GMCA 399- Life Sciences Venture Capital Investment Fund 2 for Greater Manchester, Cheshire and Warrington

Tender description

The contract is for the provision of fund management services to a proposed Life Sciences Venture Capital Investment Fund 2 for Greater Manchester, Cheshire and Warrington (working title for ‘LSF2’). It is expected that the Fund Manager will bring both significant experience and knowledge of the venture capital funding market with specific expertise in life science investment in unlisted companies, and also an understanding of public sector sourced funding requirements. The Fund Manager will lead on the investment of the fund and how it will be managed to provide a long term sustainable model. The Fund manager will also be expected to raise further funding from the private sector for each investment it makes. The value of the Fund to be managed is likely to be between 20 000 000 GBP - 25 000 000 GBP. There is no maximum fund size and it is open to other participants. The contract will be placed with a Limited Partnership vehicle which is yet to be created. The various investor partners will take a limited partnership interest and the successful contractor will, probably through a subsidiary entity, be required to take on the General Partner role. Lot 1: North west