The Finance South West Growth Fund has invested in social media and magazine publishing group Wildfire Communications as part of the company’s ambitious two year growth plan.
Bristol-based Wildfire owns a portfolio of market-leading magazines and social-networking based online communities* in niche markets, as well as producing magazines and online communities for external clients.
The company approached Finance South West, based in Plymouth, to back their innovative approach to integrated media. New investment from the Finance South West Growth Fund, managed by YFM Venture Finance, will see Wildfire launch 10 new niche titles in the coming 18 months which combine cutting-edge digital technology with traditional publishing.
Two new B2B and B2C leisure titles are due for launch this spring and Wildfire is also actively expanding its new contract communications division.
Finance South West, which is part funded by the EU, is an £18 million investment fund that can provide commercial finance from £10,000 up to £1 million for buying, starting or growing a business in the Objective Two area of the South West. It has now invested close to £10 million in 91 of the region’s businesses, levering over £20.6 million into the South West economy.
Wildfire clients now include big brands such as Coca-Cola, the BBC, Walkers, Carlsberg and Red Bull, and the company also works with clients requiring networking and user-generated content functionality.
“Last year saw the mass market arena dominated by the likes of Facebook and Bebo, but this year will see the social networking market fragment into smaller, more niche communities and special interest groups as companies research and develop ways to make Web 2.0 work for them.” says Ashley Howden, Wildfire MD.
“We give users and readers the opportunity to create their own online content, the best of which also appears in our magazines, helping them to feel genuinely involved with their community.”
“Our sites feature user content in the form of blogs, video, photos and audio plus professional editorial including news, expert advice, video interviews, video and audio podcasts. We are also now looking at mobile applications.”
Wildfire, formed in 2005 out of a magazine publishing company and digital agency, is focusing on expanding its contract publishing division in order to help more marketing and internal communications managers meet their business objectives using emerging communication technologies, including Web 2.0, to engage their employees and customers.
Keith Masson, Finance South West Growth Fund Manager, said: “Wildfire is building a genuine integrated media publishing group and is at the cutting edge of social networking. We look forward to playing a part in the company’s future success.”
ENDS
25/03/08
Notes to Editors
Wildfire Communications Limited owns a portfolio of market-leading magazines and social-networking online communities in niche markets including animation, dance, business and catering, as well as producing contract magazines and online communities for external clients interested in communication channels.
In 2007 Wildfire was nominated for two awards including the Association of Online Publishers Podcast of the Year and the Data Publishers Association Best Marketing Campaign. Wildfire was also granted the highest level of funding from the UK Film Council in order to further grow Imagine Animation magazine and online community.
*Wildfire’s self-owned integrated magazine and online communities include Imagine Animation, Irish Dancing, University Caterer and University Business.
For further information visit: www.wildfire.co.uk
Finance South West, which is part funded by the EU through the Objective Two Programme for the South West, is an £18 million investment fund targeting small and medium sized enterprises in this region with a range of equity, mezzanine and debt capital. Finance South West can provide commercial finance from £10,000 up to £1 million for buying, starting or growing a business in the Objective Two area of the South West. It has now invested close to £10 million in the region’s businesses, levering over £20.6 million into the South West economy.
The Finance South West Loan Fund has invested over £3.7 million in 73 small and medium-sized businesses, levering more than £6.5 million into the South West economy, safeguarding 160 jobs and creating 98. The Finance South West Growth Fund has invested a total of £6 million in 13 companies, levering over £15 million into the economy, creating or safeguarding 278 jobs.
The company also offers business planning services and mentoring through a network of qualified professionals and a panel of non-executive directors to help businesses achieve their goals.
Finance Cornwall Fund Managers Limited is an investment company authorised and regulated by the Financial Services Authority registered in England and Wales, number 05010380, registered address: 14 High Cross, Truro, Cornwall, TR1 2AJ.
For further information visit: www.financesouthwest.co.uk
YFM Venture Finance Ltd (part of the YFM Group)
YFM Group, authorised by the Financial Services Authority, is the UK’s most active investor in the small and medium enterprise marketplace. YFM Group manages in excess of £250 million of funds with investment sizes ranging from £50,000 to £5 million. YFM is located in Plymouth, Leeds, Manchester, London and Bristol with over 40 investment professionals across the UK. In the South West, YFM Group manages the Finance South West Growth Fund and the South West Ventures Fund.
Contact - PR for Finance South West: Samantha McKay, PR Manager, Formedia. Telephone: 01752 762120 / Email: samantha@formedia.co.uk. |
