Tender

Invitation to Tender for Consultants to Undertake Evaluation of ERDF Funded Venture Capital Fund

THE NORTH EAST FUND LIMITED

This public procurement record has 2 releases in its history.

TenderAmendment

10 Sep 2021 at 08:30

Tender Notice
Tender

11 Aug 2021 at 15:15

Tender Notice
Summary of the contracting process

The North East Fund Limited (TNEFL) is currently inviting tenders for consultants to evaluate its ERDF Funded Venture Capital Fund. Located in Newcastle upon Tyne, TNEFL has been operational since March 2018 and manages a venture capital and loan programme aimed at supporting small and medium-sized enterprises (SMEs) in the North East of England. The tender is classified under evaluation consultancy services and is in the open procurement stage, with submissions due by noon on 17th September 2021. The contract is expected to start on 4th October 2021 and conclude by 31st March 2022.

This tender presents a significant opportunity for consultancy firms specialising in public sector evaluations, particularly those experienced in assessing investment programmes. Businesses with expertise in data analysis, public funding, and economic evaluation will find this tender particularly relevant. As TNEFL continues to invest substantially in regional SMEs, this evaluation will play a crucial role in refining its approach and maximising impact, creating further prospects for consultants capable of demonstrating relevant experience and robust methodologies.

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Notice Information

Notice Title

Invitation to Tender for Consultants to Undertake Evaluation of ERDF Funded Venture Capital Fund

Notice Description

The Contracting Authority for this Tender is The North East Fund Limited (TNEFL), a company limited by guarantee with its registered office at Suite D, Fifth Floor, West One, Forth Banks, Newcastle upon Tyne, NE1 4PA: https://www.northeastfund.org/ . The North East Fund has been established with funding from: the England European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 (for which the Ministry for Housing, Communities and Local Government is the Managing Authority); the European Investment Bank and from returns on previous North East based, publicly supported investment funds. The members of TNEFL are the seven North East Local Authorities: Durham County Council; Gateshead Council; Newcastle City Council; The Council of the Borough of North Tyneside; Northumberland County Council; South Tyneside Council and Sunderland City Council. These represent the geographic area in which The North East Fund operates and are the Local Authority members of the North East Local Enterprise Partnership, which supported the establishment of TNEFL. TNEFL is the holding fund manager for a venture capital and loan programme which invests in Small and Medium sized Enterprises (SMEs) based in the North East of England. It is the principal investor and a limited partner in five funds which are set up as limited partnerships and which are managed by four independent, FCA authorised fund management companies: Maven Capital Partners; Mercia Asset Management; NEL Fund Managers and Northstar Ventures. The North East Fund began operating in March 2018 and to date its funds have invested c.PS62m in c.300 companies and are expected to invest a further PS58m in c.300 more companies in the period to March 2023 - with the potential to continue investing until 2025. The realisation phase of the five funds will continue at least until 2028, with the potential to be extended to 2032 - to allow time for the loans and investments made to be repaid and realised. A condition of the ERDF funding received by TNEFL is that an independent mid-fund evaluation exercise be undertaken to assess the performance of TNEFL's programme against its objectives. The purpose of this Invitation to Tender is to elicit proposals from independent consultants with expertise in the evaluation of public sector investment / funding programmes to undertake this evaluation exercise - in accordance with the specifications detailed in in the Invitation to Tender document available on Contracts Finder and at the News section of North East Fund's website. To tender, a written proposal document with a maximum length of 20 pages, detailing your firm's relevant experience and experience and delivery methodology must be submitted by email by noon on Friday 17th September 2021 at latest.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-b5fd17-eae59abf-91df-4f9f-b0d0-8d9a144f0213
Publication Source
Contracts Finder
Latest Notice
https://www.contractsfinder.service.gov.uk/Notice/b1275701-d33d-4167-a39b-433e5d31a9ff
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
Tender Notice
Procurement Type
Standard
Procurement Category
Services
Procurement Method
Open
Procurement Method Details
Open procedure (below threshold)
Tender Suitability
SME, VCSE
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

79 - Business services: law, marketing, consulting, recruitment, printing and security

CPV Codes

79419000 - Evaluation consultancy services

Notice Value(s)

Tender Value
£1
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
10 Sep 20214 years ago
Submission Deadline
17 Sep 2021Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
3 Oct 2021 - 31 Mar 2022 1-6 months
Recurrence
Not specified

Notice Status

Tender Status
Active
Lots Status
Not Specified
Awards Status
Not Specified
Contracts Status
Not Specified

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
THE NORTH EAST FUND LIMITED
Contact Name
Alastair Smith
Contact Email
alastair.smith@northeastfund.org
Contact Phone
0191 211 2313

Buyer Location

Locality
NEWCASTLE-UPON-TYNE
Postcode
NE1 3PA
Post Town
Newcastle upon Tyne
Country
England
Major Region (ITL 1)
TLC North East (England)
Basic Region (ITL 2)
TLC4 Northumberland, Durham and Tyne & Wear
Small Region (ITL 3)
TLC43 Tyneside
Delivery Location
Not specified
Local Authority
Newcastle upon Tyne
Electoral Ward
Monument
Westminster Constituency
Newcastle upon Tyne Central and West

Further Information

Notice Documents

Open Contracting Data Standard (OCDS)

View full OCDS Record for this contracting process

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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector. It is widely used by governments and organisations worldwide to report on procurement processes and contracts. 

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