Contract award notice
Results of the procurement procedure
Section I: Contracting
entity
I.1) Name and addresses
Invest Northern Ireland
Bedford Square
Belfast
BT2 7ES
UK
E-mail: SSDAdmin@finance-ni.gov.uk
NUTS: UK
Internet address(es)
Main address: https://www.investni.com
Address of the buyer profile: https://www.finance-ni.gov.uk/topics/procurement
I.2) Joint procurement
The contract is awarded by a central purchasing body
I.4) Type of the contracting authority
Body governed by public law
I.5) Main activity
General public services
Section II: Object
II.1) Scope of the procurement
II.1.1) Title
DfE Invest NI — Provision of Fund Management Services for the Successor Seed Capital Fund and Successor Proof of Concept Fund
Reference number: 2072741
II.1.2) Main CPV code
66000000
II.1.3) Type of contract
Services
II.1.4) Short description
An FCA approved fund manager is required to manage and deliver the successor seed equity fund on behalf of Invest NI for a 10-year period (5 year investment/5 year realisation). The legal agreements will also incorporate provision for four 1-year extensions to the contract. The procurement will also include management of the proof of concept grant fund for a 6-year period (5 years awarding grants/1 year making final grant payments). The contract holder will be expected to deliver the seed equity fund contract on behalf of Invest NI for a 10-year period by entering into a limited partnership agreement (‘LPA’) and management services agreement (‘MSA’).
II.1.6) Information about lots
This contract is divided into lots:
No
II.1.7) Total value of the procurement
Value excluding VAT:
7 595 000.00
GBP
II.2) Description
II.2.2) Additional CPV code(s)
66100000
66110000
66120000
66113000
66122000
66190000
79400000
79900000
II.2.3) Place of performance
NUTS code:
UKN
II.2.4) Description of the procurement
An FCA approved fund manager is required to manage and deliver the successor seed equity fund on behalf of Invest NI for a 10-year period (5-year investment/5-year realisation). The legal agreements will also incorporate provision for four 1-year extensions to the contract. The procurement will also include management of the proof of concept grant fund for a 6-year period (5 years awarding grants/1 year making final grant payments). The contract holder will be expected to deliver the seed equity fund contract on behalf of Invest NI for a ten year period by entering into a limited partnership agreement (‘LPA’) and management services agreement (‘MSA’).
II.2.5) Award criteria
Quality criterion: Equity management experience
/ Weighting: 18.20
Quality criterion: Grant management experience
/ Weighting: 3.25
Quality criterion: Management of successor seed capital fund
/ Weighting: 14.95
Quality criterion: Management of successor proof of concept grant fund
/ Weighting: 3.25
Quality criterion: Personnel recruitment
/ Weighting: 7.15
Quality criterion: Marketing strategy development
/ Weighting: 3.90
Quality criterion: Venture capital development
/ Weighting: 6.50
Quality criterion: Engagement with Invest NI
/ Weighting: 3.90
Quality criterion: Governance
/ Weighting: 3.90
Cost criterion: Partner's share
/ Weighting: 35
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
Section IV: Procedure
IV.1) Description
IV.1.1) Type of procedure
Open procedure
IV.1.8) Information about Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement:
Yes
IV.2) Administrative information
IV.2.1) Previous publication concerning this procedure
Notice number in the OJ S:
2019/S 044-100502
Section V: Award of contract
Contract No: 1
A contract/lot is awarded:
Yes
V.2 Award of contract
V.2.1) Date of conclusion of the contract
09/07/2019
V.2.2) Information about tenders
Number of tenders received: 2
Number of tenders received from SMEs: 2
Number of tenders received by electronic means: 2
The contract has been awarded to a group of economic operators:
No
V.2.3) Name and address of the contractor
Techstart Ventures LLP
3rd Floor 21 Talbot Street
Belfast
BT1 2LD
UK
Telephone: +44 2890325506
E-mail: robyn@techstartni.com
NUTS: UK
Internet address(es)
URL: https://etendersni.gov.uk/epps
The contractor is an SME:
Yes
V.2.4) Information on value of the contract/lot (excluding VAT)
Initial estimated total value of the contract/lot:
Total value of the contract/lot:
: 7 595 000.00
GBP
V.2.5) Information about subcontracting
Section VI: Complementary information
VI.3) Additional information
The following text was published in the contract notice for this competition: CPD will comply with the Public Contracts Regulations 2015 and, where appropriate, will incorporate a standstill period (i.e. a minimum of 10 calendar days) at the point information on the award of the contract is communicated to tenderers. That notification will provide full information on the award decision. This provides time for unsuccessful tenderers to challenge the award decision before the contract is entered into.
VI.4) Procedures for review
VI.4.1) Review body
The UK does not have any such bodies with responsibility for appeal/mediation procedures
N/A
AD
VI.5) Date of dispatch of this notice
01/08/2019