RockawayX, the Prague-based digital-asset investment firm that manages approximately $2 billion, is seeking $150 million for a new liquid opportunities fund following its acquisition of crypto hedge fund Relayer Capital, according to sources familiar with the matter.

Relayer founder Austin Barack, a former partner at crypto investment firm CoinFund, will remain with RockawayX to lead the vehicle, which will invest in “undervalued tokens and crypto-related equities,” the sources said.

The move might have appeared contrarian before crypto’s recent rally, which has lifted bitcoin, ether and solana by more than 20% over the last week, as several prominent crypto venture firms,…