Mubadala Capital tokenizes evergreen private market product on KAIO
KAIO, the UAE regulated DLT open infrastructure layer for tokenized real-world assets based out of ADGM, and Mubadala Capital, a global alternative asset management platform and subsidiary of Mubadala Investment Company, linked to sovereign wealth fund Mubadala Holding, have launched tokenized access to one of Mubadala Capital’s evergreen private market strategies for qualified institutional and accredited investors in certain jurisdictions. This tokenized product, available across Base, Solana and Sui, received approximately $75 million in onchain TVL( Total Value Locked), from traditional and digital asset investors, and CoinBase will be adding exposure to the tokenized offering.
As per the press release, this represents a milestone in how SWF-backed private markets strategies can be made accessible through regulated digital infrastructure.
In December 2025, Mubadala Capital, announced their intention to explore offering tokenized access to its private market investment strategies using KAIO, blockchain protocol. KAIO already has tokenized over $200 million in assets from the funds of global institutions including BlackRock, Brevan Howard, Hamilton Lane, and Laser Digital offered through its regulated fund manager.
According to Max Franzetti, Head of Mubadala Capital Solutions, their strategy was built on differentiated access to deal flow and co investment and a global network that most investors cannot reach on their own. He added, “Bringing it onchain extends that access to a new class of qualified investors without compromising the institutional discipline that defines how we invest.” he added.
Shrey Rastogi, CEO of KAIO, noted that this demonstrated the compliant onchain infrastructure that KAIO provides and with Mubadala Capital now joining a roster of blue chip asset managers who are adopting KAIO’s open infrastructure to tokenize and distributed institutional grade investment products.
KAIO provides the infrastructure that issues and administers Mubadala Capital’s tokenized fund. Mubadala Capital joins Brevan Howard, Hamilton Lane, and Laser Digital.
As for CoinBase, Brett Tejpaul, Head of Coinbase Institutional notes that the significance of this launch is not only that a major private markets strategy is moving onchain, but that it is being adopted for real institutional balance sheet use.
He adds, “Bringing exposure to a tokenized Mubadala Capital strategy onto Coinbase’s balance sheet reflects the growing maturity of regulated real-world assets and their potential role in modern corporate treasury management. This launch demonstrates what is possible when leading asset managers, infrastructure providers and blockchain ecosystems come together to bring institutional-grade assets onchain. 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.”
“The tokenization of Mubadala Capital’s evergreen private markets strategy, powered by KAIO, is a significant milestone for the maturation of onchain capital markets,” said Adeniyi Abiodun, Co-Founder and CPO at Mysten Labs, the original contributor to Sui. “
