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Contract awardedAngel investment fund

Procurement of Fund Management Services for North East Mezzanine and Loan Fund

Management of a £35m SME investment fund focused on the North East of England. The fund requires 80% deployment via amortizing debt instruments, with the remainder available for equity positions. The manager must handle smaller loans averaging £70k to support organic growth, alongside larger mezzanine and quasi-equity investments, over a long-term patient capital lifecycle including an initial 5-year investment period and a subsequent 10-year realisation phase.

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Awarded value
£4.1m
As published
Published
22 October 2024
Awarded
15 October 2025
FW Capital Limited
Contract length
300 months
Ends 16 October 2050

What the contract covers

Fund management services contract

Provision of professional fund management services for regional SME investment funds, including debt-based financing and mezzanine or quasi-equity investment.

  • Deliver and manage an SME investment fund making predominantly debt-based investments in revenue-generating SMEs based in the North East of England
  • Provide unsecured loans and mezzanine / quasi-equity investment to North East SMEs
  • Deploy at least 80% of the Fund’s investment by value via amortizing debt instruments
  • Complete smaller loans averaging £70k for SMEs seeking modest organic growth, including loans with a possible short capital repayment holiday
  • Take equity positions where appropriate in companies with high growth potential

Terms and requirements

Contract type
Fund management services contract
Initial term
120 months
Extensions
180 months
Longest it can run
300 months
Contract dates
15 October 2025 to 16 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 FW Capital Limited
  3. Contract starts
  4. Contract ends
The buyer

The North East Fund Limited

Type
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The supplier

FW Capital Limited

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Cite this contract

Link
https://bidskim.com/tender/882967/procurement-of-fund-management-services-for-north-east-mezzanine-and-loan-fund
Buyer reference
TNEFL/2024/03
Last checked
5 November 2026

The North East Fund Limited. Procurement of Fund Management Services for North East Mezzanine and Loan Fund. Contract award, 22 October 2024. BidSkim, https://bidskim.com/tender/882967/procurement-of-fund-management-services-for-north-east-mezzanine-and-loan-fund (accessed 5 November 2026).