RockawayX, a Prague-based venture firm with early backing in Solana, has secured $125 million for a new fund targeting early-stage projects building on the Solana blockchain. Finalized in Q1 2025, the fund will primarily focus on yield-generating applications, with approximately two-thirds of capital allocated to seed-stage investments. CEO Victor Fischer is leveraging the firm’s engineering-first approach that previously helped its 2021 fund achieve impressive 5x returns, attracting repeat investors who benefited from successful bets on Solana, Wintermute, and Morpho Labs.
The investment strategy emphasizes practical ecosystem support rather than backing additional Layer-1 blockchains. “Rather than investing in more L1s, 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,” Fischer explained. This hands-on methodology includes RockawayX’s management of a $100 million on-chain credit pool currently yielding 12%, positioning the firm as a significant player in decentralized finance income strategies as stablecoin adoption continues to rise.
Fischer sees substantial untapped yield potential in the Solana ecosystem despite its reputation as primarily trading-focused. Currently, approximately 65% of SOL is staked at roughly 8% returns, compared to only 28% of ETH, indicating significant room for growth in Solana’s lending and DeFi protocols. To further strengthen its ecosystem commitment, RockawayX will launch “Solana City,” a Dubai-based accelerator for Solana startups on May 1, in collaboration with the Solana Foundation and Helius Labs.
