The founding father of Argentex Group, the overseas alternate group which collapsed this yr amid market turmoil triggered by US President Donald Trump’s tariffs regime, has secured backing from Australia’s strongest monetary group for his newest enterprise.
Sky Information has learnt that Macquarie’s Commodities and World Markets group has taken a minority stake in Tenora, an FX know-how platform.
Tenora was established earlier this yr by Harry Adams, who left Argentex within the autumn of 2023.
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Its collapse in the course of the summer season got here as its administration crew tried to safe emergency funding by means of a sale that was finally stymied by regulatory delays.
Macquarie’s funding in Tenora, which values the start-up at £15m, permits the Australian monetary large to nominate two administrators to its board.
Tenora has been set as much as provide enterprise purchasers instruments to handle their FX threat – which is particularly useful in periods of maximum market volatility.
A variety of the corporate’s staff and a bunch of particular person buyers additionally participated within the funding spherical, in response to Tenora.
“To draw the backing of a significant monetary establishment at this early stage is a powerful endorsement of each the market want for our differentiated answer,” Mr Adams mentioned.
Primarily based in London, Tenora’s preliminary merchandise embrace Truhedge, which it says will permit purchasers to make sooner, data-driven choices.
Arturo Alonso, senior managing director at Macquarie, mentioned Tenora supplied “a disruptive answer for the FX and funds business”.
