Award, Contract
DfE Invest NI - Successor pre seed and seed fund and Proof of Concept grant fund
DFE: INVEST NI
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Contract Timeline
- Publication Date
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12th March 2025 12:02:44 PM
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Contract Summary
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.
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Contract Details
- Open Contracting ID
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ocds-h6vhtk-04cf14
- Publication Source
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Find a Tender Service
- Procurement Stage
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Award, Contract
- Procurement Method
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Open
- Procurement Method Details
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Open Procedure
- Procurement Category
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Services
- Tender Suitability
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- Framework / DPS
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Contract Classification
- CPV Code(s)
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66000000
- CPV Division(s)
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66 - Financial and insurance services
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Awarding Authority
- Buyer Name
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SSDAdmin.CPDfinance-ni.gov.uk
- Buyer Email
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SSDAdmin@CPDfinance-ni.gov.uk
- Buyer Phone
- Buyer Address
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Bedford Square, Bedford Street
BELFAST
BT2 7ES
United Kingdom
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Awarded Supplier(s)