DfE Invest NI - Successor pre seed and seed fund and Proof of Concept grant fund

Invest Northern Ireland
Northern Ireland
7 March 2025 to 8 March 2035

Management of a £48m pre-seed and seed equity fund via Limited Partnership and Management Service Agreements, alongside a £7.2m Proof of Concept grant fund. The equity fund operates for an initial 10-year term with a 5-year extension option for orderly exit, while the grant fund operates for a 6-year term. Services include investment deployment in ordinary or preference shares, marketing, venture capital development, and stakeholder engagement.

Open the official notice

Awarded value: £10.3m; As published
Published: 10 January 2025
Awarded: 7 March 2025; Techstart Ventures LLP
Contract length: 120 months; Ends 8 March 2035

What the contract covers

Services contract

Provision of professional fund management services for equity investment and grant administration programmes within the Northern Ireland market.

Management of a Successor pre seed and seed equity fund undertaking a total investment of £48m in the NI market through equity securities, mainly ordinary shares but potentially preference shares or instruments convertible into ordinary or preference shares.
Management of a Proof of Concept (POC) grant fund undertaking total investment of £7.2m in the NI market.

Terms and requirements

Contract type: Services contract
Initial term: 120 months
Extensions: 60 months
Longest it can run: 180 months
Contract dates: 7 March 2025 to 8 March 2035
Certifications asked for: None stated
Lots: 1
Suitable for SMEs: Not stated
Category: Services
CPV codes: 66000000, 66100000, 66120000, 66122000

Services in this contract

Business finance fund managementMain service£60k typicalManage pre-seed and seed equity fund for Invest NI
Grant scheme administration, appraisal and monitoring£104k typicalSeparate Proof of Concept grant fund under its own agreement

Lifecycle

Published
10 January 2025
Contract awardedto Techstart Ventures LLP
7 March 2025
Contract starts
7 March 2025
Contract ends
8 March 2035

The buyer

Invest Northern Ireland

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The supplier

Techstart Ventures LLP

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Main buyers

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Cite this contract

Link: https://bidskim.com/tender/1737183/dfe-invest-ni-successor-pre-seed-and-seed-fund-and-proof-of-concept-grant-fund
Buyer reference: ID 5408838
Last checked: 5 November 2026

Invest Northern Ireland. DfE Invest NI - Successor pre seed and seed fund and Proof of Concept grant fund. Contract award, 10 January 2025. BidSkim, https://bidskim.com/tender/1737183/dfe-invest-ni-successor-pre-seed-and-seed-fund-and-proof-of-concept-grant-fund (accessed 5 November 2026).