---
title: "GMCA 399- Life Sciences Venture Capital Investment Fund 2 for Greater Manchester, Cheshire and Warrington"
ocid: "ocds-h6vhtk-03017b"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-03017b"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-03017b.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-03017b.json"
source: "Find A Tender Service"
current_stage: "Tender"
buyer: "GREATER MANCHESTER COMBINED AUTHORITY"
published: "2021-12-15"
---

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

Buyer: GREATER MANCHESTER COMBINED AUTHORITY  
Current stage: Tender  
OCID: ocds-h6vhtk-03017b

[View canonical contract page](https://d3tenders.com/contract/?ocid=ocds-h6vhtk-03017b)  
[Download OCDS JSON](https://d3tenders.com/contract/ocds-h6vhtk-03017b.json)

## Summary

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.

## Notice

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.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/031236-2021 |
| 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 |
| All stages | Tender |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 15 Dec 2021 |
| Submission deadline | 31 Jan 2022 |
| Future notice date | Not specified |
| Award date | Not specified |
| Contract period | Not specified |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £10,000,000 |
| Lots value | Not specified |
| Awards value | Not specified |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Active |
| Lots status | Active |
| Awards status | Not specified |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | GREATER MANCHESTER COMBINED AUTHORITY |
| Locality | MANCHESTER |
| Post town | Manchester |
| Postcode | M1 6EU |
| Country | England |
| ITL 1 | TLD North West (England) |
| ITL 2 | TLD3 Greater Manchester |
| ITL 3 | TLD33 Manchester |
| Local authority | Manchester |
| Electoral ward | Deansgate |
| Westminster constituency | Manchester Central |
| Delivery location | TLD North West (England) |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66000000 - Financial and insurance services

## Release History

- 15 Dec 2021 at 12:28 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/031236-2021

## Notice URLs

- http://www.manchesterfire.gov.uk/
- https://www.the-chest.org.uk/

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-h6vhtk-03017b. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-03017b.json.