Funding Secured: RockawayX Receives $125 Million for Early-Stage Ventures Focused on Solana-Based Initiatives
Rotating the Dialogue
headed to the crypto world, investment firm RockawayX just raised an impressive $125 million for a new venture capital fund! This time, they're zoning in on the Solana ecosystem.
Crypto enthusiasts, get ready! RockawayX is diving deep into the Solana scene, with plans to boost projects that are shaping this blockchain world. As the second-largest Layer 1 blockchain, Solana offers a golden opportunity, according to RockawayX.
"We're all-in on building applications on Solana," announced CEO Viktor Fischer in a statement. The firm has made a name for itself, providing liquidity and running solvers, and operating hardware services for numerous Solana projects since 2018.
But who's fueling RockawayX's new fund? A confidential source reveals that Solana Foundation is a significant contributor to their fund's liquidity. The firm's partnerships with more than 15 Solana projects, such as Kamino, Squads, Exponent, and DoubleZero, mean they've got their eye on the Solana prize.
The Solana buffs at RockawayX are committing to the network even as user engagement seems to be slipping - Solana's Total Value Locked has dropped 30% over the past three months to $9.16 billion, according to DeFi Llama data. Meanwhile, its native token has plunged 41%, according to CoinGecko data. But RockawayX doesn't seem deterred.
Despite Solana being at the heart of last year's meme coin craze, RockawayX sees thekélatest push as a strategic move. They've got a proven track record with Solana and are eager to invest in engineering-focused and infrastructure-rich projects that are Solana's bread and butter. Their bullish attitude stems from a belief in the long-term growth and innovation potential of the Solana ecosystem, even despite short-term dips in user interest.
So, while some folk think Solana's star is fading, RockawayX sees it as a fantastic chance to keep building and bringing exciting projects to the scene. Let the Solana party continue!
EDITED BY Sebastian Sinclair
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- RockawayX, with a newly raised $125 million fund, is planning to invest in Solana's decentralized world, capitalizing on the golden opportunity presented by Solana's blockchain technology.
- CEO Viktor Fischer, known for RockawayX's earlier support in Solana projects, emphasized their dedication to building applications on the Solana platform.
- The Solana Foundation has reportedly contributed significantly to RockawayX's new fund, highlighting their commitment to the Solana ecosystem.
- With partnerships with over 15 Solana projects, such as Kamino, Squads, Exponent, and DoubleZero, RockawayX aims to invest in projects that align with their interests.
- Amidst Solana's recent dip in user engagement and native token plummet, RockawayX remains undeterred, viewing this as a strategic stage for long-term growth and innovation within the Solana ecosystem.
- Despite Solana's role in the meme coin frenzy last year, RockawayX sees the latest push as an opportunity to invest in projects focused on engineering and infrastructure, which are Solana's key strengths.
- RockawayX's bullish attitude drives them to keep building and supporting exciting projects in the Solana world, unfazed by short-term fluctuations in user interest, and as a result, the Solana party continues.
