Dover Street XII is targeting $20 billion in capital commitments, with a final close expected in December 2027.
Having already exceeded its previously stated offering amount, the fund is approximately 68% larger than its predecessor.
The deal aims to broaden Mubadala's investor base and strategies, with incoming shareholders expected to commit $5 billion across its investments.
Eligible shareholders can borrow up to 65% of NAV on positions of at least $1 million while continuing to seek fund repurchases.
The African payments infrastructure provider will enable staff to borrow against their private shares without having to sell them or relinquish potential future upside.
The AI-powered coding platform raised $400 million in March at a $9 billion valuation, nearly three times its level six months earlier.
