Mubadala Capital, managing assets worth about $430 billion, has transitioned one of its private market strategies onto public blockchain platforms as of July 2026. The fund involved, called the Alternative Solutions Fund, has tokenized $75 million, allowing access via networks like Coinbase’s Base, Solana, and Sui.
This fund focuses on private equity, direct investments, and credit exposure, aiming for steady cash returns with lower volatility. Despite moving to blockchain, investment remains restricted to qualified institutional and accredited investors, with a minimum entry of roughly $100,000. Tokenized share classes also exist on Ethereum, Avalanche, Polygon, and Sei.
UAE-based infrastructure provider KAIO handles the fund’s issuance and administration. KAIO’s platform now oversees about $144 million in tokenized funds, building on projects with firms like Hamilton Lane and Blackrock.
Coinbase has made a notable move by investing directly from its balance sheet into the Mubadala fund, marking a rare case of a public crypto exchange backing a tokenized private market product rather than just facilitating distribution. Brett Tejpaul, head of Coinbase Institutional, highlighted that transforming regulated assets into programmable tokens can integrate them into a more transparent and composable onchain economy, accessible to eligible investors.
The collaboration began in late 2025 as an exploration of tokenized access for qualified investors, emphasizing regulatory compliance and governance. Mubadala’s co-head, Max Franzetti, and KAIO’s CEO, Shrey Rastogi, have both stressed the institutional-grade nature of the platform, aiming for scalable capital deployment.
