firm's potential involvement across more of a project's lifecycle. RockawayX can invest at the venture stage, provide liquidity as protocols launch and scale, and now take directional positions in tokens or related public equities once those assets reach liquid markets.

The acquisition follows RockawayX's expansion into vault curation, a business vertical that has grown to nearly $200M in AUM since launching earlier this year. Across its businesses, the firm now operates venture, market-neutral and directional liquid strategies alongside dedicated infrastructure and onchain liquidity divisions.

![](https://storage.ghost.io/c/c3/51/c351e7b1-5954-41b4-b459-2054fd8f5899/content/images/2026/08/image-12.png)

RockawayX Vault Curation Growth | [DeFiLlama](https://defillama.com/protocol/rockawayx?fees=false&ref=solanahorizon.com)

Barack believes current crypto valuations are creating an attractive environment for the strategy, comparing the opportunity to periods following previous market downturns in 2020 and 2023.

> *"I believe we have seen clear signs that crypto markets have bottomed. The fund is focused on growth, value, and category leaders with durable market share. The market is ripe for this strategy as these assets remain meaningfully undervalued," Barack said. "The current setup presents opportunities similar to the emergence from prior bear markets in 2020 and 2023 when we saw major positive price re-ratings."*