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The Provision of Investment Management Services for the Scottish Universities Fund Ignition Strategy

Scottish National Investment Bank

This public procurement record has 1 release in its history.

Tender

09 Oct 2026 at 01:00

OJEU - F2 - Contract Notice
Summary of the contracting process

The Scottish National Investment Bank is seeking an investment management firm to establish and manage a segregated mandate for its Scottish Universities Fund Ignition Strategy. The manager will set up and operate an investment vehicle, with the Bank as its sole investor, and have delegated discretion to manage the mandate under an agreed investment management contract. The strategy is part of a wider fund intended to support the creation, growth and long-term development of companies originating from Scottish universities. This is a specialist financial and investment management service focused on early-stage, innovation-led businesses. The work concerns investment in Scotland; the Bank is based in Edinburgh.

The Bank invited offers through an open procedure. The procurement is divided into one lot. The tender deadline was 10 November 2026 at 12:00, and the stated contract period is 3,600 days, with two possible 12-month extensions. The estimated procurement value is £6.5 million; the investment mandate to be managed is £15 million. Bids are assessed on quality, weighted at 80%, and price, weighted at 20%. The tender requires English-language submissions, and bids must remain valid for 90 days. Bidders must confirm they hold, or will provide evidence of, the FCA authorisation and permissions required to perform the services. The procurement was not stated as cancelled or withdrawn.

This opportunity is suited to investment managers authorised by the Financial Conduct Authority, with the permissions needed to manage the services. Bidders need to demonstrate a comparable, attributable track record in managing funds or strategies, reporting performance on both gross and net bases and including TVPI, DPI, IRR and MOIC. They must also provide two relevant case studies of early-stage, innovation-led investments, showing experience in sourcing, underwriting and scaling companies, alongside their role, investment thesis, risks, value-creation approach and outcomes. Suppliers must meet the specified professional indemnity, employers’ liability, and product and public liability insurance levels, and demonstrate satisfactory financial standing through audited accounts or a banker’s letter. The contract also offers scope to contribute skills and training opportunities, such as mentoring, apprenticeships and structured learning.

How relevant is this notice?

Notice Information

Notice Title

The Provision of Investment Management Services for the Scottish Universities Fund Ignition Strategy

Notice Description

The Bank is seeking proposals from suitably qualified and authorised investment management firms to establish and manage a 15 million GBP segregated investment mandate for the delivery of the Scottish Universities Ignition Fund Strategy ("the Mandate"). The successful bidder will be expected to establish and operate an appropriate investment vehicle through which the Mandate will be delivered, with the Bank acting as the sole investor. The Mandate forms one of two complementary investment strategies within the Scottish Universities Fund ("SUF"), a broader investment platform designed to support the creation, growth and long-term scaling of university-originated companies in Scotland. The purpose of this Invitation to Tender (ITT) is to appoint an investment manager with delegated discretion to manage the Mandate in accordance with an agreed Investment Management Contract and the requirements set out in this ITT.

Lot Information

Lot 1

The Bank is seeking proposals from suitably qualified and authorised investment management firms to establish and manage a 15 million GBP segregated investment mandate for the delivery of the Scottish Universities Ignition Strategy ("the Mandate"). The successful bidder will be expected to establish and operate an appropriate investment vehicle through which the Mandate will be delivered, with the Bank acting as the sole investor. The Mandate forms one of two complementary investment strategies within the Scottish Universities Fund ("SUF"), a broader investment platform designed to support the creation, growth and long-term scaling of university-originated companies in Scotland. The purpose of this Invitation to Tender (ITT) is to appoint an investment manager with delegated discretion to manage the Mandate in accordance with an agreed Investment Management Contract and the requirements set out in this ITT.

Renewal: 2 x 12 month extension periods

Notice Details

Publication & Lifecycle

Open Contracting ID
ocds-r6ebe6-0000840049
Publication Source
Public Contracts Scotland
Latest Notice
https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=OCT566430
Current Stage
Tender
All Stages
Tender

Procurement Classification

Notice Type
OJEU - F2 - Contract 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

66100000 - Banking and investment services

Notice Value(s)

Tender Value
£6,500,000 £1M-£10M
Lots Value
£6,500,000 £1M-£10M
Awards Value
Not specified
Contracts Value
Not specified

Notice Dates

Publication Date
9 Oct 20262 weeks ago
Submission Deadline
10 Nov 20263 weeks to go
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
Scottish National Investment 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
EDINBURGH
Postcode
EH1 3EG
Postcode Area
Edinburgh
Country
Scotland
Major Region (ITL 1)
TLM Scotland
Basic Region (ITL 2)
TLM1 East Central Scotland
Small Region (ITL 3)
TLM13 City of Edinburgh
Delivery Location
Not specified
Local Authority
City of Edinburgh
Electoral Ward
City Centre
Westminster Constituency
Edinburgh East and Musselburgh

Further Information

Notice Documents

  • https://www.publiccontractsscotland.gov.uk/search/show/search_view.aspx?ID=OCT566430
    The Provision of Investment Management Services for the Scottish Universities Fund Ignition Strategy - The Bank is seeking proposals from suitably qualified and authorised investment management firms to establish and manage a 15 million GBP segregated investment mandate for the delivery of the Scottish Universities Ignition Fund Strategy ("the Mandate"). The successful bidder will be expected to establish and operate an appropriate investment vehicle through which the Mandate will be delivered, with the Bank acting as the sole investor. The Mandate forms one of two complementary investment strategies within the Scottish Universities Fund ("SUF"), a broader investment platform designed to support the creation, growth and long-term scaling of university-originated companies in Scotland. The purpose of this Invitation to Tender (ITT) is to appoint an investment manager with delegated discretion to manage the Mandate in accordance with an agreed Investment Management Contract and the requirements set out in this ITT.

Open Contracting Data Standard (OCDS)

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