Mubadala Capital tokenizes $75M fund, Coinbase takes stake

Abu Dhabi's sovereign wealth-backed asset manager, Mubadala Capital, has launched a tokenized version of one of its private market funds, attracting approximately $75 million in onchain commitments and securing a direct investment from cryptocurrency exchange Coinbase. The launch, which became public on July 23, 2026, marks a significant step by a major sovereign-linked investor into the growing field of tokenized finance.

The product is a tokenized version of the Mubadala Capital Alternative Solutions Fund, an evergreen strategy with exposure to private equity, direct investments, and credit. It was made available to qualified institutional and accredited investors through a partnership with UAE-based infrastructure provider KAIO, which handles the regulated issuance, administration, and distribution. The tokenized fund shares are accessible across three blockchain networks: Coinbase's Base, Solana, and Sui.

A notable aspect of the launch is Coinbase's decision to take an undisclosed direct stake in the tokenized offering, adding the exposure to its corporate balance sheet. Company officials described this as an early example of a publicly traded crypto firm investing its own...