Newtek Capital Acquires Major Stake In DRTV Agency Direct Creations
Newtek Capital, a venture capital firm, placed an undisclosed investment last week in Direct Creations LLC, New York, a direct response television agency.For its investment, Newtek will receive a 25 percent equity stake in Direct Creations LLC and one of four seats on the company board. The funds from the investment will be used for general working capital and product development.
Direct Creations LLC markets merchandise via short- and long-form infomercials, traditional retail distribution channels and online at www.directcreations.com. The company's primary focus is fitness equipment. It was recently responsible for developing and marketing the AB Roller.
