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D2N2-0723 D2N2 Early Stage Angel Investment Fund (ESAIF) Fund Manager

D2N2 Local Enterprise Partnership

This public procurement record has 2 releases in its history.

Award

24 Sep 2024 at 10:36

Award Notice
Tender

09 Aug 2023 at 10:09

Tender Notice
Summary of the contracting process

The D2N2 Local Enterprise Partnership (LEP) has awarded a contract for the management of the D2N2 Early Stage Angel Investment Fund (ESAIF). Operating within the local authority areas of Derby, Derbyshire, Nottingham, and Nottinghamshire, D2N2 aims to promote economic growth by fostering early-stage, start-up businesses. Haatch Ventures LLP has been appointed as the Fund Manager. The award marks the completion of the procurement stage, with key dates including the contract signing on 1st May 2024. The procurement followed an open procedure, with the industry category focused on financial and insurance services, aiming to stimulate equity investment in start-ups requiring pre-seed and seed investment.

This opportunity creates significant growth potential for businesses involved in financial and venture capital services, particularly those authorised by the Financial Conduct Authority (FCA). By managing an investment fund of up to £4 million with a co-investment requirement, the selected business can enable early-stage companies to access crucial financial support, thereby driving local economic development. Businesses specialising in fund management, venture capital, and start-up investments are ideally positioned to benefit from such procurement opportunities to expand their portfolios and contribute to the regional economic ecosystem.

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Notice Information

Notice Title

D2N2-0723 D2N2 Early Stage Angel Investment Fund (ESAIF) Fund Manager

Notice Description

Established in 2010, D2N2 is a Local Enterprise Partnership (LEP) operating in the local authority areas of Derby, Derbyshire, Nottingham, and Nottinghamshire to grow the area's economy. Local enterprise partnerships are non-statutory bodies responsible for local economic development in England. D2N2 is one of the largest LEPs in England, with a population of more than two million people and with an economic output of over PS50.5 billion GVA (gross value added). D2N2 is looking to establish an early stage angel investment fund (the Fund) in order to promote equity investment in a core client group where intervention is required to stimulate real opportunity, namely early-stage, start-up businesses between 6 months to 2-years old, typically requiring small amounts of pre-seed and seed investment. D2N2 has up to PS4m to invest and requires a 1:1 co-investment rate from the successful Tenderer. D2N2 proposes a Limited Partnership fund structure for the Fund in order to deliver the investments. D2N2 is looking for a service provider who will be appointed to establish the Fund (including taking the role of General Partner of the Limited Partnership) and to be responsible for the day-to-day operation, decision-making and management of the Fund (the Fund Manager).

Lot Information

Lot 1

Established in 2010, D2N2 is a Local Enterprise Partnership (LEP) operating in the local authority areas of Derby, Derbyshire, Nottingham, and Nottinghamshire to grow the area's economy. Local enterprise partnerships are non-statutory bodies responsible for local economic development in England. D2N2 is one of the largest LEPs in England, with a population of more than two million people and with an economic output of over PS50.5 billion GVA (gross value added). D2N2 is looking to establish an early stage angel investment fund (the Fund) in order to promote equity investment in a core client group where intervention is required to stimulate real opportunity, namely early-stage, start-up businesses between 6 months to 2-years old, typically requiring small amounts of pre-seed and seed investment. D2N2 has up to PS4m to invest and requires a 1:1 co-investment rate from the successful Tenderer. D2N2 proposes a Limited Partnership fund structure for the Fund in order to deliver the investments. D2N2 is looking for a service provider who will be appointed to establish the Fund (including taking the role of General Partner of the Limited Partnership) and to be responsible for the day-to-day operation, decision-making and management of the Fund (the Fund Manager).

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-h6vhtk-03ee2a
Publication Source
Find A Tender Service
Latest Notice
https://www.find-tender.service.gov.uk/Notice/030438-2024
Current Stage
Award
All Stages
Tender, Award

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
SME

Common Procurement Vocabulary (CPV)

CPV Divisions

66 - Financial and insurance services

CPV Codes

66000000 - Financial and insurance services

Notice Value(s)

Tender Value
Not specified
Lots Value
Not specified
Awards Value
Not specified
Contracts Value
£340,000 £100K-£500K

Notice Dates

Publication Date
24 Sep 20241 years ago
Submission Deadline
11 Sep 2023Expired
Future Notice Date
Not specified
Award Date
1 May 20242 years ago
Contract Period
Not specified - Not specified
Recurrence
Not specified

Notice Status

Tender Status
Complete
Lots Status
Cancelled
Awards Status
Active
Contracts Status
Active

Buyer & Supplier

Contracting Authority (Buyer)

Main Buyer
D2N2 Local Enterprise Partnership
Contact Name
Available with D3 Tenders Premium →
Contact Email
Available with D3 Tenders Premium →
Contact Phone
Available with D3 Tenders Premium →

Buyer Location

Locality
NOTTINGHAM
Postcode
NG2 1EP
Postcode Area
Nottingham
Country
England
Major Region (ITL 1)
TLF East Midlands (England)
Basic Region (ITL 2)
TLF1 Derbyshire and Nottinghamshire
Small Region (ITL 3)
TLF14 Nottingham
Delivery Location
TLF East Midlands (England)
Local Authority
Nottingham
Electoral Ward
Meadows
Westminster Constituency
Nottingham South

Supplier Information

Number of Suppliers
1
Supplier Name

Haatch Ventures LLP

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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