Appointment of Co-Investors for the London Co-Investment Fund (LCIF).

Descriptions

The London Co-investment Fund (“LCIF”) is a new fund established by Funding London and Capital Enterprise with the aim of investing 23 000 000 GBP in London-based, seed stage companies in the Science, Digital and Technology sectors. The LCIF defines seed stage as very early stage companies where the proof of concept stage has been successfully concluded. The LCIF is financed by 25 000 000 GBP provided by the Mayor of London and the London Enterprise Panel from the Growing Places Fund and 1 700 000 GBP from Funding London and is managed by Funding London.The LCIF is a co-investment fund and operates by contracting with early stage investors including venture capital funds and angel syndicates.Since its launch in early December the LCIF has invested 1 500 000 GBP in 11 London-based, high-growth, early stage technology companies. LCIF investment has helped raise an aggregate of over 8 000 000 GBP in total investment commitments.Funding London is now seeking to broaden the reach of the LCIF across the target sectors through additional co-investment partners.We are seeking to competitively select up to three additional organisations to become co-investment partners with the LCIF. The selected partners will enter into co-investment agreements with the LCIF with an expected initial duration of two years. The co-investment agreement will set out the requirements for potential investee companies and the rights and obligations of the co-investment partners.The aims of the LCIF are as follows:— To invest 23 000 000 GBP into high-growth early stage Science, Digital and Technology businesses in London during a three-year period;— To achieve a target across the fund of 2.9 GBP of private sector investment for every 1 GBP invested by LCIF;— To generate approx. 2 653 jobs as a result of the investments being made; and— To maximise returns from exits to enable further investment in later years.The co-investment partners will be selected on the basis of their knowledge of, focus on and track record of investing in the Science, Digital and Technology sectors; deal volume and pipeline; and investment approach.A 'Meet the Buyers' event is being held at 10:00 on Thursday 4.6.2015 at IDEALondon, EC2A 2BB. Please confirm your intention to attend the event by emailing Cora Marler, Sweett Group (cora.marler@sweettgroup.com) no later than 22.5.2015.Note: To register your interest in this notice and obtain any additional information please visit the myTenders Web Site at http://www.myTenders.org/Search/Search_Switch.aspx?ID=153669The buyer has indicated that it will accept electronic responses to this notice via the Postbox facility. A user guide is available at http://www.myTenders.org/sitehelp/help_guides.aspxSuppliers are advised to allow adequate time for uploading documents and to dispatch the electronic response well in advance of the closing time to avoid any last minute problems.