Appointment of Co-Investors for the London Co-Investment Fund

Appointment of Co-Investors for the London Co-Investment Fund

The London Co-investment Fund is a new fund established by Funding London and Capital Enterprise with the aim of investing 23 000 000 GBP in London-based, seed stage companies in the Science, Digital and Technology sectors.

United Kingdom-London: Financial and insurance services

2015/S 094-170386

Contract notice

Services

Directive 2004/18/EC

Section I: Contracting authority

I.1)Name, addresses and contact point(s)

SME Wholesale Finance (London) Limited
22 Upper Ground
For the attention of: c/o Cora Marler — Sweett Group
SE1 9PD London
UNITED KINGDOM
Telephone: +44 2070619000
E-mail: cora.marler@sweettgroup.com

Internet address(es):

General address of the contracting authority: http://fundinglondon.co.uk/

Address of the buyer profile: http://www.mytenders.org/search/Search_AuthProfile.aspx?ID=AA0441

Electronic access to information: http://www.mytenders.org/

Electronic submission of tenders and requests to participate: http://www.mytenders.org/

Further information can be obtained from: Sweett Group Ltd
60 Gray’s Inn Road
For the attention of: Cora Marler
WC1X 8AQ London
UNITED KINGDOM
Telephone: +44 2070619000
E-mail: cora.marler@sweettgroup.com
Internet address: http://www.sweettgroup.com

Specifications and additional documents (including documents for competitive dialogue and a dynamic purchasing system) can be obtained from: Sweett Group Ltd
60 Gray’s Inn Road
For the attention of: Cora Marler
WC1X 8AQ London
UNITED KINGDOM
Telephone: +44 2070619000
E-mail: cora.marler@sweettgroup.com
Internet address: http://www.sweettgroup.com

Tenders or requests to participate must be sent to: Sweett Group Ltd
60 Gray’s Inn Road
For the attention of: Cora Marler
WC1X 8AQ London
UNITED KINGDOM
Telephone: +44 2070619000
E-mail: cora.marler@sweettgroup.com
Internet address: http://www.sweettgroup.com

I.2)Type of the contracting authority

Body governed by public law

I.3)Main activity

Economic and financial affairs

I.4)Contract award on behalf of other contracting authorities

The contracting authority is purchasing on behalf of other contracting authorities: no

Section II: Object of the contract

II.1)Description

II.1.1)Title attributed to the contract by the contracting authority:

Appointment of Co-Investors for the London Co-Investment Fund (LCIF).

II.1.2)Type of contract and location of works, place of delivery or of performance

Services
Service category No 6: Financial services a) Insurances services b) Banking and investment services
Main site or location of works, place of delivery or of performance: London.

NUTS code UKI

II.1.3)Information about a public contract, a framework agreement or a dynamic purchasing system (DPS)

The notice involves the establishment of a framework agreement

II.1.4)Information on framework agreement

Framework agreement with several operators
maximum number of participants to the framework agreement envisaged: 3

Duration of the framework agreement

Duration in years: 2

II.1.5)Short description of the contract or purchase(s)

The London Co-investment Fund (“LCIF”) is a new fund established by Funding London and Capital Enterprise with the aim of investing 23 000 000 GBP in London-based, seed stage companies in the Science, Digital and Technology sectors. The LCIF defines seed stage as very early stage companies where the proof of concept stage has been successfully concluded. The LCIF is financed by 25 000 000 GBP provided by the Mayor of London and the London Enterprise Panel from the Growing Places Fund and 1 700 000 GBP from Funding London and is managed by Funding London.
The LCIF is a co-investment fund and operates by contracting with early stage investors including venture capital funds and angel syndicates.
Since its launch in early December the LCIF has invested 1 500 000 GBP in 11 London-based, high-growth, early stage technology companies. LCIF investment has helped raise an aggregate of over 8 000 000 GBP in total investment commitments.
Funding London is now seeking to broaden the reach of the LCIF across the target sectors through additional co-investment partners.
We are seeking to competitively select up to three additional organisations to become co-investment partners with the LCIF. The selected partners will enter into co-investment agreements with the LCIF with an expected initial duration of two years. The co-investment agreement will set out the requirements for potential investee companies and the rights and obligations of the co-investment partners.
The aims of the LCIF are as follows:
— To invest 23 000 000 GBP into high-growth early stage Science, Digital and Technology businesses in London during a three-year period;
— To achieve a target across the fund of 2.9 GBP of private sector investment for every 1 GBP invested by LCIF;
— To generate approx. 2 653 jobs as a result of the investments being made; and
— To maximise returns from exits to enable further investment in later years.
The co-investment partners will be selected on the basis of their knowledge of, focus on and track record of investing in the Science, Digital and Technology sectors; deal volume and pipeline; and investment approach.

A ‘Meet the Buyers’ event is being held at 10:00 on Thursday 4.6.2015 at IDEALondon, EC2A 2BB. Please confirm your intention to attend the event by emailing Cora Marler, Sweett Group (cora.marler@sweettgroup.com) no later than 22.5.2015.

Note: To register your interest in this notice and obtain any additional information please visit the myTenders Web Site athttp://www.myTenders.org/Search/Search_Switch.aspx?ID=153669

The buyer has indicated that it will accept electronic responses to this notice via the Postbox facility. A user guide is available athttp://www.myTenders.org/sitehelp/help_guides.aspx

Suppliers are advised to allow adequate time for uploading documents and to dispatch the electronic response well in advance of the closing time to avoid any last minute problems.

