From Racehorses To Real Estate, Here's How Tokinvest's Scott Thiel Is Opening Up Asset Ownership In Dubai

Dubai’s push to build a regulated market for digital assets has found one of its most unlikely proof points in a racehorse. In September 2025, Tokinvest, a startup based in the city, sold out its first tokenized racehorse, raised US$3.2 million, and earned the first full multi-asset license from the emirate’s Virtual Assets Regulatory Authority (VARA)—three milestones that signal how quickly regulated tokenization is taking shape in the city.

Founded by Scott Thiel and Matthew Blom in the UAE in 2024, Tokinvest sits at the intersection of finance, regulation, and technology. From its base in Dubai, the company is building a regulated marketplace that connects issuers of real-world assets (RWAs) with investors worldwide, turning everything from property to racehorses into fractional digital tokens that anyone can invest in.

In an interview with Inc. Arabia, Thiel, who is also the CEO of Tokinvest, explained that the company’s early success is inseparable from Dubai’s role as a regulatory pioneer. “Dubai combines purpose-built regulation (VARA as a standalone authority), a unified framework (no fragmented ‘security vs. utility vs. commodity’ silos), and retail inclusion (licensed access beyond million-dollar accredited investors),” he said. “Crucially, this sits within a government-wide push, where pilots such as those at the Dubai Land Department show registries and financial rails moving on-chain together.”

Having worked with regulators worldwide, Thiel believes that Dubai and the UAE stand alone in having turned tokenization from concept to operation. “From my experience working with regulators around the world, Dubai is the one place where tokenization can actually be done today,” he said. “Here, the conversation has moved from ‘possible’ to ‘operational,’ and I believe the UAE is now positioned to play the same role for tokenized issuances and cross-border asset formation that initial public offering centers once played in traditional markets. As more asset owners, platforms, and investors consolidate around its regulated infrastructure, Dubai’s role will only deepen.”

It is against this backdrop that Tokinvest is translating Dubai’s regulatory clarity into a practical model for everyday investors. “Our mission is simple and ambitious: make investing in real-world assets as easy as buying a product on Amazon,” Thiel said. “That means issuing and distributing regulated, fractional exposure to high-quality assets—bringing institutional-grade disclosure, security, and compliance to markets that were historically gated or illiquid. Ultimately, we want the everyday investor to own what the one percent owns.”

Tokinvest’s first project—a tokenized racehorse launched in April 2025—offered an early glimpse into what the company’s model can do. Partnering with New Zealand-based Evolution Stables, Tokinvest created digital tokens representing fractional ownership in a racehorse that were issued on Polygon, a blockchain that already secures more than $1.1 billion in real-world asset value locked. (“Racehorses were chosen because they’re a compelling proof-point for regulated tokenization: passion-led, yield-linked economics, historically hard to access, and perfect for fractionalization,” Thiel added.) With every token sold out within a month, it served as proof that Tokinvest’s model could extend far beyond a single asset class, beginning with one that uniquely combines passion, performance, and exclusivity.

“Investing in racehorses has traditionally been the preserve of the super wealthy and elite,” Thiel explained. “Tokinvest has developed a new way to invest in racehorses that massively brings down the cost and ease. Basically, you buy a fraction of a racehorse and are given a token that represents a share of it. It’s all about giving people access to the economic performance of the horse without needing to own it outright.” But beyond the quick sell-out, the project also underscored something deeper about Dubai’s positioning in the global investment landscape. “Demand exists when access barriers and compliance frictions are removed,” Thiel pointed out. “Dubai can export a regulated product globally—the first asset is based in New Zealand and attracted investors from three countries, yet was issued from Dubai under VARA. That validates both product-market fit and Dubai’s role as a capital-formation hub.”

That same vision—bridging access, regulation, and trust—has also shaped Tokinvest’s $3.2 million pre-seed round. The raise brought together venture capital firms, family offices, and high-net-worth investors, including Triliv Holdings, the UAE-based family office focused on global wealth management and strategic investments, and Exponential Science, a foundation-led organization advancing research and innovation in emerging technologies. According to Thiel, the fresh funds give Tokinvest room to grow—strengthening its platform, extending its regulatory reach, and introducing new asset categories. “Beyond capital, our backers bring strategic value in several ways— from go-to-market access and company-building expertise to distribution and partnerships,” he added. “The blend of expertise complements and extends the Tokinvest team as we continue to scale.”

Aside from scaling, though, Tokinvest also has its eye on diversifying its offerings, and after proving the model in sports, the company is now turning to property, with Thiel saying, “The principles that have been established around the tokenization of racehorses can be translated to the property sector, and break down the barriers to owning property here in the UAE and around the world.” Tokinvest thus plans to launch tokenized real estate assets soon, with early adopters invited to join a “Golden Hour” waitlist for early entry and priority allocations, pending regulatory approval.

In terms of advice for other founders navigating the digital assets space, Thiel urges them to remember that in the current landscape, regulatory readiness comes first. “Given my own fundraising and go-to-market experience, my advice to founders in the RWA space is straightforward: get licensed first,” he said. “This is a regulated business, and you cannot operate without the necessary licenses and compliance framework in place. There are no shortcuts here—regulatory approval is the prerequisite, not an afterthought.”

But after that base is established, Thiel said, execution is everything. “Once you’re properly licensed and compliant, focus on shipping real products that deliver tangible value,” he noted. “Adoption comes from attractive yield and expectation of capital growth. Education certainly plays a role, but in practice, outcomes always beat explainers. When people see tangible results, confidence grows far faster than through theory alone. Compliance isn’t red tape; it’s the foundation that allows you to build trust and scale sustainably.”

Thiel also emphasized that the long-term success of tokenization will depend on broad inclusion. “It’s also important to build for retail as well as institutions,” Thiel noted. “Where permitted, as is the case in Dubai, democratize access with clear user experiences, transparent rights, and defined liquidity pathways. Opening up access beyond the wealthy few is what will ultimately transform this market.”

Finally, Thiel underscored the importance of solid infrastructure choices. “At the infrastructure level, choose rails that scale,” he said. “Work with chains and partners that already have proven track records in RWAs—Polygon, for example, underpinned Tokinvest’s debut racehorse issuance—so that you’re not reinventing the wheel, or adding unnecessary risk.”

Pictured in the lead image is Tokinvest co-founder and CEO, Scott Thiel. Image courtesy Tokinvest.

This article first appeared in the November 2025 issue of Inc. Arabia. To read the full issue online, click here.