Mubadala Capital Launches $75M Tokenized Private Markets Fund on Base, Solana, Sui

Abu Dhabi sovereign wealth fund’s asset manager enters onchain fund distribution with Coinbase backing

Mubadala Capital, the asset management arm of Abu Dhabi’s sovereign wealth fund, launched a tokenized version of one of its private markets investment strategies on July 23, making the fund available to qualified investors across Coinbase’s Base network, Solana, and Sui. The tokenized fund has already attracted $75 million in onchain assets.

Coinbase is taking exposure to the fund on its own balance sheet, though the investment size was not disclosed. KAIO, a UAE-based tokenization specialist, provides the infrastructure that issues and administers the tokenized fund.

Mubadala Capital administers over $430 billion in assets. Max Franzetti, head of Mubadala Capital Solutions, said the move extends the firm’s institutional approach to a new investor class. “This strategy was built on differentiated access — to deal flow, to co-investment, to a global network that most investors cannot reach on their own,” Franzetti said. “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, framed the shift toward programmable assets as foundational to onchain finance. “As regulated assets become programmable, they can become part of a broader onchain economy that is more transparent, composable and accessible to qualified investors in eligible jurisdictions,” Tejpaul said.

Tokenized funds gain institutional traction

BlackRock, Franklin Templeton, Apollo, Fidelity, Janus Henderson, and Invesco have all launched or expanded tokenized fund offerings, mostly focused on U.S. Treasuries, money market funds, and private credit. Tokenization is described as one of the fastest-growing corners of digital assets.

The KAIO platform currently administers $144 million in tokenized funds. Hamilton Lane, Brevan Howard, and Laser Digital are also using KAIO infrastructure.

Industry projections underscore the scale of the emerging market. Citi projects tokenized securities will reach $5.5 trillion by 2030. Boston Consulting Group and Ripple estimate tokenized assets across all asset classes could reach $18.9 trillion by 2033.

The UAE is positioning itself as a hub for tokenized finance, with Abu Dhabi and Dubai emerging as active jurisdictions for digital assets. Mubadala’s launch reflects the region’s broader push to attract institutional capital to blockchain-based infrastructure.