TORONTO, June 4, 2012 /CNW/ - Difference Capital Funding Inc. (TSXV: DCF) today named Michael Wekerle as chief executive, marking another key step in its emergence as a technology-oriented merchant bank.
Mr. Wekerle has extensive investment banking experience. He is co-founder of Difference Capital Inc. which created Difference Capital Funding last month through the purchase of a 49.9 per cent stake in TriNorth Capital Inc. TriNorth's name has subsequently been changed to Difference Capital Funding. Prior to setting up Difference Capital in 2011, Mr. Wekerle was vice-chairman of institutional trading at GMP Securities.
Mr. Wekerle said: "We are steadily building Difference Capital Funding into a well-capitalized and strongly managed merchant bank. We look forward to making further announcements as we move forward in the coming weeks."
Difference Capital Funding secured $21.5 million in funding last week through the initial tranche of a non-brokered private placement. It expects to finalize a secondary financing prior to June 8.
Separately, John Albright has been appointed a director of Difference Capital Funding. Mr. Albright is co-founder and managing partner of Relay Ventures, an early-stage venture fund focussed on mobile software. He is also a director of several technology companies, and of the Canadian Venture Capital and Private Equity Association (CVCA).
About Difference Capital Funding Inc.
Difference Capital Funding, formerly TriNorth Capital Inc., is an emerging Toronto-based merchant bank focused on technology-oriented investments.
For further information:
Kingsdale Communications Inc.