Cpd Supplies And Services Division Tender

Invest Ni Would Like To Procure A Fund Manager To Deliver The Following Services On Its Behalf: Manage A Successor Pre Seed And Seed Equity Fund For An Initial Period Of Ten Years (with Scope To Extend By A Maximum Of Five Years To Allow An Orderly Exit From The Equity Investments) To Undertake A Total Investment Of £48m In The Ni Market With An Associated Management Fee Of A Maximum Of £10.3m Over 10 Years. Investments Will Be Made In The Form Of Equity Securities, Mainly Ordinary Shares But Can Include Preference Shares Or Instruments Convertible Into Ordinary/ Preference Shares. If The Fund Is Extended Beyond The 10 Years, Invest Ni Will Negotiate With The Fund Manager In Relation To Additional Fees And Manage A Proof Of Concept (poc) Grant Fund For A Period Of Six Years To Undertake Total Investment Of £7.2m In The Ni Market With An Associated Maximum Fee Of £900k Plus Vat. A Legal Contract, By Way Of A Limited Partnership Agreement (lpa) And A Management Service Agreement (msa) Will Govern The Ten-year Contract To Deliver The Successor Fund. There Will Be A Separate Grant Management Agreement For The Poc Grant Fund. Please See Tender Documents For Full Details.