Mubadala, Adia continue activity abroad + Aster DM plants its flag east as Hospitality Net heads to Dubai

Mubadala backs Canadian challenger bank

Abu Dhabi sovereign wealth fund Mubadala co-led a CAD 130 mn Series E funding round in Canadian challenger bank Koho alongside Baltimore-based Savano Capital, with Koho valuing out at CAD 1.33 bn, according to a statement.

Koho — which serves 2.5 mn Canadians — is using the raise primarily to meet the capital base requirements for a federal banking license, a process it has been navigating with regulator OSFI since 2021.

IN CONTEXT- The investment marks another step in Mubadala’s build-out across Canadian financial services. The fund completed its CAD 4.7 bn take-private of CI Financial — one of Canada’s largest asset and wealth managers — in August 2025. Koho is a different wager: early-stage, retail-facing, and pre-license.

Adia was also active

The Abu Dhabi Investment Authority (Adia) was among the investors that backed a new fundraise for Digital Asset Holdings, the firm behind the Canton Network — a permissioned blockchain built to let financial institutions tokenize and settle traditional securities while keeping sensitive data private, Coin Telegraph reports. The round, led by a16z crypto, which contributed USD 100 mn, valued Digital Asset at around USD 2 bn and saw participation from Citadel Securities, Optiver, and 7RIDGE.

IN RELATED NEWS- An Adia investment vehicle sold40 mnshares in Lenskart — roughly 2.3% of the company’s outstanding equity — in a block transaction worth around USD 204 mn. Goldman Sachs, Morgan Stanley, and Kotak Mahindra Asset Management were among the buyers. Adia’s stake in the firm fell to 9.78% from 12.08% following the transaction, according to CNBC TV18.

Aster DM plants its flag in Saudi Arabia’s Eastern Province

UAE-headquartered Aster DM Healthcare acquired a majority stake in Saudi’s ProCareHospital through a joint venture with Saleh Al Rahji & Partners Co., marking its entry into the Eastern Province, according to a press release. The healthcare provider’s plans for the facility — which will be rebranded as Aster ProCare Hospital — include expanding capacity to 209 beds and setting up an AI-enabled cardiac catheterization lab.

REMEMBER- Aster DM’s on track with its plans: We reported back in 2024 that Aster was looking to acquire some USD 250 mn worth of healthcare assets to boost its Saudi portfolio. Since then, the healthcare giant has launched an Arabic-voiced digital healthcare app, myAster, and was reportedly eyeing a dual listing on Tadawul and in the UAE. In addition to its latest acquisition, Aster DM owns Aster Sanad Hospital in Riyadh and 16 pharmacies in the Kingdom.

Hospitality Net heads to Dubai

Dubai-based strategic advisory and investment firm In2 Consulting is buying into hospitality media. The firm has acquired a 50% stake in Hospitality Net, one of the hospitality industry’s largest B2B media platforms, which reaches more than 500k monthly users across 200 countries, according to a press release. Financial terms were not disclosed.

What’s the game plan? The agreement is intended to accelerate Hospitality Net’s growth and AI ambitions. The platform will continue to be led by founder and CEO Henri Roelings (LinkedIn) as it establishes a new headquarters in Dubai. Following a recent AI-focused platform overhaul, Hospitality Net plans to launch Hospitality Net Labs later this year as it expands beyond its traditional media and content business.