D2N2 search for service provider to establish an Early Stage Angel Investment Fund

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:

For media enquiries, contact:

Nicola Swaney, Head of External Affairs, D2N2 LEP

nicola.swaney@d2n2lep.org