Section one: Contracting authority
one.1) Name and addresses
D2N2 Local Enterprise Partnership
8 Experian Way
Nottingham
NG2 1EP
Contact
Miss Holly Platts
holly.platts@derbyshire.gov.uk
Country
United Kingdom
Region code
UKF - East Midlands (England)
Internet address(es)
Main address
Buyer's 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
D2N2-0723 D2N2 Early Stage Angel Investment Fund (ESAIF) Fund Manager
Reference number
DN683649
two.1.2) Main CPV code
- 66000000 - Financial and insurance services
two.1.3) Type of contract
Services
two.1.4) Short description
Established in 2010, D2N2 is a Local Enterprise Partnership (LEP) operating in the local authority areas of Derby, Derbyshire, Nottingham, and Nottinghamshire to grow the area’s economy. Local enterprise partnerships are non-statutory bodies responsible for local economic development in England. D2N2 is one of the largest LEPs in England, with a population of more than two million people and with an economic output of over £50.5 billion GVA (gross value added).
D2N2 is looking to establish an early stage angel investment fund (the Fund) in order to promote equity investment in a core client group where intervention is required to stimulate real opportunity, namely early-stage, start-up businesses between 6 months to 2-years old, typically requiring small amounts of pre-seed and seed investment. D2N2 has up to £4m to invest and requires a 1:1 co-investment rate from the successful Tenderer.
D2N2 proposes a Limited Partnership fund structure for the Fund in order to deliver the investments. D2N2 is looking for a service provider who will be appointed to establish the Fund (including taking the role of General Partner of the Limited Partnership) and to be responsible for the day-to-day operation, decision-making and management of the Fund (the Fund Manager).
two.1.6) Information about lots
This contract is divided into lots: No
two.1.7) Total value of the procurement (excluding VAT)
Value excluding VAT: £340,000
two.2) Description
two.2.3) Place of performance
NUTS codes
- UKF - East Midlands (England)
two.2.4) Description of the procurement
Established in 2010, D2N2 is a Local Enterprise Partnership (LEP) operating in the local authority areas of Derby, Derbyshire, Nottingham, and Nottinghamshire to grow the area’s economy. Local enterprise partnerships are non-statutory bodies responsible for local economic development in England. D2N2 is one of the largest LEPs in England, with a population of more than two million people and with an economic output of over £50.5 billion GVA (gross value added).
D2N2 is looking to establish an early stage angel investment fund (the Fund) in order to promote equity investment in a core client group where intervention is required to stimulate real opportunity, namely early-stage, start-up businesses between 6 months to 2-years old, typically requiring small amounts of pre-seed and seed investment. D2N2 has up to £4m to invest and requires a 1:1 co-investment rate from the successful Tenderer.
D2N2 proposes a Limited Partnership fund structure for the Fund in order to deliver the investments. D2N2 is looking for a service provider who will be appointed to establish the Fund (including taking the role of General Partner of the Limited Partnership) and to be responsible for the day-to-day operation, decision-making and management of the Fund (the Fund Manager).
two.2.5) Award criteria
Quality criterion - Name: Quality / Weighting: 80
Cost criterion - Name: Cost / Weighting: 20
two.2.11) Information about options
Options: No
two.2.13) Information about European Union Funds
The procurement is related to a project and/or programme financed by European Union funds: No
Section four. Procedure
four.1) Description
four.1.1) Type of procedure
Open procedure
four.1.8) Information about the Government Procurement Agreement (GPA)
The procurement is covered by the Government Procurement Agreement: Yes
four.2) Administrative information
four.2.1) Previous publication concerning this procedure
Notice number: 2023/S 000-023186
Section five. Award of contract
A contract/lot is awarded: Yes
five.2) Award of contract
five.2.1) Date of conclusion of the contract
1 May 2024
five.2.2) Information about tenders
Number of tenders received: 3
The contract has been awarded to a group of economic operators: No
five.2.3) Name and address of the contractor
Haatch Ventures LLP
The Hub, Blackfriars Street
Stamford
PE9 2BW
Country
United Kingdom
NUTS code
- UKF - East Midlands (England)
The contractor is an SME
Yes
five.2.4) Information on value of contract/lot (excluding VAT)
Total value of the contract/lot: £340,000
Section six. Complementary information
six.4) Procedures for review
six.4.1) Review body
Public Procurement Review Service
London
Country
United Kingdom