TORONTO, ONTARIO–(Marketwired – Nov. 5, 2013) – Difference Capital Financial Inc. (“DCF”) (TSX:DCF), a leading specialty financial services company, is pleased to announce its investment in Vena Solutions (“Vena”), a leading SaaS-based provider of performance management solutions.
DCF has invested $3 million in Vena in the form of unsecured convertible debentures.
“We are impressed with Vena’s experienced executive team, leading edge solution and world class clients”, said Tom Liston, Managing Partner at DCF. “We are confident in Vena’s ability to deliver on its compelling value proposition, which resonates with both clients and industry analysts.”
Vena’s web-based solution automates virtually any Microsoft Excel-based process by leveraging a centralized database. Vena’s solution eliminates the shortcomings traditionally associated with spreadsheets, such as issues with data integrity, version control, process-tracking and information security.
Don Mal, Chief Executive Officer of Vena, affirmed: “This investment is a strong endorsement of our business model and outlook, as it provides support for our robust growth and new customer wins.” He added that, “Vena looks forward to leveraging Difference Capital’s substantial capital markets expertise and broad reach in the technology community.”
Vena was recently named 2013′s “Best New Vendor” by BPM Partners. The company is also a finalist in two categories of PwC’s “Vision to Reality” awards, which will be held on November 7, 2013.
About Difference Capital Financial Inc.
Difference Capital Financial Inc. is a publicly-listed, Toronto-based specialty finance company focused on creating shareholder value through strategic investments in, and advisory services for, growth companies, particularly in the technology, media and healthcare sectors, as well as through opportunistic investments in undervalued financial assets and real property.
About Vena Solutions
Vena Solutions delivers the most flexible performance management solution available for budgeting, forecasting, planning, reporting, analytics, and other mission-critical finance and accounting processes to large and mid-market companies around the world. Vena’s unified web-based software platform embraces all the power and flexibility of Microsoft Excel yet provides powerful workflow management, control and reporting capabilities. This unique approach is complemented by a dedicated consulting, advisory and training team. The result is fast time to benefit for our clients such as Canpar, Home Trust, MCAN, AES Power Corporation and BNP Paribas.
This release includes forward-looking statements regarding DCF and its business. Such statements are based on the current expectations and views of future events of DCF’s management. In some cases the forward-looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties beyond the control of DCF. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and DCF undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Difference Capital Financial Inc.
Chief Executive Officer
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