Sovereign Fund Pioneers Multichain Tokenization for Private Markets

Mubadala Capital, the asset management arm of Abu Dhabi's Mubadala Investment Company, has launched tokenized access to one of its private market strategies. The product is live across three blockchains: Base, Solana, and Sui Network, with around $75 million in on-chain value locked from both traditional and digital-asset investors.

The strategy is an evergreen fund structure that stays open rather than winding down after a fixed term. It's restricted to qualified institutional and accredited investors, keeping the product within familiar regulatory guardrails while the underlying mechanics run on public blockchains.

Kaio, which has already tokenized more than $200 million in assets across funds managed by BlackRock, Brevan Howard, and Hamilton Lane, partnered with Mubadala to explore tokenized access to private market strategies. The launch is a result of this partnership announced in December 2025.

The move marks a significant step for tokenization, as it spreads beyond government bonds and money market funds into private equity. Building the same product across three separate blockchains at once shows how far the infrastructure for tokenized private markets has come.