Mubadala Capital, the asset management arm of Abu Dhabi's sovereign wealth fund, is launching a $75 million tokenized private markets fund. The fund will run on Solana, Base, and Sui blockchains through Kaio, a tokenization platform. It's a notable step for bringing traditional private equity into the crypto ecosystem.
Why this fund matters
Tokenized private markets have been a holy grail for crypto — giving retail and smaller institutions access to assets that were once the domain of big pension funds and endowments. Mubadala Capital's move signals that sovereign wealth money sees a real use case here. The fund draws both institutional and digital asset interest, according to the firm. That dual appeal could help bridge the gap between TradFi and DeFi.
The blockchain choices
Solana, Base, and Sui are the three chains hosting the fund. Each offers different trade-offs: Solana for high throughput, Base for Ethereum L2 compatibility, and Sui for its object-centric model. By spreading across three networks, Mubadala Capital isn't betting on a single chain — it's hedging its infrastructure bets. The fund's tokenization platform, Kaio, handles the cross-chain mechanics.
What Kaio brings
Kaio is the infrastructure layer that actually tokenizes the private market assets. It's not a new name in the space — the platform has been working on compliant tokenization for a while. For this fund, Kaio will manage issuance, secondary trading, and compliance across all three blockchains. That's a lot of moving parts, but the firm says the architecture is designed to meet regulatory standards while keeping costs low.
The fund is now open for investment. Mubadala Capital is targeting both institutional allocators and digital asset native investors. The $75 million figure is the initial raise — if demand is there, the fund could grow. No timeline for a close has been announced yet.
