Mubadala Capital, the Abu Dhabi sovereign wealth fund, is bringing a private market strategy fund to the blockchain. According to KAIO, the fund has secured over $75 million in subscription commitments and plans to deploy it on Solana, Sui, and Base.
The first on-chain fund has been launched.
The product launched on-chain this time is the Mubadala Capital Alternative Solutions Fund, abbreviated as MCAS. KAIO is responsible for the tokenization and issuance of the fund. Reports indicate that this is Mubadala Capital's first foray into the on-chain asset field, signifying that large institutional funds in the Middle East are beginning to participate more directly in the RWA market.
Mubadala Capital manages approximately $385 billion in assets. The company stated that putting the funds on the blockchain allows it to maintain its institutional investment processes while opening them to a wider range of qualified investors.
Subscription commitments have reached US$75 million.
KAIO stated that the fund's subscribers include both traditional financial investors and crypto-native funds. The report also mentioned that Coinbase has included an undisclosed investment in the fund on its balance sheet, but the specific size was not disclosed.
According to KAIO, MCAS is its fifth tokenized fund. Previously, the platform had launched similar products from institutions such as BlackRock, Hamilton Lane, and Brevan Howard. At the time of writing, KAIO reported a total locked value exceeding $143 million, with MCAS accounting for a significant portion.
- Fund subscription commitment: Over US$75 million
- Deployment networks: Solana, Sui, Base
- KAIO reports its TVL: Over US$143 million
On-chain RWA expands to more regions
The report suggests that while tokenized assets have grown rapidly over the past year, the issuance has primarily focused on the US market. As more institutions bring non-US assets and cross-regional products onto the blockchain, RWA's geographical reach is expanding.
This trend is not an isolated event. On July 22, Kraken's parent company, Payward, and its RWA-issuing subsidiary, xStocks, announced plans to expand their tokenized stock offerings to markets including Hong Kong, South Korea, the UK, and Europe. As issuers increase the supply of non-US assets, the RWA ecosystem on Solana is also extending into broader global markets.
