Established 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).
Further details:
ProContract – D2N2-0723 D2N2 Early Stage Angel Investment Fund (ESAIF) Fund Manager (due-north.com)
Contracts Finder – D2N2-0723 D2N2 Early Stage Angel Investment Fund (ESAIF) Fund Manager – Contracts Finder
Find a Tender Service – D2N2-0723 D2N2 Early Stage Angel Investment Fund (ESAIF) Fund Manager – Find a Tender (find-tender.service.gov.uk)
Timelines:
| Submission of questions and contract commentary by: | 17:00, Tuesday 22nd August |
| Response to questions and contract commentary by: | 17:00, Tuesday 29th August |
| Tender response by: | 17:00, Monday 11th September |
| *Initial evaluation by: | 21st September 2023 |
| *Due diligence meeting, if required: | Late September 2023 |
| *Due diligence checks (including audit and security checks) completed: | Early October 2023 |
| *Award of contract: | October 2023 |
| *Contract start date: | November 2023 |
For media enquiries, contact:
Nicola Swaney, Head of External Affairs, D2N2 LEP
