Financial and insurance services

Tender description

Norfolk County Council (NCC) and University of East Anglia (UEA) are seeking a fund management provider to establish an approx. 10 000 000 GBP venture capital co-investment fund that invests into SME’s developing or selling products or services which have a carbon reduction impact in the New Anglia LEP, Herts LEP and Cambridgeshire and Peterborough Combined Authority areas. Capitalised by ERDF and managed by an SPV Holding Company jointly owned by NCC and UEA the fund will be required to deliver a number of non-financial as well as financial outcomes. Norfolk County Council has made an application to the European Regional Development Fund (ERDF) for the development of a LCIF 2 Fund to continue the regions impact on the green economy already established by the Low Carbon Innovation Fund 1. If our application is successful, the SPV Holding Company will seek to award a contract to a fund management provider to deliver the establishment of the Fund Partnership and provide Fund Manager services through a GP/LP structure working in collaboration with the Holding Company.