Ether Capital Corp., co-launched six months ago by pension giant OMERS and ETF pioneer Som Seif, has announced a major leadership overhaul.
The cryptocurrency firm on Monday appointed Brian Mosoff as CEO and Stefan Coolican as president and chief financial officer, effective immediately.
Both Mr. Mosoff and Mr. Coolican will also join Ether Capital’s Board of Directors.
Mr. Mosoff replaces Michael Conn, who concurrently resigned from his position as CEO and director of Ether Capital. Mr. Conn will continue to serve as an adviser to the company for an interim period to assist in transitioning the business to the new management team.
Ether Capital is a Toronto-based technology company that launched last January; and along with OMERS and Mr. Seif’s Purpose Investments, includes the backing of an OMERS-backed startup called Citizen Hex that buys and sells Ethereum digital tokens, and L4 Ventures, a Toronto blockchain incubator advised by Ethereum founder Vitalik Buterin.
Ethereum is a blockchain platform used for applications and facilitating transactions across the internet without an intermediary. Ether is the system's unit of payment.
Last January, Ether Captial announced it’s objective to become the central business and investment hub for the Ethereum ecosystem and will invest in Ethereum’s native utility token “Ether” as a strategic asset, and selectively invest in, or acquire, Ethereum-based businesses.
“We have an exciting opportunity to become the central business and investment hub for the Ethereum ecosystem, and [Brian and Stefan’s] leadership, expertise and experience will bolster the active management of the company to drive this vision,” said Som Seif, executive chairman and co-chief investment officer of Ether Capital.
“Brian and Stefan bring proven expertise in both technology and capital markets to the Ether Capital team … we are excited for them to engage with shareholders and the Ethereum community to accelerate the company’s growth and leadership position in the cryptocurrency space.”
Mr. Mosoff is an active member of the crytocurrenty community as both an entrepreneur and angel investor focused on blockchain and cryptocurrencies. Since 2013 he has run a Toronto-based family office that invests in early stage projects such as Ethereum’s 2014 crowdfunding.
As CEO of Ether Capital, Mr. Mosoff will be responsible for the sourcing and evaluation of investment opportunities, engaging with the Ethereum community and growing the public profile of Ether Capital.
“I look forward to leading [the company] through its next phase of growth and building it into a leading, publicly traded company focused on web 3.0 technologies and the Ethereum network,” Mr. Mosoff said in a statement.
Mr. Coolican replaces Scott Bartholomew, who also resigned from his position as chief financial officer but will remain with the company for a transition period.
Prior to joining Ether Capital, Mr. Coolican was a director in the investment banking group at Cormark Securities, where he spent 10 years specializing in corporate finance and M&A advisory for a variety of sectors including technology, cleantech, industrials and media.
Most recently, Mr. Coolican led Cormark’s investment banking efforts in blockchain and cryptocurrency. He has been an active investor in bitcoin, ether and other cryptocurrency projects and protocols since 2015.
As president and CFO of Ether Capital, Mr. Coolican will be responsible for the sourcing and evaluation of investment opportunities as well as the finance, operations and investor relations of the company.
“I’m eager to engage with current and prospective shareholders to raise awareness of Ether Capital,” Mr. Coolican said in a statement. “I have been involved in capital markets for my entire career and believe that Ether Capital presents investors with a unique and compelling opportunity to gain exposure to a whole new market through the Ethereum ecosystem.”
The board of Ether Capital features several top names in the young North American cryptocurrency technology and investment space including: Citizen Hex CEO Ben Roberts; Joey Krug, co-chief investment officer of early San Francisco blockchain investment fund Pantera Capital; Vancouver venture capitalist Boris Wertz of Version One Ventures, an investor in cryptocurrency exchange Coinbase; L4 co-founder Liam Horne.
OMERS Ventures CEO John Ruffolo also sits on the board.