Mubadala Capital tokenizes private fund, raises $75M with Coinbase
What's the deal? Mubadala Capital, the asset management arm of Abu Dhabi's $385 billion sovereign wealth fund, has launched a tokenized private market fund across the Base, Solana, and Sui blockchains. It has raised $75 million in commitments from investors, including cryptocurrency exchange Coinbase, with Abu Dhabi-based fintech Kaio providing the tokenization infrastructure.
What's the endgame? The tokenized structure aims to open an investment strategy once reserved for large institutions to a wider pool of qualified investors worldwide. Representing fund interests as digital tokens is intended to cut administrative costs, speed up transactions, and improve liquidity through blockchain-based secondary markets.
Why now? Interest in tokenized real-world assets has accelerated, with the market passing $30 billion in early 2026. Mubadala's total assets rose 17% to $385 billion during 2025, and Mubadala Capital manages and administers more than $600 billion across private equity, venture capital, credit, and co-investment strategies.
Private market investments — private equity, private credit, and other non-listed assets — have long been limited to sovereign wealth funds, pension funds, and endowments by high minimums, heavy documentation, and restricted distribution.
What's notable? Coinbase has added the tokenized Mubadala strategy to its corporate balance sheet, a rare case of a publicly traded US company holding a sovereign-backed private market investment as a treasury asset.
Max Franzetti, head of Mubadala Capital Solutions, said the firm's strategy had historically relied on privileged access to opportunities and co-investments. Placing it on blockchain infrastructure would let a broader group of qualified investors reach those opportunities while keeping the firm's institutional standards, he said.
Brett Tejpaul, co-chief executive of Coinbase Institutional, said the move reflected "the growing maturity of regulated real-world asset markets" and rising institutional confidence in blockchain-based products.
The signal: The launch is significant because it involves one of the world's largest sovereign-backed investors rather than an emerging blockchain firm — a sign that tokenization is moving from crypto-native experiments toward the core of institutional finance.
Read more: CoinTrust
Image credit: rhomus74
