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INVESTING / PAGE 31

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RWA5 MIN READNews analysis

Private Equity OnChain: Tessera’s Positioning in the RWA Stack

Private equity is one of the largest asset classes in global finance, and one of the least accessible in practice. Industry estimates place global private equity AUM at roughly $8.5–$9T by mid-2025. By comparison, the entire on-chain real-world asset (RWA) universe is still under $25B, with RWA protocols at roughly $17B in DeFi TVL.

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