Invest Northern Ireland – Development Fund

Tender description

Invest 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 £450,000 to £2 million (subject to EU State aid approval). A £30 million fund is proposed with a commitment from Invest NI of the lesser of 33 1/3% or £10 million on a subordinated basis and the fund manager raising £20 million 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). Tender documents can be obtained electronically for registered users of Central Procurement Directorate’s e-sourcing system, e-sourcing NI. If you are not already registered to use e-sourcing NI and wish to obtain these documents please register at www.e-sourcingni.bravosolution.co.uk and follow the link to the current opportunities page.