Contract notice
Section I: Contracting
authority
I.1) Name and addresses
SME Wholesale Finance (London) Limited
22 Upper Ground
London
SE1 9PD
UK
Contact person: c/o Susan Goss — Currie & Brown UK Limited
Telephone: +44 2070619000
E-mail: susan.goss@curriebrown.com
NUTS: UKI
Internet address(es)
Main address: http://fundinglondon.co.uk
Address of the buyer profile: http://www.mytenders.org/search/Search_AuthProfile.aspx?ID=AA0441
I.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge at:
http://www.mytenders.org
Additional information can be obtained from the abovementioned address
Tenders or requests to participate must be sent electronically to:
http://www.mytenders.org
Electronic communication requires the use of tools and devices that are not generally available. Unrestricted and full direct access to these tools and devices is possible, free of charge, at:
http://www.mytenders.org
I.4) Type of the contracting authority
Body governed by public law
I.5) Main activity
Economic and financial affairs
Section II: Object
II.1) Scope of the procurement
II.1.1) Title
Appointment of Co-Investors for the London Co-Investment Fund (LCIF) 2017.
II.1.2) Main CPV code
66000000
II.1.3) Type of contract
Services
II.1.4) Short description
Funding London is the trading name of SME Wholesale Finance (London) Limited. Funding London are seeking to competitively select between three to five additional organisations to become co-investment partners with the LCIF. The selected partners will enter into co-investment agreements with the LCIF with an investment period of 18 months. The aims of the LCIF are as follows:
— To invest 23m 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.1.6) Information about lots
This contract is divided into lots:
No
II.2) Description
II.2.2) Additional CPV code(s)
66000000
66100000
66120000
66122000
II.2.3) Place of performance
NUTS code:
UKI
Main site or place of performance:
London.
II.2.4) Description of the procurement
The London Co-investment Fund (‘LCIF’) was 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 December 2014 the LCIF has invested 12 300 000 GBP in 76 London-based, high-growth, early stage technology companies through nine co-investment partners selected in the autumn of 2014 and in the summer of 2015. LCIF investment has helped raise an aggregate of over 85 000 000 GBP in total investment commitments.
Funding London is now seeking to recruit additional co-investment partners to broaden the reach of the fund in particular in sectors that are underrepresented in the current portfolio.
We are seeking to competitively select between three and five additional organisations to become co-investment partners with the LCIF. The selected partners will enter into co-investment agreements with the LCIF with an investment period of 18 months. 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 23m 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 ‘Bidders Briefing’ event is being held promptly at 14:00 (registration commences at 13.30) on Friday 7.4.2017 at IDEALondon EC2A 2BB. The session will run until 16:00. Please confirm your intention to attend the event by emailing Susan Goss, Currie & Brown UK Limited (susan.goss@curriebrown.com ).
Note: to register your interest in this notice and to obtain any additional information please visit the MyTenders website at: http://www.mytenders.org
The buyer has indicated that it will accept electronic responses to this notice via the Postbox facility. A user guide is available at http://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.2.5) Award criteria
Criteria below:
Quality criterion: Quality
/ Weighting: 95
Cost criterion: Price
/ Weighting: 5
II.2.7) Duration of the contract, framework agreement or dynamic purchasing system
Duration in months: 18
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:
No
II.2.11) Information about options
Options:
No
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
The Greater London Authority (GLA) is investing 25 000 000 GBP.
Section III: Legal, economic, financial and technical information
III.1) Conditions for participation
III.1.2) Economic and financial standing
Selection criteria as stated in the procurement documents
III.1.3) Technical and professional ability
Selection criteria as stated in the procurement documents
III.2) Conditions related to the contract
Section IV: Procedure
IV.1) Description
IV.1.1) Type of procedure
Open procedure
IV.1.3) Information about a framework agreement or a dynamic purchasing system
The procurement involves the establishment of a framework agreement with several operators.
Envisaged maximum number of participants to the framework agreement: 5
IV.1.8) Information about Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement:
No
IV.2) Administrative information
IV.2.2) Time limit for receipt of tenders or requests to participate
Date:
03/05/2017
Local time: 12:00
IV.2.4) Languages in which tenders or requests to participate may be submitted
EN
IV.2.7) Conditions for opening of tenders
Date:
03/05/2017
Local time: 12:00
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 invoicing will be accepted
Electronic payment will be used
VI.3) Additional information
Note: to register your interest in this notice and obtain any additional information please visit the myTenders Web Site at http://www.myTenders.org/Search/Search_Switch.aspx?ID=195532.
The buyer has indicated that it will accept electronic responses to this notice via the Postbox facility. A user guide is available at http://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.
(MT Ref:195532).
VI.4) Procedures for review
VI.4.1) Review body
High Court of England and Wales
The Strand
London
WC2A 2LL
UK
Telephone: +44 2079476000
VI.5) Date of dispatch of this notice
31/03/2017