BANKING/FINANCE

The Leasing Department, an equipment leasing company in Cypress, has traded its shares for a 25% stake--and operating control--in a San Rafael venture capital firm.

The Leasing Department moved the operations of Venture Funding, technically its parent company now, to Cypress last week, said John H. Breon, president of both companies.

Breon, who was sole owner of the leasing company, said he plans to merge his old firm into Venture Funding at a later date and plans to seek approval from the Securities and Exchange Commission for a subsequent stock offering in the parent firm.

The venture firm has a base of about $3.5 million and will continue to invest in new companies, Breon said. He said he plans to redirect the firm’s investing focus toward leasing activities similar to ones he currently is engaged in.

The Leasing Department funds $10 million in leasing a year for its business customers, Breon said. It buys and leases out anything from vehicles to office computer equipment.