Merriman Capital, Inc., a subsidiary of Merriman Holdings, Inc. (OTCQB: MERR), announced that Digital Capital Network (DCN) acquired certain assets from SoHo Asset Management. DCN provides investors with corporate access and a transaction portal that meets targeted investment criteria across various industry verticals and structures. SoHo was described as having the nation’s fastest growing base of accredited investors who are looking for more differentiated fund managers.
“SoHo is pleased to join forces with DCN as one of the leaders in the evolving digital capital marketplace,” said Frank Troise of SoHo. “We have spent the last five years building trust with both investors and fund managers and we look forward to that scaling faster within the full service infrastructure of Merriman Capital and their technology driven DCN platform.”
SoHo has been associated with MyFinancialNetwork, an offshoot of Invested.In. Frank Troise was the founder of MNFA and was previously SVP and GM of Invested.in Alpha. Details of the purchase were not released.
“Acquiring SoHo’s community of 70,000 accredited investors and active client base of fund managers will allow DCN’s team to accelerate its market position with a robust community of investors, as well as growing our client base with fund managers looking to raise assets,” said William J. Febbo, CEO of DCN. “Frank and his team at SoHo have systematically built trust with their community of accredited investors by focusing on high quality fund managers. The combination of that effort with DCN’s platform and Merriman Capital’s broker dealer infrastructure allows to us to continue to build network of investors.”
“I have known Frank for over 10 years and I am very pleased to be working together as we build out DCN. He brings considerable knowledge and an extensive network to our vertical of helping fund managers raise assets under management,” commented Jon Merriman, CEO of Merriman Capital.
Merriman Capital is a full service investment bank and Broker-Dealer that facilitates efficient capital formation through a proprietary digital network, and offers Corporate Services Advisory and comprehensive Corporate Brokerage services for public and private companies.