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GMCA 399- Life Sciences Venture Capital Investment Fund 2 for Greater Manchester, Cheshire and Warrington

Greater Manchester Combined Authority

This public procurement record has 1 release in its history.

Tender

15 Dec 2021 at 12:28

Tender Notice
Summary of the contracting process

The Greater Manchester Combined Authority (GMCA) is currently conducting a procurement process titled "GMCA 399 - Life Sciences Venture Capital Investment Fund 2 for Greater Manchester, Cheshire and Warrington." This tender, classified under the financial and insurance services sector, is in the active stage of procurement, specifically the tender phase. The deadline for submitting tenders is set for 31 January 2022, and the tender process is being facilitated through an open procedure. The intended contract value for the fund management services is estimated to be between £20 million and £25 million, aimed at supporting life sciences businesses within the Greater Manchester and Cheshire and Warrington regions.

This tender presents significant opportunities for businesses specialising in venture capital management, particularly those with expertise in life sciences investments. Companies that have experience in fund management, equity investments, and support for small and medium-sized enterprises (SMEs) in the life sciences sector are well-positioned to compete for this contract. The successful fund manager will not only manage the Life Sciences Venture Capital Investment Fund but will also have the opportunity to raise additional funding from private sector partners, thus enhancing their business growth and networking potential within the vibrant life sciences ecosystem in the target areas.

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Notice Information

Notice Title

GMCA 399- Life Sciences Venture Capital Investment Fund 2 for Greater Manchester, Cheshire and Warrington

Notice Description

The contract is for the provision of fund management services to a proposed Life Sciences Venture Capital Investment Fund 2 for Greater Manchester, Cheshire and Warrington (working title for 'LSF2'). It is expected that the Fund Manager will bring both significant experience and knowledge of the venture capital funding market with specific expertise in life science investment in unlisted companies, and also an understanding of public sector sourced funding requirements. The Fund Manager will lead on the investment of the fund and how it will be managed to provide a long term sustainable model. The Fund manager will also be expected to raise further funding from the private sector for each investment it makes. The value of the Fund to be managed is likely to be between 20 000 000 GBP - 25 000 000 GBP. There is no maximum fund size and it is open to other participants. The contract will be placed with a Limited Partnership vehicle which is yet to be created. The various investor partners will take a limited partnership interest and the successful contractor will, probably through a subsidiary entity, be required to take on the General Partner role.

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-03017b
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/031236-2021
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
Tender Suitability
Not specified
Awardee Scale
Not specified

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
£10,000,000 £10M-£100M
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
15 Dec 20214 years ago
Submission Deadline
31 Jan 2022Expired
Future Notice Date
Not specified
Award Date
Not specified
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

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

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
Greater Manchester Combined Authority
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
MANCHESTER
Postcode
M1 6EU
Postcode Area
Manchester
Country
England
Major Region (ITL 1)
TLD North West (England)
Basic Region (ITL 2)
TLD3 Greater Manchester
Small Region (ITL 3)
TLD33 Manchester
Delivery Location
TLD North West (England)
Local Authority
Manchester
Electoral Ward
Deansgate
Westminster Constituency
Manchester Central

Further Information

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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