With a significant amount of uncertainty in the macro economic environment and the weakening of the dollar, it is unclear as to the currencies that will be winners or losers over the next decade and beyond. An IML fund based on the IMF SDR basket of currencies may be able to balance currency risk if a suitable lending mechanism can be found. https://www.imf.org/en/About/Factsheets/Sheets/2016/08/01/14/51/Special-Drawing-Right-SDR
A Web3 Infrastructure Fund
Create a fund of underlying blockchain Infrastructure assets that other protocols are almost completely dependent on e.g. Graph Protocol (GRT), Filecoin (FIL), Chainlink (LINK), Arweave (AR) and any others that are relevant. This would suit long term investment as it is a fundamentally important part of the crypto ecosystem and will likely grow more slowly but without as much volatility.
New IHF/Hyperion fund
Hyperion is great but users might want to spread there investments instead of putting more in IHF. Therefore a second IHF would be of interest which invests in a new set of companies. Since all tokens for IHF have already been sold no new liquidity is added to the Invictus funds. A second IHF would attract new investors and give an additional injection of funds into IC.
A DeFi Fund
A fund that focuses purely on DeFi investing. Investment team does DD on projects which can be submitted to a governance portal for voting and investment approval.
Defi index fund
Essentially a C10/C20 equivalent but only holds Defi coins - this will provide investors with an opportunity to make a general bet on the Defi space without having to "pick" the right project to succeed