Contract notice: Financial management consultancy services Tender, Norway - 31569905

Procurement Summary

Country : Norway

Summary : Contract notice: Financial management consultancy services

Deadline : 12 Apr 2019

Other Information

Notice Type : Tender

TOT Ref.No.: 31569905

Document Ref. No. : 123535-2019

Competition : ICB

Financier : Self Financed

Purchaser Ownership : -

Tender Value : Refer Document

Purchaser's Detail

Purchaser : INNOVASJON NORGE
Office Name: Innovasjon Norge
Address: Akersgata 13
Town: Oslo
Postal Code: 0158
Contact Point: Anne-Berit Østby Urke
Norway
Email :anne-berit.ostby.urke@innovasjonnorge.no
URL :https://permalink.mercell.com/101813684.aspx

Tender Details

Object of the contract
Financial management consultancy services

Description: Contract notice: Financial management consultancy services

Authority Type: Body governed by public law
Contact Nature: Services
Procedure: Competitive procedure with negotiation
Document: Contract notice
Regulation: European Economic Area (EEA), with participation by GPA countries
Award criteria: The most economic tender
CPV code: 79412000, 66160000, 66150000, 66171000, 79412000, 66160000, 66150000, 66171000
CPV Description: Financial management consultancy services.

Trust and custody services.

Financial markets administration services.

Financial consultancy services.

Establishment of a Nationwide Seed Fund — Consultancy and Management Environment

Reference Number : 2019/103968

The procurement is based on the draft resolution 85 S (2017-2018), Report 400 S(2017-2018) and Naerings- og fiskeridepartementets (NFD's) [the Ministry of Trade, Industry and Fisheries] supplementary letter of assignment to nnovasjon Norge [Innovation Norway], dated 7.11.2018.

Innovasjon Norge manages the government's capital contribution in 3 seed fund schemes. Since 1998, the State has contributed loan capital to 15 seed funds in three so-called waves. In the last wave (2014), the state contributed equity capital to four funds that are all privately owned and operated. These four funds have committed capital of 1 600 000 000 NOK kroner. An additional co-investment fund has been established with a capital base of 132 400 000 NOK. The last wave, with up to 6 funds, is a completion scheme and represents a unique tool in business development as it secures active owner competence, experience, network and engagement from private industry.

Goal setting:

The long term aim of the nationwide seed fund capital scheme is to support the establishment of innovative, international competitive growth companies in an early phase nationwide and thereby create growth and competence based jobs. This shall be done by increasing access to competent capital and competence and by building up and further developing good management environments.

Guidelines and terms:

Guidelines and terms have been prepared, regulating how the seed funds will operate. These guidelines and conditions are based on the EEA contract's rules on government subsidy and will ensure that the seed funds work towards achieving the objective of the seed capital scheme.

Investment phase, focus and direction:

The seed funds will be limited to undertake first time investments in small businesses [1] less than 5 years in seed grain and the start-up phase [2]. The businesses must be Norwegian, knowledge based and innovative companies with international growth potential. The funds must have the opportunity to invest a minor portion of the portfolio internationally. The seed funds' industry focus is based on the managers' competence. The management will occur on a commercial basis.

Previously, a nationwide seed fund was established in Trondheim, Oslo, Bergen and Agder/Telemark. Only one seed fund will be established in Oslo. This means that a new seed fund must be located outside of Oslo, prior to signing the contract. Oslo means Oslo municipality.

If the management company or other legal subjects that have been awarded assignments after 2012 for the management of nationwide seed funds, want to participate in this competition, participation must occur through another legal subject.

Total assets:

The seed funds must be large enough to safeguard competent and robust management of the resources. This means that the minimal management capital for the fund is 300 000 000 NOK, of which the government will participate with up to 150 000 000 NOK. As a rule, the fund must be closed for investors when the capital is committed. With minimum capital of 300 000 000 NOK, additional private capital acquisition will be possible through a new tranche soon after the first capital acquisition. Bank total assets must be financed as cash deposits in the form of equity with 50/50 distribution between private investors and the state. The private investors will have the opportunity to increase their share of the capital base beyond 150 000 000 NOK. Private capital must be equal to the state capital set aside from the subsidy element.

See the tender documents for further information.


Internet address (URL): https://permalink.mercell.com/101813684.aspx

Documents

 Tender Notice