That hands-on ethos worked. RockawayX’s 2021 fund has more than doubled investors’ money and is marked at over five times the invested capital, buoyed by early wagers on Solana (whose market cap has ballooned from $86 million in early 2021 to roughly $78 billion today), market maker Wintermute and lending platform Morpho Labs. That record convinced its investors to re-up just as U.S. crypto VC investment fell 22% in the first quarter, PitchBook data shows.