Makor Capital Raises $17M in Series A Funding to Grow Brokerage Platform Enigma

Makor Capital, a brokerage and investment banking group, raised $17 million in Series A funding to grow Enigma Securities, its digital asset brokerage.

• The round valued London-based Makor at $200 million and was joined by blockchain company Algorand and billionaire hedge fund manager Alan Howard.
• Algorand CEO Steven Kokinos will join the company’s board of directors.
• Makor’s digital asset brokerage, Enigma Securities, has a monthly trading volume of $2 billion, according to an announcement Wednesday.
• Alan Howard has made numerous investments in crypto firms in recent months, following the news in April that Brevan Howard, the hedge fund he co-founded, was allocating 1.5% of its main $5.6 billion fund directly to cryptocurrency.
• Howard led a $25 million extension of crypto custodian Copper’s Series B funding round in June and also participated in derivatives exchange FTX’s mammoth $900 million Series B round in July.

Read more: Algorand Foundation Launches $300M DeFi Innovation Fund