Competition with a shortlist
Competitive procedure with a selection stage: suppliers were shortlisted before being invited to bid.
Key facts
- Buyer
- The North East Fund Limited · Company owned by Local Authorities
- Supplier
- Mercia Regional Ventures Limited
- Value
- £6,570,000
- Procedure
- Competitive procedure with negotiation
- Sector
- Financial & insurance services · Corporate finance and venture capital services (CPV 66122000)
- Region
- North East
- Official notice
- 025740-2026 on Find a Tender
- Timeline
-
- Contract date20 Oct 2025
- Published20 Mar 2026Published 151 days after the contract date
Description
The procurement process was conducted in accordance with the Public Contracts Regulations 2015 (as amended), using the Competitive Procedure with Negotiation as detailed in Regulation 29 of those Regulations. The Purpose of the procurement was to procure the services of a single FCA regulated fund manager. The contract has an initial duration of 10 years but can be extended by up to a further 15 years, to 25 years in total. The contract value stated in this Contract Award Notice is based on the initial 10 year period and the actual amount paid during that period may vary depending on the overall quantum of capital ultimately committed to the fund and on the profile of exits from, and impairments to, portfolio companies.
About the supplier
Mercia Regional Ventures Limited: every public contract they have won, plus their Companies House record (company 03249066).