Mubadala Capital has launched a tokenized private market fund in partnership with KAIO, attracting $75 million in assets and gaining Coinbase's investment.
Mubadala Capital, the Abu Dhabi-based asset management firm, has successfully launched a tokenized version of one of its private market funds, a move that underscores the growing trend of tokenization in finance.
Partnership with KAIO to Expand Tokenization Efforts
The firm has collaborated with KAIO, a UAE tokenization specialist, to transition its private market strategy to blockchain technology, making the fund accessible through Coinbase’s Base network, as well as on Solana and Sui.
This new fund has already attracted around $75 million in onchain assets, with Coinbase also investing in the fund, marking a significant development as it is one of the first instances of a publicly traded cryptocurrency company holding a position in a tokenized private market product.
Mubadala Capital, which manages approximately $430 billion in assets, is joining a growing list of major investment firms, including BlackRock and Fidelity, that are integrating tokenized funds into their offerings. This trend is driven by predictions that tokenized securities could reach trillions in value, positioning the UAE as a key player in the tokenized finance landscape.
Max Franzetti, head of Mubadala Capital Solutions, emphasized that this strategy enhances access for a wider array of qualified investors while maintaining the institutional discipline of their investment approach. He stated, “Bringing it onchain extends that access to a new class of qualified investors without compromising the institutional discipline that defines how we invest.”
Brett Tejpaul, head of Coinbase Institutional, noted that this investment highlights the rising interest in regulated tokenized assets, which could lead to a more transparent and accessible onchain economy. The UAE is increasingly becoming a hub for tokenized finance, with both Abu Dhabi and Dubai developing supportive regulatory frameworks for digital assets.
