North of Tyne Combined Authority Fund Manager for Venture/Equity Fund

Concepts

• north tyneside
• finance and insurance
• ntca
• north of tyne combined authority fund manager for venture/equity fund
• authority fund manager
• tyne combined authority
• north tyneside council
• behalf of north of tyne combined authority
• procurement of a fund manager
• additional funding

Location

Description

On behalf of North of Tyne Combined Authority ("NTCA") (see section VI.3 of this notice), North Tyneside Council (the "Council") is conducting a procurement of a fund manager in respect of a venture/equity fund it is establishing to improve access to finance for high-growth potential organisations based in North of Tyne (the "Fund"). The Fund, which is estimated to have an initial value of c.£40 million, will be composed of £10 million of public sector grant, with the remaining £30 million being private sector finance expected to be raised and leveraged by the successful bidder. The fund manager will have responsibility for executing deals and managing the Fund and will be expected to manage the Fund for the duration of the funding cycle (currently estimated to be at least). Provided additional funding is secured, there is potential for the Fund value to exceed £100 million. While the estimated range of value for the contract is explained in this notice, NTCA is unable to give a definitive contract value and the final value will depend on the scope of the final services required. https://procontract.due-north.com/Advert?advertId=66077649-f0dc-ec11-8114-005056...

CPV Codes

• 66000000 - Financial and insurance services

Indicators

• Contract is suitable for SMEs.