Prior information notice
This notice is for prior information only
Section I: Contracting
authority
I.1) Name and addresses
West Yorkshire Combined Authority
8876556
Wellington House, 40-50 Wellington Street
Leeds
LS1 2DE
UK
Contact person: Carla Shoesmith
E-mail: carla.shoesmith@westyorks-ca.gov.uk
NUTS: UKE4
Internet address(es)
Main address: https://www.westyorks-ca.gov.uk
Address of the buyer profile: https://uk.eu-supply.com/ctm/Company/CompanyInformation/Index/103257
I.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge at:
https://uk.eu-supply.com/ctm/Supplier/Documents/Folder/96930
Additional information can be obtained from the abovementioned address
I.4) Type of the contracting authority
Regional or local authority
I.5) Main activity
General public services
Section II: Object
II.1) Scope of the procurement
II.1.1) Title
Early Stage Investment Fund
II.1.2) Main CPV code
66122000
II.1.3) Type of contract
Services
II.1.4) Short description
*PIN ONLY*
We are looking for a fund manager with experience in early-stage investments into Health & Life Science and Digital Tech companies across West Yorkshire. We expect our funds to be used to contribute between £200k and £500k to a pre-seed/early-seed deal, with the ability to bring in leverage, either via other private sector funds, or via public sector funds such as the Northern Powerhouse Investment Fund. The fund manager will work closely with our accelerator partner (Health Innovation Yorkshire & Humber) to secure deal flow. The fund manager will not be expected to make follow-on investments.
Anticipated tender timings: We are aiming to go into delivery in Summer 2025
Anticipated contract length: It's envisaged that the first four years would be the investment period, followed by six years of portfolio management.
Estimated budget: £4M is confirmed currently, but we are looking to get the budget north of £10M. This will be confirmed in due course.
II.1.6) Information about lots
This contract is divided into lots:
No
II.2) Description
II.2.2) Additional CPV code(s)
66122000
73000000
72000000
85000000
II.2.3) Place of performance
NUTS code:
UKE4
Main site or place of performance:
West Yorkshire
II.2.4) Description of the procurement
*PIN ONLY*
We are looking for a fund manager with experience in early-stage investments into Health & Life Science and Digital Tech companies across West Yorkshire. We expect our funds to be used to contribute between £200k and £500k to a pre-seed/early-seed deal, with the ability to bring in leverage, either via other private sector funds, or via public sector funds such as the Northern Powerhouse Investment Fund. The fund manager will work closely with our accelerator partner (Health Innovation Yorkshire & Humber) to secure deal flow. The fund manager will not be expected to make follow-on investments.
Anticipated tender timings: We are aiming to go into delivery in Summer 2025
Anticipated contract length: It's envisaged that the first four years would be the investment period, followed by six years of portfolio management.
Estimated budget: £4M is confirmed currently, but we are looking to get the budget north of £10M. This will be confirmed in due course.
II.3) Estimated date of publication of contract notice:
01/09/2025
Section IV: Procedure
IV.1) Description
IV.1.8) Information about Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement:
Yes
Section VI: Complementary information
VI.5) Date of dispatch of this notice
06/02/2025