RockawayX’s first fund has is valued at more than five times the invested amount as of April 2025

Event date

April 24, 2025

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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.

RockawayX credited the successful raise of the second fund to the ability to return capital from its first fund. That fund delivered a 2.1x DPI (distributions to paid-in capital) and currently holds a 5.4x MOIC (multiple on invested capital), including wins like Solana, Wintermute and Morpho Labs, the firm said.

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Week 17 of 2025