---
title: "Procurement of Fund Management Services for University Commercialisation and Spinout Fund"
ocid: "ocds-h6vhtk-04b047"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-h6vhtk-04b047"
markdown_url: "https://d3tenders.com/contract/ocds-h6vhtk-04b047.md"
json_url: "https://d3tenders.com/contract/ocds-h6vhtk-04b047.json"
source: "Find A Tender Service"
current_stage: "Award"
buyer: "THE NORTH EAST FUND LIMITED"
published: "2026-03-20"
---

# Procurement of Fund Management Services for University Commercialisation and Spinout Fund

Buyer: THE NORTH EAST FUND LIMITED  
Current stage: Award  
OCID: ocds-h6vhtk-04b047

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## Summary

The North East Fund Limited is engaging in the procurement process for fund management services, targeting the banking and investment industry, to manage the University Commercialisation and Spinout Fund in the North East of England. The tender is in the award stage, with the contract signed on 11 February 2026, valuing approximately £3,531,000. The fund aims to invest in companies emerging from or commercialising intellectual property alongside universities such as Durham, Newcastle, Northumbria, Sunderland, and Teesside. The procurement used a competitive procedure with negotiation, as defined by the Public Contracts Regulations 2015, and involves a single FCA authorised fund manager for a 10-year contract, potentially extendable to 20 years. The process ensures innovation and R&D investment in these regions by promoting the commercialisation of research and spinout creation.

This tender acquires innovative fund management services that can catalyse business growth by investing in high-risk, high-growth early-stage ventures, offering significant opportunities for SMEs in the finance and investment sectors. Businesses that are authorised and registered with the Financial Conduct Authority, or those planning to gain such authorisations, stand a good chance to benefit. The contract promises collaborative engagements with local universities, offering access to a vast pipeline of spinout and commercialisation opportunities. Furthermore, the selective procurement method involving negotiation is ideal for businesses seeking long-term involvement and strategic partnerships within the dynamic ecosystem of university-led innovation and entrepreneurship in the North East of England.

## Notice

The North East Fund seeks to appoint a professional, FCA authorised fund management organisation to deliver a University commercialisation and spinout fund in the North East of England. The fund will invest in companies which have emerged from, or are commercialising intellectual property in conjunction with, one or more of: Durham University; Newcastle University; Northumbria University; The University of Sunderland and Teesside University (the "NE Universities"). In doing so, the Fund will drive innovation and R&D investment in the North East, including through translational research, high quality SME innovation support and the development of nationally significant assets through the promotion of the commercialisation of research and spinout creation from these research intensive institutions. The Fund has the working title of the "University Commercialisation and Spinout Fund"; its final name will be agreed with the appointed fund manager. The North East's Universities and the North East Combined Authority share an objective to drive innovation and R&D investment in the North East, including through translational research, high quality SME innovation support and the development of nationally significant assets through the promotion of the commercialisation of research and spinout creation from research intensive institutions. The Fund will support these objectives by providing risk tolerant and patient investments to relatively high-risk, potential high-growth early-stage ventures which are commercialising research and innovation activity in collaboration with one or more of the NE Universities. The appointed Fund Manager will be required to work closely and collaboratively with the NE Universities to help identify, catalyse and maximise spinout and other commercialisation activity and thereby generate deal-flow for the Fund. Significant progress has been made on commercialising research and innovation activity at the NE Universities, with collaborative programmes such as the Northern Accelerator helping to achieve over 50 spinouts in recent years. The NE Universities have developed commercialisation systems and deal terms in response to the recommendations of the Independent Spin Out Review and which are aligned with the University Spin-Out Investment Terms guide. The NE Universities have a sizable pipeline of spinout and other commercialisation opportunities which the appointed Fund Manager will gain access to, and will work collaboratively with the NE Universities to help identify those which are best suited to the Fund and have the greatest potential to achieve significant scale

### Lot Information

Lot 1

The procurement process was conducted in accordance with the Public Contracts Regulations 2015 (as amended) using the Competitive Procedure with Negotiation as detailed in Regulation 29 of those Regulations. The purpose of this procurement was to procure the services of a single FCA regulated fund manager. The contract will have an initial duration of 10 years, but can be extended by up to a further 10 years, to 20 years in total. The contract value stated in this Contract Notice is an estimate based on assumptions regarding the duration of the contract and the profile of exits from, and impairments, to portfolio companies. As such, the ultimate fees paid under the contract could be lower or higher than the estimated contract value stated in this Contract Award Notice and is likely to be higher in the event that additional capital is committed to the fund which facilitates the extension of the investment period beyond the initial 5 year period.

Options: The contract comprises an Investment Period and a Realisation Period, which are both initially contracted to last for 5 years but which can both be extended (by agreement) - such that the maximum aggregate duration (of Investment Period plus Realisation Period) will be 20 years.

Renewal: The contract comprises an Investment Period and a Realisation Period, which are both initially contracted to last for 5 years but which can both be extended (by agreement) - such that the maximum aggregate duration (of Investment Period plus Realisation Period) will be 20 years.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Find A Tender Service |
| Latest notice | https://www.find-tender.service.gov.uk/Notice/025788-2026 |
| Notice type | Tender Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Selective |
| Procurement method details | Competitive procedure with negotiation |
| Tender suitability | Not specified |
| Awardee scale | SME |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 20 Mar 2026 |
| Submission deadline | 22 Nov 2024 |
| Future notice date | Not specified |
| Award date | 11 Feb 2026 |
| Contract period | Not specified |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £5,500,000 |
| Lots value | £5,500,000 |
| Awards value | Not specified |
| Contracts value | £3,531,000 |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Cancelled |
| Awards status | Active |
| Contracts status | Active |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | THE NORTH EAST FUND LIMITED |
| Locality | NEWCASTLE UPON TYNE |
| Post town | Newcastle upon Tyne |
| Postcode | NE1 3PA |
| Country | England |
| ITL 1 | TLC North East (England) |
| ITL 2 | TLC4 Northumberland, Durham and Tyne & Wear |
| ITL 3 | TLC43 Tyneside |
| Local authority | Newcastle upon Tyne |
| Electoral ward | Monument |
| Westminster constituency | Newcastle upon Tyne Central and West |
| Delivery location | TLC North East (England) |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | NORTHSTAR VENTURES |

## CPV Codes

### Divisions

- 66 - Financial and insurance services

### Codes

- 66100000 - Banking and investment services
- 66122000 - Corporate finance and venture capital services

## Release History

- 20 Mar 2026 at 13:34 - Award - Award Notice - https://www.find-tender.service.gov.uk/Notice/025788-2026
- 22 Oct 2024 at 15:13 - Tender - Tender Notice - https://www.find-tender.service.gov.uk/Notice/034211-2024

## Notice URLs

- http://www.northeastfund.org
- https://www.northeastfund.org/business-guidance-support/

## 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-04b047. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-h6vhtk-04b047.json.