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05 July 2011

AXM announces second investment by the North West Fund 4

AXM Venture Capital Limited has invested £50,000 for a minority equity stake in Camiloo Limited, representing the second investment of the North West Fund 4 Digital & Creative.


Camiloo, which began trading in 2009, develops mobile and desktop services to online retailers worldwide from its base in Salford Quays.
Starting with a single retainer, the company has grown to more than
320 clients worldwide, despite only a token marketing budget, with a
focus on its Amazon plugin for the e-commerce Magento software.
An exciting evolution of this integration lies ahead as the company
prepares to launch a new integration tool connecting retailers to over
120 marketplace websites such as eBay, Amazon and Pixmania.

Managing Director Mark Newby commented: "We have worked hard
to make our Company an investible proposition for AXM Venture
Capital. We began trading just over two years ago from a spare
room in an apartment, a story I think will sound familiar to many
start ups in the region. We now look forward to the launch of our
first major platform - www.channelunity.com - the evolution of the
product which has proven fundamental in our growth."
David Smith, Investment Director of AXM Venture Capital, added:
"In addition to looking to invest £500k-£1m in individual deals, we
are also looking to put seed investment of £50,000 or so into a
number of North West media and digital companies. Camiloo is a
great example of a such a business: a potentially high growth
business with an innovative solution to a known problem in the
market place, already scaling-up on an international basis where
there is the opportunity to make further larger rounds of investment
according to the companies' needs."

Andy Leach, CEO of North West Business Finance Limited, said: "This
is an exciting business investment for The North West Fund. Camiloo
has already demonstrated great potential and we look forward to the
company achieving its growth plans as part of an exciting portfolio of
investments comprising the North West Fund 4 Digital & Creative.

David Malpass, Head of the European Programme, said: "I am
delighted that the North West Fund is supporting an enterprising
company like Camiloo to develop and grow. The digital and creative
industry is hugely important in the North West generating £13.7bn in
turnover. Forward-thinking businesses like Camiloo are essential to
driving forward the significant economic contribution of the sector."


ENDS
Media contacts:
For The North West Fund
Alastair Henry, MC2 0161 236 1352
For AXM Venture Capital
David Smith, AXM Venture Capital 07801 522 307
NOTES TO EDITORS
About The North West Fund:
The North West Fund is a £185m evergreen investment fund established to
provide debt and equity funding from £50,000 to £2m to small and
medium sized enterprises (SMEs) based in, or relocating to, the North
West of England. The Fund is one of the largest public sector funds of its
kind in Europe and the largest in the UK.
The North West Fund is the umbrella name for the six funds that are
available to businesses in the form of debt, equity and quasi-equity. These
funds are managed by six fund managers under contract with North West
Business Finance Limited (NWBF), which has been established to oversee
the delivery of the Fund under the Joint European Resources for Micro to
Medium Enterprises Initiative (JEREMIE) in the North West. Funding is
provided by the European Investment Bank (EIB) and European Regional
Development Fund (ERDF)
Further information on The North West Fund is available at
www.thenorthwestfund.co.uk
About AXM Venture Capital
AXM Venture Capital is an experienced fund manager for digital, media,
and creative industries investments. It has offices in Manchester, Liverpool
and London. In addition to the North West Fund 4 Digital & Creative, It
currently manages two London-based digital and creative funds
(www.ccfund.co.uk).
The North West Fund for Digital & Creative provides finance from £50,000
to £1.5m to businesses seeking funding to support a broad range of needs
from start-up and early stage development through to expansion plans for
trading businesses. In return, the Fund will require an equity share in the
business.
For further information about this fund contact AXM Venture Capital
by telephone on 0161 408 1818 or 0151 324 1919 and
http://www.thenorthwestfund.co.uk/the-funds/digital-and-


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