RockawayX, an investment company, receives$ 125 million for Solana Projects ‘ early-stage funding.

A new early-stage venture capital fund, led by funding company RockawayX, has successfully raised$ 125 million to help crypto-focused populations, particularly those that are located close to Solana.

According to a speech from RockawayX, the funding company intends to use the newly raised resources to find and finance initiatives that promote the growth of the Solana ecosystem, which is the second-largest Layer 1 by total worth locked. &nbsp,

” Rather than making more L1 investments, we focused on developing programs on Solana and becoming the primary users for our founders,” said RockawayX CEO and founder Viktor Fischer in the speech.

Which businesses are providing cash for RockawayX’s fresh venture capital fund at this time? In the past, money administrators have largely forgotten who their cash providers are to be. &nbsp,

The Solana Foundation is a major profitability provider for the fund, according to a source with knowledge of the situation. &nbsp,

RockawayX supported the show’s plant raise when it made its initial investment in the Solana ecology in 2018, according to the company. Since then, the business has collaborated on more than 15 Solana initiatives, including Kamino, Squads, Exponent, and DoubleZero. &nbsp,

A rep for RockawayX claims that the network’s partnership with the Solana Foundation and Helius Labs and the upcoming release of the Dubai-based Solana City pedal gateway enables the company to identify promising Solana jobs. &nbsp,

The investment agency’s efforts to increase construction on Solana are being slowed as the once-popular system, which was the pinnacle of last year’s meme coin craze, grows.

According to DeFi Llama data, Solana’s full price locked, a measurement that frequently serves as a surrogate for consumer engagement on a particular blockchain, has dropped by almost 30 % to$ 9.16 billion in the last three months. &nbsp, &nbsp,

In addition, the local level 1 token has dropped 41 % to$ 148.26 over the past three weeks as joke coin investing cools, according to CoinGecko data.

edited by Sebastian Sinclair