Kaio co-founder and CEO Shrey Rastogi said the tokenization protocol has launched a fund with Mubadala Capital, the alternatives arm of Abu Dhabi’s sovereign wealth fund, and moved about $75 million onchain across Base, Solana, and Sui. Speaking on an episode of Unchained Premium with Laura, Rastogi said Coinbase is holding part of its treasury in the fund and described how Kaio embeds jurisdictional restrictions and know-your-customer checks directly into its smart contract system. He also argued that tokenized real-world assets remain in the early stages, putting the market at roughly $26 billion today versus a potential $12 trillion to $16 trillion in traditional assets. The discussion also covered Rastogi’s entry into crypto after paying a costly remittance fee in 2016, his later work building tokenized fund infrastructure at Brevan Howard, and his view that open public blockchains will outperform private networks. According to the episode description, Rastogi expects capital markets to be extensively rewired over the next couple of years.

KAIO said Wednesday that it has launched tokenized access to one of Mubadala Capital’s evergreen private-market strategies across Base, Solana and Sui, with about $75 million in onchain value from traditional and digital-asset investors, according to the firm’s post on X. KAIO also said Coinbase will add exposure to the tokenized offering, though it did not disclose the size of that position. The launch was described differently across official channels: KAIO referred to roughly $75 million in onchain TVL, while Solana’s official account called it $75 million in commitments and focused on Solana alone. Sui’s official account added figures including a $385 billion sovereign wealth fund, $3.7 billion NAV and 650+ underlying companies, but those numbers and the claim that this is the first onchain tokenization of the strategy were not independently confirmed in the material reviewed. Mubadala Capital had not been reached through its own channel in this dossier, and no token contract addresses were published in the posts reviewed.

Abu Dhabi sovereign wealth fund Mubadala Capital has partnered with Coinbase and infrastructure provider KAIO to tokenize its evergreen private markets fund, according to Fortune. The product will issue compliant on-chain tokens to qualified investors. Coinbase said Base will serve as one of the underlying blockchain networks for the offering, and the exchange will also buy the token itself and place the Mubadala fund on its balance sheet. Fortune described the move as the first time a major publicly listed U.S. company has used a compliant tokenized asset for native on-chain treasury management. The product has already drawn about $75 million, with investors spanning traditional institutions and crypto-native allocators. Mubadala manages nearly $400 billion in assets, and the tokenization effort is aimed at lowering the barriers associated with traditional private equity and widening the pool of potential investors.

KAIO, a real-world asset tokenization protocol incubated by Nomura's Laser Digital, has launched its governance token with a 10 billion supply, backed by Tether and others. It manages $100M TVL and partners with BlackRock, aiming at the $30 trillion RWA market.

DDN topped this week’s U.S. funding rounds with a $300 million strategic investment, while healthcare and biotech startups filled most of the top 10. The list highlights continued investor focus on AI infrastructure, medical innovation, and defensible long-term growth sectors.

Top 10 US startup funding rounds totaled over $2B this week. Data storage firm DDN received $300M from Blackstone, while biotech and healthcare companies occupied six spots. AI-related firms remain strong.