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| Source: | Find a Tender Service (FTS) |
| Buyer: | DfE: Invest NI |
| Main Category: | Services |
| Procurement Method: | Open procedure |
| Tender Status: | Complete |
| Estimated Value (ex. VAT): | £12,650,000 |
| Release Date: | 10 January 2025 |
| Application Deadline: |
| 11 February 2025 |
| Procurement ID (OCID): | ocds-h6vhtk-04cf14 |
| Notice Reference: | 000845-2025 |
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.
Document pack· 1 file
Pipeline status
Not addedContract imported automatically · AI writes the response
Application Deadline
11 February 2025
Closed
Estimated Value
£12,650,000
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