Tender for Venture Capital Partner

Tender for Venture Capital Partner

This procurement exercise seeks an experienced venture capital partner to be an integral member of the Northern Accelerator Project.

United Kingdom-Durham: Corporate finance and venture capital services

2019/S 097-235037

Contract notice

Services

Legal Basis:

Directive 2014/24/EU

Section I: Contracting authority

I.1)Name and addresses

University of Durham
RC000650
Procurement Service, Mountjoy Centre, Hawthorn Wing
Durham
DH1 3LE
United Kingdom
Contact person: Lyndsay Glasper
Telephone: +44 1913344530
E-mail: lyndsay.glasper@durham.ac.uk
NUTS code: UKC1

Internet address(es):Main address: www.dur.ac.uk

Address of the buyer profile: http://events.transaxions.com/service.aspx?event=6793

I.2)Information about joint procurement

I.3)Communication

The procurement documents are available for unrestricted and full direct access, free of charge, at: http://events.transaxions.com/service.aspx?event=6793
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be submitted electronically via: http://events.transaxions.com/service.aspx?event=6793
Tenders or requests to participate must be submitted to the abovementioned address

I.4)Type of the contracting authority

Body governed by public law

I.5)Main activity

Education

Section II: Object

II.1)Scope of the procurement

II.1.1)Title:

Venture Capital Partner

Reference number: OJEU19-004

II.1.2)Main CPV code

66122000

II.1.3)Type of contract

Services

II.1.4)Short description:

This procurement exercise seeks an experienced venture capital partner (VCP) to be an integral member of the Northern Accelerator Project and to manage investment and fundraising activities. These are:

1) Membership of the investment panel as a partner/advisor to the university led pre-incorporation fund;

2) Provide direct management of the Seed Investment Fund (SIF);

3) Lead the design, fund raising and subsequent management of the Northern Universities Investment Fund (NUIF).

II.1.5)Estimated total value

Value excluding VAT: 167 000.00 GBP

II.1.6)Information about lots

This contract is divided into lots: no
II.2)Description
II.2.1)Title:
II.2.2)Additional CPV code(s)

II.2.3)Place of performance

NUTS code: UKC

II.2.4)Description of the procurement:

This procurement exercise seeks an experienced venture capital partner (VCP) to be an integral member of the Northern Accelerator Project and to manage investment and fundraising activities. These are:

1) Membership of the investment panel as a partner/advisor to the university led pre-incorporation fund;

2) Provide direct management of the Seed Investment Fund (SIF);

3) Lead the design, fund raising and subsequent management of the Northern Universities Investment Fund (NUIF).

The ultimate goal of the VCP will be to raise and launch the NUIF as an economically viable venture fund. The fund will provide further capital for the most attractive opportunities arising from the project’s pre-seed and seed activities, as well as providing a dedicated source of investment for future spin-outs from the participating Universities. It is intended that NUIF will make investments at all stages of development (seed through to development capital) and be able to support its portfolio with substantial follow-on investment.

In building the fund, the VCP will be expected to work with a wide range of investors to establish the fund structure and strategy and engage external organisations with appropriate experience, as necessary. The size of the NUIF has a target of at least 50 000 000 GBP and ideally up to 100 000 000 GBP, but the ultimate size and precise nature of the fund will be determined by the close engagement of the VCP in all aspects of the project.

Whilst the value of the procurement is stated at 167 000 GBP this is the value the partner universities will pay to the supplier from project funding. Please note that project funding is only available until 31.3.2021 and any work of the VCP beyond this date will need to be self-funded.

A supplier engagement event is scheduled to take place during week commencing 24th June in Newcastle. Further details will be available to those suppliers who express an interest in participating in this procurement exercise.

To express an interest please click the following link: http://events.transaxions.com/service.aspx?event=6793

II.2.5)Award criteria

Price is not the only award criterion and all criteria are stated only in the procurement documents

II.2.6)Estimated value

Value excluding VAT: 167 000.00 GBP

II.2.7)Duration of the contract, framework agreement or dynamic purchasing system

Duration in months: 60
This contract is subject to renewal: no
II.2.9)Information about the limits on the number of candidates to be invited

II.2.10)Information about variants

Variants will be accepted: yes

II.2.11)Information about options

Options: yes
Description of options:

3 further extension periods of 12 months are available to this contract, subject to requirement and supplier performance.

II.2.12)Information about electronic catalogues

II.2.13)Information about European Union funds

The procurement is related to a project and/or programme financed by European Union funds: no
II.2.14)Additional information

Section III: Legal, economic, financial and technical information

III.1)Conditions for participation
III.1.1)Suitability to pursue the professional activity, including requirements relating to enrolment on professional or trade registers

III.1.2)Economic and financial standing

List and brief description of selection criteria:

Selection criteria as stated in the procurement documents.

III.1.3)Technical and professional ability

List and brief description of selection criteria:

Selection criteria as stated in the procurement documents.

III.1.5)Information about reserved contracts
III.2)Conditions related to the contract
III.2.1)Information about a particular profession
III.2.2)Contract performance conditions:
III.2.3)Information about staff responsible for the performance of the contract

Section IV: Procedure

IV.1)Description

IV.1.1)Type of procedure

Restricted procedure
IV.1.3)Information about a framework agreement or a dynamic purchasing system
IV.1.4)Information about reduction of the number of solutions or tenders during negotiation or dialogue
IV.1.6)Information about electronic auction

IV.1.8)Information about the Government Procurement Agreement (GPA)

The procurement is covered by the Government Procurement Agreement: no
IV.2)Administrative information
IV.2.1)Previous publication concerning this procedure

IV.2.2)Time limit for receipt of tenders or requests to participate

Date: 17/06/2019
Local time: 12:00

IV.2.3)Estimated date of dispatch of invitations to tender or to participate to selected candidates

Date: 05/07/2019

IV.2.4)Languages in which tenders or requests to participate may be submitted:

English

IV.2.6)Minimum time frame during which the tenderer must maintain the tender

Duration in months: 6 (from the date stated for receipt of tender)
IV.2.7)Conditions for opening of tenders

Section VI: Complementary information

VI.1)Information about recurrence

This is a recurrent procurement: no

VI.2)Information about electronic workflows

Electronic ordering will be used
Electronic payment will be used
VI.3)Additional information:
VI.4)Procedures for review

VI.4.1)Review body

University of Durham
University Office
Durham
DH1 3LE
United KingdomInternet address: www.dur.ac.uk
VI.4.2)Body responsible for mediation procedures
VI.4.3)Review procedure
VI.4.4)Service from which information about the review procedure may be obtained

VI.5)Date of dispatch of this notice:

17/05/2019

Enjoyed this post? Share it!