Why Tokenization Will Kill the Traditional Fund Structure | Let's Talk Business with Hedi Mesme

<p>The 2-and-20 fund structure has run private capital for 74 years. It survived the dot-com crash, 2008, and COVID. But it will not survive tokenization.</p><p></p><p>In this episode of Let's Talk Business, Hedi Mesme — entrepreneur, brand builder, and founder of The Capital Table — breaks down why tokenization of real-world assets (RWA) is dismantling the traditional private equity and venture capital fund model. </p><p></p><p>What you'll learn in this episode:</p><p></p><p>•What tokenization of real-world assets actually means (not the hype — the real mechanics)</p><p>•Why the median private equity fund underperforms the S&amp;P 500 after fees — and how tokenization fixes this</p><p>•The 4 structural advantages of tokenized assets: liquidity, fractionalisation, transparency, and programmability</p><p>•The 3 models replacing the traditional fund structure in 2026: direct tokenized deals, tokenized club deals, and tokenized funds</p><p>•Why Dubai and the DIFC are the global epicentre of this transition</p><p>•What the next generation of family offices is actually doing with their capital</p><p>•How founders can use tokenization to access family office capital directly</p><p>•Live Q&amp;A with founders, investors, and family office principals</p><p>Key data points covered:</p><p>•Tokenized real-world assets: $34 billion in May 2026 (up from $5B in 2023) — growing at 90% per year</p><p>•70% of family offices now doing direct investing (Citi Global Family Office Report 2025)</p><p>•73% of next-gen family office members plan to change their family's investment approach</p><p>•Private debt financed 77% of global buyouts in 2024 — the highest share in 10 years</p><p>•1,289 family office entities registered in the DIFC — up from 800 twelve months ago</p><p>•Hamilton Lane, BlackRock, and Bastiat Partners have all launched tokenized vehicles in 2025–2026</p><p></p><p>Timestamps:</p><p></p><p>00:00 — The hook: 74 years of 2-and-20</p><p>02:30 — The structural problem with the traditional fund model</p><p>08:00 — What tokenization actually is (clear definition, no hype)</p><p>14:00 — The 3 models replacing the fund structure</p><p>21:00 — Why Dubai is the epicentre of this transition</p><p>25:00 — What this means for founders, investors, and family offices</p><p>28:30 — Live Q&amp;A</p><p></p><p>→ Apply as a Founder or Family Office Capital Table: <a rel="noopener noreferrer nofollow" href="https://capitaltable.limitless-capital.eu" target="_blank">https://capitalta