DfE Invest NI - Successor pre seed and seed fund and Proof of Concept grant fund
Buyer: DfE: Invest NI
- Published
- 12 March 2025
- Estimated value
- £10,300,000
- Place of performance
- UKN
- Procedure
- Open procedure
- Lots
- 1
- Notice number
- 008948-2025
- Reference
- ocds-h6vhtk-04cf14
- Official source
- Official source
CPV codes
- 66100000Banking and investment services
- 66120000Investment banking services and related services
- 66122000Corporate finance and venture capital services
- 66113000Credit granting services
- 66113100Micro-credit granting services
Description
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.
Awards
| Awarded to | Amount | Date |
|---|---|---|
| TECHSTART VENTURES LLP | — | — |
Official publications
- FTS · 008948-2025 · 12 March 2025
Frequently asked questions
- What is the estimated value of this tender?
- The estimated value published by the buyer is £10,300,000.
- Who is the buyer of this tender?
- The contracting authority is DfE: Invest NI (United Kingdom).
- How can I bid for public tenders in the United Kingdom?
- Bids are submitted through the official public procurement portal in the United Kingdom. El Vínculo helps you find tenders and analyse their documents; submission always happens at the official source.
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