Fasset

CEO Mohammad Raafi Hossain and COO Daniel Ahmed lead investment origination and structuring. Hossain's background includes serving as a UAE government innovation advisor and as a technology coordinator for the United Nations, while Ahmed brings operational experience from emerging-market fintech rollouts. The firm has not publicly disclosed a dedicated CIO or investment committee structure.

Fasset originates its own pipeline rather than tokenizing assets owned by third parties. The firm focuses on infrastructure projects in Southeast Asia and the Gulf — primarily renewable energy, healthcare, and metals processing — that fit Islamic finance compliance requirements. In 2023, it announced a $500 million pipeline including a bio-refinery in Indonesia and a UAE-based gold-backed token.

Fasset operates across both categories. It holds a digital asset exchange license in Indonesia and a custody license in Malaysia, providing fiat-to-crypto on-ramp services. However, its core business is originating and tokenizing real-world assets for fractional sale — functioning more like a primary issuance and distribution platform than a secondary trading venue.

All tokenized assets must avoid riba (interest), gharrar (excessive uncertainty), and investment in prohibited sectors. Fasset structures its offerings as asset-backed instruments, typically involving income-producing real assets like renewable energy facilities or commodity-backed tokens, rather than debt-based or speculative derivative structures.

Fasset is licensed as a digital asset exchange by Indonesia's Commodity Futures Trading Regulatory Agency (Bappebti) and holds a digital asset custody license from Malaysia's Labuan Financial Services Authority. The firm has also engaged with the Dubai Virtual Assets Regulatory Authority, though no UAE operating license has been publicly confirmed as finalized.

Fasset's public-facing model centers on direct origination and tokenization of specific assets for distribution to retail and high-net-worth investors. The firm has not publicly disclosed a fund-of-funds or external manager commitment program. Its partnership with Mastercard and early backing from Ripple suggest a venture investment component, but the core operating model is direct deal origination.

Fasset has not publicly disclosed a co-investment program alongside third-party GPs. Its model is built around proprietary origination and distribution, with institutional partners like Mastercard and Ripple involved as strategic collaborators rather than co-investors in the fund-of-funds sense. The tokenization platform itself enables fractional participation, which substitutes for traditional LP structures.