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The North West Fund for Digital & Creative, managed by AXM
Venture Capital Limited, has made a £350,000 equity investment into
First Active Media Limited, which operates the Female First fashion
and lifestyle website, alongside a further £25,000 of equity from
Female First attracts the largest number of visitors of any
similar female site in the UK with 2million monthly unique
First Active, which is based in Ashton-in-Makerfield, has
evolved from an online retailer into the publisher of one of the
UK's most professionally-constructed and entertaining sites focused
on the female market. The investment will help enhance the site's
content, further develop its affiliate programme and fund the
recruitment of additional sales and marketing staff.
David Sharrock, chief executive of MEN Media until earlier this
year, joins the company as non-executive chairman, while Martin
Boddy, who is a well known figure in the digital marketing sector,
has been appointed as a non-executive director.
Managing director Stephen Reay said: "We are proud of having
created such a successful, high-quality site with our own limited
resources. The new equity will allow us to complete our strategy of
developing the UK's leading online women's lifestyle site."
David Smith, Investment Director of AXM Venture Capital, added:
"When we first met Stephen Reay, we were incredibly impressed with
what the company had created from a small office in the North West.
The team has a clear plan to build on the site's huge popularity,
using the Fund's investment to grow the team and fully capitalise
on the website traffic."
The North West Fund for Digital and Creative is part of the
£185m North West Fund financed by the European Regional Development
Fund (ERDF) and the European Investment Bank (EIB).
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