Mubadala Capital tokenizes fund; Coinbase invests
Mubadala Capital tokenized its Alternative Solutions Fund on multiple public blockchains; Coinbase took a balance-sheet stake as the fund held about $75 million onchain on July 23, 2026.
Abu Dhabi investment firm Mubadala Capital has tokenized its Alternative Solutions Fund across several public blockchains. Coinbase has taken a direct balance-sheet stake in the fund, which held about $75 million in onchain assets on July 23, 2026. The size of Coinbase’s investment was not disclosed.
The fund is an evergreen strategy focused on private equity, direct investments and credit. It is offered to qualified institutional and accredited investors with minimum investments around $100,000. The tokenized fund runs on Coinbase’s Base network, Solana and Sui, with related share classes on Ethereum, Avalanche, Polygon and Sei.
UAE-based infrastructure provider KAIO is handling token issuance and administration for the offering. KAIO’s platform supports roughly $144 million in tokenized funds. In April 2026, Tether led an $8 million funding round for KAIO as the firm prepared to expand into tokenized credit, structured products and ETFs and to route USDT liquidity into regulated products.
Mubadala Capital and KAIO announced their partnership in December 2025. The fund went live in late June 2026. The multi-chain rollout and Coinbase’s balance-sheet position became public on July 23, 2026, when onchain balances were reported at about $75 million.
Brett Tejpaul, head of Coinbase Institutional, described the rationale: “Regulated assets that become programmable can join a broader onchain economy, one that’s more transparent, composable, and accessible to qualified investors in eligible jurisdictions.” Max Franzetti, co-head of Mubadala Capital Solutions, highlighted governance and regulatory alignment during the fund buildout. KAIO chief executive Shrey Rastogi described the project as a way for institutional capital to scale onchain while maintaining compliance and investor protections.
Mubadala Investment Company manages, advises or administers about $430 billion in assets. Other asset managers have introduced tokenized treasuries, money market funds or private credit products. Citi has estimated tokenized securities could reach roughly $5.5 trillion by 2030.
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