Mubadala Capital has secured nearly $75 million in commitments for its tokenized private market fund, distributed across Solana, Base, and Sui blockchains. This new private equity strategy is accessible exclusively to qualified investors through the UAE-based service provider KAIO, which oversees the regulatory framework, issuance, and multi-chain administration.
Tokenized Private Markets Gain Traction
The Mubadala Capital Alternative Solutions Fund is an evergreen investment vehicle combining private equity, direct investments, and credit market exposure. By going onchain, Mubadala aims to open private markets to a broader pool of institutional and accredited investors while preserving governance and regulatory controls. The partnership with KAIO, officially launched in late 2025, bridges traditional asset management with blockchain technology by enabling regulated digital access to these alternatives.
KAIO’s platform manages the token issuance and distribution across the three blockchain networks, ensuring compliance and investor qualification. With Mubadala managing over $600 billion through its affiliated entities, the tokenized fund represents a significant move towards integrating sophisticated private market products with decentralized finance infrastructure.
Coinbase Moves Beyond Infrastructure
In a notable shift, Coinbase has taken an undisclosed stake in the tokenized fund, placing this exposure directly on its balance sheet. This marks Coinbase’s transition from solely providing blockchain infrastructure like the Base settlement layer to becoming an active investor in regulated onchain assets. Brett Tejpaul, head of Coinbase Institutional, emphasized that this investment aligns with the growing interest in tokenized private markets and extends the platform's economic exposure to sovereign-backed alternative asset strategies.
With no details revealed on the size or accounting of Coinbase’s position, this move signals a broader trend where traditional financial firms embrace tokenized asset classes. Access to the fund remains restricted to qualified investors, maintaining the stringent oversight typical for private market vehicles.
