PANews reported on August 7th that, according to Blockworks, Scenius Capital announced the completion of a slightly oversubscribed $20 million new fund focused on investing in emerging crypto venture capital funds. The company stated that the fund will support early-stage managers with advantages in their respective sectors, regions, or ecosystems. ParaFi has made a strategic investment in Scenius Capital and will provide financial support for the expansion of its business lines and token capital markets advisory services. Scenius Capital stated that despite the challenging market environment, it has received support from multiple crypto-native LPs and will continue to focus on smaller, first- or second-round managers.