Notice Information
Notice Title
Fund Managers for the South East Investment Fund and the East of England Investment Fund
Notice Description
The British Business Bank (the Bank) is a government-owned economic development bank that makes finance markets for smaller businesses work more effectively. Our mission is to drive economic growth by helping smaller businesses get the finance they need to start, scale and stay in the UK. In doing so, we help capture the economic value of innovation for the UK and create jobs and prosperity for people across the country. The Bank designs programmes that provide funds and guarantees to private sector partners, enabling them to finance a greater number of smaller businesses, either through debt or equity. It uses economic evidence so that its programmes address market failures affecting smaller businesses across the economy. It also works to improve smaller businesses' awareness of the finance options available to them. Nations and Regions Investments Limited (NRIL) is a wholly owned subsidiary of the British Business Bank that manages a number of investment schemes for the Department for Business and Trade (DBT), including the proposed South East Investment Fund (SEIF) and East of England Investment Fund (EEIF). NRIL is the Contracting Authority for this procurement. In the 2025 Spending Review, the Government announced an extension of the Nations and Regions Investment Funds (NRIF) programme to include PS350m to be made available for the South East and the East of England regions. The funds are to be allocated according to the following split: - PS210m for the South East Investment Fund (SEIF) - PS140m for the East of England Investment Fund (EEIF) Within each region the funding will be split into two sub-funds: one for Equity (approximately 60% - offering early stage and later stage equity investments up to PS5m); and one for Debt (approximately 40% - offering business loans of between PS25,000 and PS2m). A proportion of each fund will be held back ("Investor Reserve") and may be added as additional funding ("Additional Allocation") depending on circumstances and particular factors. Tenderers are expected to have some regional experience and a track record of funding viable Small and Medium Enterprises (SMEs) that are looking to grow. Tenderers should be aligned to the Programme Objectives, that the funds will: - increase the supply and diversity of early-stage finance for UK smaller businesses, providing funds to firms that might otherwise not receive investment and helping to reduce disparities in access to finance; - be run in a commercially sustainable way to promote a shift away from an expectation of public sector grants towards a culture of borrowing and investing for growth; - drive sustainable economic growth through supporting new and growing businesses across the UK with an inclusive approach to all eligible sectors; - have a demonstrable presence across the relevant geographical area linking up the finance community to increase reach and create an impact beyond the funds, helping to boost productivity, innovation and jobs; - align with the Bank's commitments to net zero by 2050 and promoting diversity, equity and inclusion in the distribution of finance. It is expected that NRIL will begin making investment commitments to the SEIF and EEIF Fund Managers in Summer 2026. The duration of the Contract Services will be: - Investment Period: The first 5 years of the fund during which the Fund can make new investments. This period can be extended by up to two years at the sole discretion of NRIL. - Realisation: the period beginning immediately after the Investment Period and ending on the date which is 5 years after the end of the Investment Period (which will include the ability of the SEIF and EEIF Fund Managers to make follow-on investments in portfolio businesses). This period can be extended by up to two years at the sole discretion of NRIL.
Lot Information
South East Investment Fund - Equity
Initial Allocation of Funds: PS88m Equity investments up to PS5m - this figure may be exceeded in exceptional circumstances and with Investor Consent In the South East of England Region only Geographical Targets (ITL2 and ITL3 areas) as set out in the procurement documentation and the Contract. The Lot Value is the estimated maximum value of Fund Manager fees that the Authority expects to pay under the agreement.
Renewal: During the Investment Period (first 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority. During the Realisation period (subsequent 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority.
South East Investment Fund - DebtInitial Allocation of Funds: PS59m Debt loans from PS25k up to PS2m - this figure may be exceeded in exceptional circumstances and with Investor Consent In the South East of England Region only Geographical Targets (ITL2 and ITL3 areas) as set out in the procurement documentation and the Contract. The Lot Value is the estimated maximum value of Fund Manager fees that the Authority expects to pay under the agreement.
Renewal: During the Investment Period (first 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority. During the Realisation period (subsequent 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority.
East of England Investment Fund - EquityInitial Allocation of Funds: PS63m Equity investments up to PS5m - this figure may be exceeded in exceptional circumstances and with Investor Consent In the East of England Region only Geographical Targets (ITL2 and ITL3 areas) as set out in the procurement documentation and the Contract. The Lot Value is the estimated maximum value of Fund Manager fees that the Authority expects to pay under the agreement.
Renewal: During the Investment Period (first 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority. During the Realisation period (subsequent 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority.
East of England Investment Fund - DebtInitial Allocation of Funds: PS42m Debt loans from PS25k up to PS2m - this figure may be exceeded in exceptional circumstances and with Investor Consent In the East of England Region only Geographical Targets (ITL2 and ITL3 areas) as set out in the procurement documentation and the Contract. The Lot Value is the estimated maximum value of Fund Manager fees that the Authority expects to pay under the agreement.
Renewal: During the Investment Period (first 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority. During the Realisation period (subsequent 5 years) the Contract may be extended by up to two years at the sole discretion of the Contracting Authority.
Notice Details
Publication & Lifecycle
- Open Contracting ID
- ocds-h6vhtk-05f5ca
- Publication Source
- Find A Tender Service
- Latest Notice
- https://www.find-tender.service.gov.uk/Notice/041235-2026
- Current Stage
- Award
- All Stages
- Tender, Award
Procurement Classification
- Notice Type
- UK6 - Contract Award Notice
- Procurement Type
- Standard
- Procurement Category
- Services
- Procurement Method
- Open
- Procurement Method Details
- Competitive flexible procedure
- Tender Suitability
- SME
- Awardee Scale
- SME
Common Procurement Vocabulary (CPV)
- CPV Divisions
-
- 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
66190000 - Loan brokerage services
Notice Value(s)
- Tender Value
- £52,000,000 £10M-£100M
- Lots Value
- £52,000,000 £10M-£100M
- Awards Value
- £52,000,000 £10M-£100M
- Contracts Value
- Not specified
Notice Dates
- Publication Date
- 5 May 20261 months ago
- Submission Deadline
- 2 Feb 2026Expired
- Future Notice Date
- Not specified
- Award Date
- 22 Apr 20262 months ago
- Contract Period
- 26 Jun 2026 - 26 Jun 2036 Over 5 years
- Recurrence
- Not specified
Notice Status
- Tender Status
- Complete
- Lots Status
- Complete
- Awards Status
- Pending
- Contracts Status
- Not Specified
Buyer & Supplier
Contracting Authority (Buyer)
- Main Buyer
- BRITISH BUSINESS BANK
- Contact Name
- Available with D3 Tenders Premium →
- Contact Email
- Available with D3 Tenders Premium →
- Contact Phone
- Available with D3 Tenders Premium →
Buyer Location
- Locality
- SHEFFIELD
- Postcode
- S1 2GQ
- Post Town
- Sheffield
- Country
- England
-
- Major Region (ITL 1)
- TLE Yorkshire and The Humber
- Basic Region (ITL 2)
- TLE3 South Yorkshire
- Small Region (ITL 3)
- TLE32 Sheffield
- Delivery Location
- TLH East (England), TLJ South East (England)
-
- Local Authority
- Sheffield
- Electoral Ward
- City
- Westminster Constituency
- Sheffield Central
Further Information
Notice Documents
-
https://www.find-tender.service.gov.uk/Notice/041235-2026
5th May 2026 - Contract award notice on Find a Tender -
https://www.find-tender.service.gov.uk/Notice/082931-2025
15th December 2025 - Tender notice on Find a Tender
Open Contracting Data Standard (OCDS)
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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