Scenius Capital is a crypto-focused investment firm specializing in backing emerging venture capital managers within the digital asset ecosystem. Founded by Ben Jacobs and Greg d’Incelli, the firm has positioned itself as a leader in the crypto fund-of-funds space, with a mission to identify and invest in small, early-stage VC funds led by managers who demonstrate a clear domain, geographic, or ecosystem edge.
The firm invests exclusively in emerging crypto venture capital managers, often supporting them at the earliest stages of their fund lifecycle. Scenius Capital targets managers who have differentiated expertise and the potential to generate outsized returns in digital assets, blockchain technology, DeFi, and token-based ecosystems.
In August 2025, Scenius Capital closed a slightly oversubscribed $20 million fund dedicated to investing in emerging crypto VC funds. The vehicle is designed to give LPs targeted exposure to high-potential, smaller-scale fund managers in the crypto space.
The raise comes despite a challenging fundraising environment, underscoring market recognition of Scenius’s high-integrity and high-quality approach.
Together with the fund close, ParaFi Capital took a strategic GP stake in Scenius, providing growth capital to expand existing operations and develop a token capital markets advisory practice. The firm is also backed by a number of crypto-native limited partners.
Leadership
Scenius Capital is led by co-founders and managing partners Ben Jacobs and Greg d’Incelli. Both bring extensive experience in the digital asset sector and maintain strong networks across the crypto investment community.
Their leadership combines strategic capital allocation with a long-term view of the asset class.
Investment Strategy
The firm’s strategy centers on identifying and backing first-time or second-time fund managers who have proven expertise in specific crypto niches. Scenius Capital believes this approach offers the best route to sustained returns in the evolving digital asset ecosystem.
The firm also views bitcoin as a core and important portfolio position, allocating to managers who hold BTC beta, actively trade BTC, or denominate their funds in BTC.
Notable Investments
As a fund of funds, Scenius Capital’s investments are in crypto venture capital managers rather than direct startup equity. These indirect investments provide exposure to a wide range of early-stage crypto companies through its network of partner funds.
Notable Exits
Given its focus on emerging managers and relatively recent formation, Scenius Capital has not yet recorded notable liquidity events.
Other
The firm is committed to building long-term partnerships with strategically aligned investors and managers, with ParaFi’s backing reinforcing its institutional credibility and growth ambitions.
