According to Fortune, Abu Dhabi’s sovereign wealth fund, Mubadala Capital, has announced a partnership with Coinbase and infrastructure provider KAIO to tokenize its perpetual private markets fund, issuing compliant on-chain tokens to qualified investors. Coinbase will utilize its Base blockchain as one of the underlying networks and will personally purchase the tokens, incorporating the Mubadala fund onto its balance sheet. This marks the first time a major U.S. publicly traded company has conducted native on-chain financial management using compliant tokenized assets. The offering has already attracted approximately $750 million in commitments from both traditional institutional investors and crypto-native allocators. With assets under management nearing $400 billion, Mubadala aims to lower the high barriers of entry in traditional private equity and expand its potential investor base through this tokenization initiative.
Coinbase Invests in Mubadala Capital's Tokenized Fund
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Summary
Coinbase has made a direct investment in a tokenized fund from Mubadala Capital, an Abu Dhabi sovereign wealth fund. The product, a perpetual private market vehicle, is being tokenized with KAIO and will issue compliant on-chain tokens to qualified investors. Built on the Base blockchain, the network upgrade supports the fund’s infrastructure. Coinbase has added the token to its balance sheet. The fund has raised approximately $75 million from traditional and crypto-native investors. Mubadala, which manages nearly $400 billion, aims to increase accessibility to private equity through tokenization.
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