Liverpool City Region Seed Fund: Fund Manager

Liverpool City Region Combined Authority: Liverpool City Region Seed Fund

Background:

Led by the Metro Mayor, Steve Rotheram, the Combined Authority has prioritised innovation, enterprise and entrepreneurship to drive economic growth and create high value jobs. Liverpool City Region is backing innovators with great ideas and world-class products – turning them into high-growth businesses that offer quality jobs and add to UK plc’s bottom line.

Liverpool City Region has one of the UK’s most developed place-based innovation eco-systems. However, despite high business birth rates, Liverpool City Region has relatively low levels of high growth enterprises. This is in part due to a lack of finance at the crucial seed stage of investment. Research commissioned by Liverpool City Region Combined Authority indicates that ‘providers of Seed Fund investment in Liverpool City Region are limited’ despite a strong pipeline of demand.

Liverpool City Region Combined Authority has committed to investing in the LCR Seed Fund. The Combined Authority is leading on the procurement and selection of a Fund Manager. This forms part of a wider programme of activity to stimulate the growth of early-stage businesses with high-growth potential.

The Liverpool City Region Seed Fund will invest in businesses with high growth potential in return for equity stake. The Fund will focus on investment opportunities in the Liverpool City Region clusters of opportunity.

• Advanced Manufacturing
• Health and Life Sciences
• Digital and Creative

The CA will be the founding partner in the Seed Fund and provide a commitment of £10m. There is an ambition to leverage additional private investment to maximise the impacts of the Fund.

Brief Description of Requirement:

The CA will be conducting a tender exercise to seek a high-quality Fund Manager able to meet the objectives of the Fund. This will include consideration of the scale of Fund, options to leverage additional investment and proposals to embed activity in the Liverpool City Region Innovation Eco-System.

Expressions of Interest:

At this time LCRCA is seeking to make the market aware of the opportunity and we welcome interested parties to respond with an expression of interest to this notice by emailing [email protected] and [email protected].

Deadline 18.00 7th March