II.1.6)Common procurement vocabulary (CPV)

66000000, 66100000, 66120000, 66122000

II.1.7)Information about Government Procurement Agreement (GPA)

II.1.8)Lots

This contract is divided into lots: no

II.1.9)Information about variants

Variants will be accepted: no
II.2)Quantity or scope of the contract

II.2.1)Total quantity or scope:

SME Wholesale Finance (London) Limited which trades under the name of Funding London is the named “Contracting Authority”. SME Wholesale Finance (London) Limited are seeking to competitively select up to three additional organisations to become co-investment partners with the LCIF. The selected partners will enter into co-investment agreements with the LCIF with an expected initial duration of two years. The aims of the LCIF are as follows:
— To invest 23 000 000 GBP into high-growth early stage Science, Digital and Technology businesses in London during a three-year period;
— To achieve a target across the fund of 2.9 GBP of private sector investment for every 1 GBP invested by LCIF;
— To generate approx. 2 653 jobs as a result of the investments being made; and
— To maximise returns from exits to enable further investment in later years.

II.2.2)Information about options

Options: no

II.2.3)Information about renewals

This contract is subject to renewal: no

II.3)Duration of the contract or time limit for completion

Duration in months: 24 (from the award of the contract)

Section III: Legal, economic, financial and technical information

III.1)Conditions relating to the contract

III.1.1)Deposits and guarantees required:

A performance bond or guarantee may be required. Appropriate levels of insurance will also be required.
Further information will be provided within the PQQ and tender documentation.

III.1.2)Main financing conditions and payment arrangements and/or reference to the relevant provisions governing them:

All financing conditions and payments will be set out in the PQQ and ITT documents.

III.1.3)Legal form to be taken by the group of economic operators to whom the contract is to be awarded:

No legal form is required. If the candidate is a joint venture or consortium, the Contracting Authority shall require members to accept joint and several liability.

III.1.4)Other particular conditions

The performance of the contract is subject to particular conditions: yes
Description of particular conditions: Regulation 57 contains mandatory and discretionary criteria. All mandatory conditions and pass/fail criteria for selection at the pre-qualification stage will be set out in the PQQ. The discretionary criteria will also be outlined in the PQQ. The authority will review this information alongside any discretionary criteria prior to the award of the contract.
III.2)Conditions for participation

III.2.1)Personal situation of economic operators, including requirements relating to enrolment on professional or trade registers

Information and formalities necessary for evaluating if the requirements are met: (1) All candidates will be required to produce a certificate or declaration demonstrating that they have not been convicted of a criminal offence relating to the conduct of their business or profession.
Further information will be provided in the PQQ and Tender documentation generally.

III.2.2)Economic and financial ability

Information and formalities necessary for evaluating if the requirements are met: Candidates may be subject to an independent financial check. Further information will be provided in the PQQ and Tender documentation generally.

III.2.3)Technical capacity

Information and formalities necessary for evaluating if the requirements are met:
(1) A statement of the principal goods sold or services provided by the supplier or the services provider in the past 3 years, detailing the dates on which the goods were sold or the services provided; the consideration received; the identity of the person to whom the goods were sold or the services were provided.
Further information will be provided in the PQQ and Tender documentation generally.
III.2.4)Information about reserved contracts
III.3)Conditions specific to services contracts
III.3.1)Information about a particular profession

III.3.2)Staff responsible for the execution of the service

Legal persons should indicate the names and professional qualifications of the staff responsible for the execution of the service: yes

Section IV: Procedure

IV.1)Type of procedure

IV.1.1)Type of procedure

Restricted

IV.1.2)Limitations on the number of operators who will be invited to tender or to participate

Envisaged minimum number 5
Objective criteria for choosing the limited number of candidates: The best scoring candidates based on the criteria and scoring mechanism as set out in the Pre Qualification Questionnaire that relates to financial standing, experience and technical ability.
IV.1.3)Reduction of the number of operators during the negotiation or dialogue
IV.2)Award criteria

IV.2.1)Award criteria

The most economically advantageous tender in terms of the criteria stated in the specifications, in the invitation to tender or to negotiate or in the descriptive document

IV.2.2)Information about electronic auction

An electronic auction will be used: no
IV.3)Administrative information

IV.3.1)File reference number attributed by the contracting authority:

SG/109131/CM
IV.3.2)Previous publication(s) concerning the same contract
IV.3.3)Conditions for obtaining specifications and additional documents or descriptive document

IV.3.4)Time limit for receipt of tenders or requests to participate

19.6.2015 – 12:00

IV.3.5)Date of dispatch of invitations to tender or to participate to selected candidates

30.6.2015

IV.3.6)Language(s) in which tenders or requests to participate may be drawn up

English.
IV.3.7)Minimum time frame during which the tenderer must maintain the tender
IV.3.8)Conditions for opening of tenders

Section VI: Complementary information

VI.1)Information about recurrence
VI.2)Information about European Union funds

VI.3)Additional information

The Greater London Authority (GLA) is investing 25 000 000 GBP.
(MT Ref:153669).
VI.4)Procedures for appeal

VI.4.1)Body responsible for appeal procedures

High Court of England and Wales
The Strand
WC2A 2LL London
UNITED KINGDOM
Telephone: +44 2079476000

Body responsible for mediation procedures

High Court of England and Wales
The Strand
WC2A 2LL London
UNITED KINGDOM
Telephone: +44 2079476000

VI.4.2)Lodging of appeals

Precise information on deadline(s) for lodging appeals: Please refer to the Public Contracts Regulations 2015.

VI.4.3)Service from which information about the lodging of appeals may be obtained

The Cabinet Office
Rosebury Court, St Andrews Business Park
NR7 0HS Norwich
UNITED KINGDOM
Telephone: +44 8450004999

VI.5)Date of dispatch of this notice:

12.5.2015

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