Official UK procurement notice
D2N2-0723 D2N2 Early Stage Angel Investment Fund (ESAIF) Fund Manager
Authority: D2N2 Local Enterprise Partnership
What is being bought
Published requirement descriptionEstablished 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).
CPV: Financial and insurance services
The lotProcurement structure
single lot · no lot value publishedLot #1Awarded
What it takes to wini
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Evaluation split and conditions of participation as published; the tender pack may add morei
How this buyer will score bids.
The evaluation criteria and weights exactly as published on the notice, grouped by family (price, quality, social value and so on).
Published sub-criteria (2)
- Quality: 80%
- Cost: 20%
Published award criteria (2)
- Quality: 80
- Cost: 20
- Suitability
Bidders must be authorised by the Financial Conduct Authority (FCA) to undertake regulated activities.
- Staff
- Names and qualifications of delivery staff must be submitted
- Price carries 20 of 100 points: a 10% discount moves about 2 points. The method statement decides this lot, not the discount.
Price arithmetic assumes straight proportional scoring; the tender pack may use another formula.
Procedure terms & legal framework
From the official record · publisher note attached- Procedure method
- Open procedure
- Legal basis
- CELEX · 32014L0024 Public Contracts Regulations 2015 (Directive 2014/24/EU)
- Procurement category
- Services
- Notice status
- Awarded
- Procurement threshold
- Unspecified in notice
- Regulatory regime
- Standard
- Commercial structure
- Stand-alone contract (no framework)
- Competition type
- Competitive procedure
- GPA / WTO covered
- Yes (GPA)
- Recurring procurement
- No (one-off requirement)
- First published
- 9 Aug 2023, 10:09 BST
- Last source update
- 24 Sept 2024, 10:36 BST
- Award evaluation window
- 11 Sept 2023 – …
- Authority reference
DN683649- FTS notice number
2024/S 000-030438- Classification (CPV)
- Delivery area
- Official registry OCID
ocds-h6vhtk-03ee2aFind a Tender
- Performance terms
As detailed in Appendix F - Proposed Limited Partnership Agreement and Appendix G - Proposed Fund Management Agreement.
- Review procedure
Deadline is two years.
Publisher note: Any contract or agreement resulting from any invitation to tender will be considered as a contract made in England according to English Law and subject to the exclusive jurisdiction of the English courts. The Freedom of Information Act 2000 imposes a statutory obligation on public bodies to disclose information they are holding. Tenderers should be aware of the Authority's obligations under the Act, whereby information provided by tenderers in response to this advertisement may be requested by a third party. The Authority does not bind itself to accept any tender. The Authority expressly reserves the right: (i) to make whatever changes it may see fit to the content and structure of the procurement process; (ii) to require further information or clarification from a tenderer before considering its response; (iii) to exclude a tenderer from the procurement process if it is subsequently determined that any information supplied by that tenderer was inaccurate, incomplete or untrue and was relied upon for selection purposes; (iv) to cancel this procurement at any stage; and (v) not to award any Contract as a result of the procurement process commenced by publication of this notice. Neither the Authority nor any of its advisers shall be liable for any costs or expenses borne by any tenderer or any of its advisers in responding to this contract notice or at any stage in the procurement process to the extent permitted by law. Instructions This should include specific instructions for responding to the notice. To register your interest in this notice and obtain any additional information please visit the East Midlands Tenders - https://www.eastmidstenders.org/ Suppliers are advised to allow adequate time for uploading documents and to dispatch the electronic response well in advance of the closing time to avoid any last minute problems.
How it was run
Official notice- Submission deadline
- 11 Sept 2023, 17:00 BST
- Submission channel
- {"electronicSubmission"}
- Accepted languages
- en
- Bid validity
- 90 days from the deadline
- Bids opened
- 11 Sept 2023, 17:00 BST
Timeline
11 Sept 2023 → 24 Sept 2024 · 3 dates- Submission deadline11 Sept 2023, 17:00 BST
- Bids opened11 Sept 2023, 17:00 BST
- Notice published24 Sept 2024, 10:36 BST
Notice history
1 event · 2 releases on Find a Tender- Status changed to complete24 Sept 2024, 10:36 BST
Commercial outcome & contract awards
Published awards, contracts and bid statistics, not a forecast| Awarded to | Value | Date | Status |
|---|---|---|---|
| Haatch Ventures LLPSME | £340,000 † | — | Awarded |
Contracts
Contract 030438-2024-1 · Haatch Ventures LLPSME
- Signed
- 1 May 2024
- Value
- £340,000
- Status
- active
Bid statistics published by the authority
| Bids | SME | VCSE | Valid bid range |
|---|---|---|---|
| 3bids | — | — | — |
Contracting authority & participating public bodies
Dispute resolution & review bodies
- Public Procurement Review ServiceReview body
- Royal Courts of JusticeReview contact point
Bidders & participating suppliers
1 commercial party on the notice- Haatch Ventures LLPAwarded supplier
Official documents & specifications
Official links; attachments are not copiedNo document links were published on the notice.