Section one: Contracting authority
one.1) Name and addresses
LCRCA
1 Mann Island
Liverpool
L3 1BP
Contact
Procurement Team
tender@liverpoolcityregion-ca.gov.uk
Country
United Kingdom
Region code
UKD7 - Merseyside
Internet address(es)
Main address
https://www.liverpoolcityregion-ca.gov.uk/
Buyer's address
https://www.liverpoolcityregion-ca.gov.uk/
one.3) Communication
The procurement documents are available for unrestricted and full direct access, free of charge, at
Additional information can be obtained from the above-mentioned address
one.4) Type of the contracting authority
Regional or local authority
one.5) Main activity
General public services
Section two: Object
two.1) Scope of the procurement
two.1.1) Title
Liverpool City Region Seed Fund: Fund Manager
Reference number
DN712624
two.1.2) Main CPV code
- 66000000 - Financial and insurance services
two.1.3) Type of contract
Services
two.1.4) Short description
Liverpool City Region Combined Authority: Liverpool City Region Seed Fund
Please note that as per I.3. Communication above, the tender documents are not yet accessible on the Chest; the intended issue date is 15 April 2024.
Further information regarding this requirement is detailed below at II.2.4. Description of the procurement (nature and quantity of works, supplies or services or indication of needs and requirements)
two.1.6) Information about lots
This contract is divided into lots: No
two.2) Description
two.2.3) Place of performance
NUTS codes
- UKD7 - Merseyside
two.2.4) Description of the procurement
Liverpool City Region Combined Authority: Liverpool City Region Seed Fund
Background:
Led by the Metro Mayor, Steve Rotheram, the Combined Authority has prioritised innovation, enterprise and entrepreneurship to drive economic growth and create high value jobs. Liverpool City Region is backing innovators with great ideas and world-class products – turning them into high-growth businesses that offer quality jobs and add to UK plc’s bottom line.
Liverpool City Region has one of the UK’s most developed place-based innovation eco-systems. However, despite high business birth rates, Liverpool City Region has relatively low levels of high growth enterprises. This is in part due to a lack of finance at the crucial seed stage of investment. Research commissioned by Liverpool City Region Combined Authority indicates that ‘providers of Seed Fund investment in Liverpool City Region are limited’ despite a strong pipeline of demand.
Liverpool City Region Combined Authority has committed to investing in the LCR Seed Fund. The Combined Authority is leading on the procurement and selection of a Fund Manager. This forms part of a wider programme of activity to stimulate the growth of early-stage businesses with high-growth potential.
The Liverpool City Region Seed Fund will invest in businesses with high growth potential in return for equity stake. The Fund will focus on investment opportunities in the Liverpool City Region clusters of opportunity.
• Advanced Manufacturing
• Health and Life Sciences
• Digital and Creative
The CA will be the founding partner in the Seed Fund and provide a commitment of £10m. There is an ambition to leverage additional private investment to maximise the impacts of the Fund.
Brief Description of Requirement:
The CA will be conducting a tender exercise to seek a high-quality Fund Manager able to meet the objectives of the Fund. This will include consideration of the scale of Fund, options to leverage additional investment and proposals to embed activity in the Liverpool City Region Innovation Eco-System.
Expressions of Interest:
At this time LCRCA is seeking to make the market aware of the opportunity and we welcome interested parties to respond with an expression of interest to this notice by emailing Tender@liverpoolcityregion-ca.gov.uk and john.willis@liverpoolcityregion-ca.gov.uk.
Deadline 18.00 7th March
two.3) Estimated date of publication of contract notice
15 April 2024
Section four. Procedure
four.1) Description
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: No