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Contract awardedAngel investment fund

Fund Management Services for North East Early Stage Equity Fund

Management of a £35m initial venture capital fund with a patient capital approach, involving a 5-year initial investment period followed by further investment and realisation phases. The service requires FCA authorisation to deliver regional SME finance, with potential for ongoing annual capital commitments of £3m-£6m to support portfolio growth and exits over a total potential duration of 25 years.

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Awarded value
£6.6m
As published
Published
22 October 2024
Awarded
20 October 2025
Mercia Regional Ventures Limited
Contract length
300 months
Ends 21 October 2050

What the contract covers

Fund management services contract

Provision of professional fund management services for early-stage venture capital investment programmes targeting innovative SMEs in the North East.

  • Deliver and manage an early stage venture capital fund in the North East of England
  • Provide finance to early-stage and innovative SMEs in the North East of England
  • Manage new and follow-on investments, portfolio investments and the realisation period
  • Utilise further annual investment capital commitments expected to average between £3m and £6m during further investment periods

Terms and requirements

Contract type
Fund management services contract
Initial term
120 months
Extensions
180 months
Longest it can run
300 months
Contract dates
20 October 2025 to 21 October 2050
Certifications asked for
FCA authorised
Lots
1
Suitable for SMEs
Not stated
Category
Services
CPV codes
66100000, 66122000

Services in this contract

Lifecycle

  1. Published
  2. Contract awardedto Mercia Regional Ventures Limited
  3. Contract starts
  4. Contract ends
The buyer

The North East Fund Limited

Type
Locked
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Recorded value
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Typical contract
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Contact details
Name
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Email
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Phone
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Address
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The supplier

Mercia Regional Ventures Limited

Contracts won, 24 months
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Value won, 24 months
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Cite this contract

Link
https://bidskim.com/tender/882965/fund-management-services-for-north-east-early-stage-equity-fund
Buyer reference
TNEFL/2024/2
Last checked
5 November 2026

The North East Fund Limited. Fund Management Services for North East Early Stage Equity Fund. Contract award, 22 October 2024. BidSkim, https://bidskim.com/tender/882965/fund-management-services-for-north-east-early-stage-equity-fund (accessed 5 November 2026).