Scenius Capital raises $20M for new fund of emerging crypto VC funds
Scenius Capital also announced that ParaFi took a strategic GP stake
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Scenius Capital is making some moves.
Ben Jacobs, co-founder and managing partner, told Blockworks exclusively that the firm just closed a “slightly oversubscribed” $20 million fundraise for a fund of emerging crypto VC funds.
“We think we’ve carved out a unique niche and a very important one in the asset class, where we’re backing emerging managers exclusively. So [by] investing in small funds…early in their firm history, managers that we think have established a clear edge in a domain, a geography, and ecosystem, and we’re excited to back them at the earliest stages,” Jacobs told me.
“We think that’s where the best returns will come from,” he added.
As Jacobs noted, it’s been quite a rough year for fundraising. We’ve seen both multi-billion dollar months, but then some months — like May for example — fell short of expectations.
“It hasn’t been necessarily the easiest fundraising environment through ‘24 and ‘25, and we do believe that our ability to launch and close even a slightly oversubscribed $20 million dollar vehicle is a huge testament to the value that we’re bringing to the market, and recognition from the market that we are doing things in a high-integrity, high-quality way,” co-founder Greg d’Incelli added.
“Closing the VC fund was a huge accomplishment for us,” he continued. “We think both Scenius and the overall asset class are at an important moment — a pivotal moment — that we’ve seen sort of with evolving regulation in a positive sense, both in the US through the Trump administration and globally.”
But the $20 million raise isn’t the only thing that Scenius is announcing. Jacobs and d’Incelli also told Blockworks that ParaFi is taking a strategic stake in Scenius.
“Having [ParaFi’s] support, we think, really gives us a partner that has grown into an institutional, broadly trusted firm, and we hope to follow in their footsteps. And we think the launch of this new fund is one of those footsteps, and the development of this token capital markets arm is a second step. So, yeah, it’s very exciting, and we’re thrilled for where things go from here,” Jacobs said.
D’Incelli added that Scenius “always wanted to be aligned with people that are long-term thinkers, that keep a long-term horizon, that are strategic.”
“We are thrilled to have acquired a strategic GP stake in Scenius Capital and to be partnering with Ben, Greg and the broader team. Scenius has established itself as a leader in the crypto fund of funds space with deep industry expertise and a reputation for integrity,” ParaFi’s Ben Forman told Blockworks.
“We are excited to provide Scenius with growth capital to enable them to scale their existing business lines and expand into new areas, such as their token capital markets advisory practice. ParaFi believes Scenius is exceptionally well-positioned and we look forward to supporting the firm’s future success.”
Jacobs, in an interview tied to winning a Hedgweek award earlier this year, said that the fund views “bitcoin as a core and important position in the portfolio, and we are allocated to managers who own BTC beta, trade around BTC with various instruments, or denominate their funds in BTC.”
The two told Blockworks that Scenius is also backed by a number of crypto native LPs, though they declined to give specifics.
“A lot of people are declaring crypto venture is dead, or the returns are going to compress, but a lot of people still see a lot of value and opportunity, and they think our expression — by focusing on these smaller, first time or second time managers — is the best route to continue to allocate to crypto venture,” Jacobs said.
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