📑Invest Northern Ireland - development fund.
Procurement process summary
This process is to purchase Invest Northern Ireland - development fund.
This contract was awarded by 🇬🇧 Department of Finance and Personnel Northern Ireland for an amount of GBP 6,225,000 to 1 supplier. It was published on 2011-01-25 through open
Transparency in this process is reflected in the detailed publication of all aspects of the contract and its results.
Buying entity🇬🇧 Department of Finance and Personnel Northern Ireland Buying unitnot reported Publication date2011-01-25 Contest statusnot reported DescriptionInvest Northern Ireland (Invest NI) proposes to establish a development fund using the limited partnership structure with a ten year term (subject to extension in accordance with the limited partnership agreement constituting the limited partnership) and with an investment range of GBP 450 000 to GBP 2 000 000 (subject to EU state aid approval). A GBP 30 000 000 fund is proposed with a commitment from invest NI of the lesser of 33 1/3 % or GBP 10 000 000 on a subordinated basis and the fund manager raising GBP 20 000 000 from private investors.The tenderer will be required to establish and manage the development fund in accordance with best venture capital industry practice and in compliance with the Financial Services and Markets Act (2000).The general focus of the proposed fund will be on technology-based projects which have previously been in receipt of investment funds from NISPO, business angel investors and others and which need further investment to help realise their potential. Projects must fall within the Invest NI eligibility criteria, (excludes retail, property, ship-building etc).The fund manager must have experience covering the investment cycle - identifying, making, managing and realising investments. The fund manager must be fully authorised and regulated under the Financial Services and Markets Act 2000.Awards
This award was granted to Crescent Capital by Department of Finance and Personnel Northern Ireland for an amount of GBP 6,225,000. The procurement process was conducted through open for the category of services. The award was granted on 2011-04-11. This is award number 1.
| Supplier | Amount | Award date | Award number |
|---|---|---|---|
| 🇬🇧 Crescent Capital | GBP 6,225,000 | 2011-04-11 | 1 |
Market context and opportunities
The execution of this contract allows the entity Department of Finance and Personnel Northern Ireland to fulfill its public service objectives efficiently.
The open purchase modality ensures that the process is transparent and compliant with regulations.
Transparency in this process is reflected in the detailed publication of all aspects of the contract and its results.
This transparency in public procurement promotes fair competition, prevents corruption, and ensures that public resources are used efficiently for the benefit of citizens.
Additional data
Contract NumberUK_ocds-70d2nz-62f2d305-b41f-4a50-b89c-2ba636314a51-award-1Publication date2011-01-25Contract datenot reportedAward date2011-04-11CategoriesservicesPurchase modalityopenMethod detailspt_openStatusnot reportedData sources
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