RockawayX, the Prague-based digital-asset investment firm overseeing about $2bn, is targeting $150m for a new liquid strategies hedge fund as it expands beyond venture investing into cryptocurrencies and crypto-related equities, according to a report by Forbes.

The firm is launching the vehicle following its acquisition of crypto hedge fund Relayer Capital, according to people familiar with the plans.

Relayer founder Austin Barack, previously a partner at crypto investment firm CoinFund, is staying on at RockawayX and will manage the new strategy. The fund is expected to focus on what the firm sees as mis-priced or undervalued tokens, alongside equities linked to the cryptocurrency industry, the sources said.

The expansion comes as the crypto market has regained momentum, with bitcoin, ether and solana each rising more than 20% over the past week.