DfE Invest NI - Successor pre seed and seed fund and Proof of Concept grant fund
CfT CA Unique ID:
SSD-6426
Evaluation Mechanism:
Best Price-Quality Ratio
Description:
Invest NI would like to procure a fund manager to deliver the following services on its behalf: Manage a Successor pre seed and seed equity fund for an initial period of ten years (with scope to extend by a maximum of five years to allow an orderly exit from the equity investments) to undertake a total investment of £48m in the NI market with an associated management fee of a maximum of £10.3m over 10 years. Investments will be made in the form of equity securities, mainly ordinary shares but can include preference shares or instruments convertible into ordinary/ preference shares. If the fund is extended beyond the 10 years, Invest NI will negotiate with the fund manager in relation to additional fees and Manage a Proof of Concept (POC) grant fund for a period of six years to undertake total investment of £7.2m in the NI market with an associated maximum fee of £900k plus VAT. A legal contract, by way of a Limited Partnership Agreement (LPA) and a Management Service Agreement (MSA) will govern the ten-year contract to deliver the successor fund. There will be a separate Grant Management Agreement for the POC grant fund. Please see Tender documents for full details.
Procurement Type:
Services
CPC Category:
Financial services: (a) Insurance services, (b) Banking and investment services
Directive:
2014/24/EU (Classic)
Procedure:
Open
CfT Involves:
A Public Contract
CPV Codes:
66000000-Financial and insurance services 66100000-Banking and investment services 66120000-Investment banking services and related services 66122000-Corporate finance and venture capital services 66113000-Credit granting services 66113100-Micro-credit granting services
Contact Point:
SSDAdmin.CPD@finance-ni.gov.uk
Publish on behalf of:
Invest Northern Ireland
Award per Item:
No
Inclusion of e-Auctions:
No
NUTS codes:
UKN
Estimated value (GBP):
12,650,000
Above or Below OJEU Threshold:
Above
Time-limit for receipt of tenders or requests to participate:
11/02/2025 15:00
End of clarification period:
03/02/2025 15:00
Upload of documents within the clarifications:
Yes
Tenders Opening Date:
11/02/2025 15:30
Allow suppliers to make an online Expression Of Interest:
Yes
Contract awarded in Lots:
No
EU funding:
No
Multiple tenders will be accepted:
No
Contract duration in months or years, excluding extensions: