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Early Stage Investment Fund
Overview
Summary, notice description and lot information
The West Yorkshire Combined Authority is planning a procurement for a fund manager to oversee an Early Stage Investment Fund. This fund aims to invest in Health & Life Science and Digital Tech companies across West Yorkshire. The procurement process is currently in the planning phase, with an anticipated delivery start in Summer 2025.
The initial budget of £4M may increase to over £10M. The investment period is planned for the first four years, followed by six years of portfolio management. Key dates include a future notice expected on 1st September 2025.
This procurement falls under the services category and involves corporate finance and venture capital services, with additional classifications in IT services, research and development, and health and social work services. This tender presents significant opportunities for businesses specialising in early-stage investments and corporate finance services. Fund managers with experience in leveraging additional private and public sector funds, and those capable of securing deal flows in collaboration with Health Innovation Yorkshire & Humber, will find this contract particularly beneficial.
The focus on Health & Life Science and Digital Tech industries offers targeted growth opportunities for businesses operating in these sectors within West Yorkshire. The substantial budget and extended contract length suggest stable long-term engagement, making it an attractive proposition for well-suited businesses seeking to expand their portfolio in these industries.
*PIN ONLY* We are looking for a fund manager with experience in early-stage investments into Health & Life Science and Digital Tech companies across West Yorkshire. We expect our funds to be used to contribute between PS200k and PS500k to a pre-seed/early-seed deal, with the ability to bring in leverage, either via other private sector funds, or via public sector funds such as the Northern Powerhouse Investment Fund. The fund manager will work closely with our accelerator partner (Health Innovation Yorkshire & Humber) to secure deal flow. The fund manager will not be expected to make follow-on investments. Anticipated tender timings: We are aiming to go into delivery in Summer 2025 Anticipated contract length: It's envisaged that the first four years would be the investment period, followed by six years of portfolio management. Estimated budget: PS4M is confirmed currently, but we are looking to get the budget north of PS10M. This will be confirmed in due course.
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The Open Contracting Data Standard (OCDS) is a framework designed to increase transparency and access to public procurement data in the public sector.
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