Scenius Capital Secures $20M Fund for Emerging Crypto VCs
Scenius Capital has closed a slightly oversubscribed $20 million fund to invest in emerging crypto venture capital funds.
The fund will back small seed and Series A managers with sector, regional or thematic advantages, strengthening the emerging crypto venture capital funds ecosystem.
The firm emphasises bitcoin allocations, investing in managers that hold BTC beta, trade around BTC or denominate funds in BTC.
Strategic backer ParaFi has acquired a GP stake in Scenius Capital to fund the expansion of its business lines and token capital markets advisory services.
With support from crypto-native limited partners, Scenius aims to leverage evolving regulation to drive ecosystem development and boost innovation in early-stage blockchain projects.
Bullish
The closure of an oversubscribed $20M fund with a focus on bitcoin allocations highlights growing institutional demand for BTC exposure. This is likely to support bitcoin prices in the near term as managers deploy capital, and improve market stability and confidence over the long run through reinforced adoption and regulatory clarity.