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The Cambridgeshire and Peterborough Combined Authority (CPCA) is awarding two contracts to manage funding schemes, Fund 1 and Fund 2. The authority required delivery partners to manage both funds under two separate contracts. The term of the contracts will be 3 years plus an optional further year’s extension.
The fund's lifetime will be 10 years, with 3–4 years of investment and 6–7 years of realisation. This includes an annual review of the programme after the completion of the contract. The advice retainer will mirror this arrangement in terms of being available to the CPCA for a 10-year period.
The funding schemes are:
Fund 1 is a growth fund aimed at providing equity or debt funding to high-growth potential businesses that do not have access to funding from other sources. The priority sector will be green-tech businesses, plus businesses that want to invest in reducing their carbon emissions with equity investment and loans of £100,000-£500,000 to support business growth.
Fund 2: a fund aimed at providing grants or loans to third-sector businesses that do not have access to funding from other sources. This will consist of smaller loans or grants of less than £75,000 to support third-sector businesses and organisations.
| Supplier | Identifier | Award Value | Lots Won | Cross-References |
|---|---|---|---|---|
| Allia Future Business Centre | 11559170 | ~£128,750 estimated from lot values | 1 lot Fund 2 | - |
| The FSE Group | - | ~£371,250 estimated from lot values | 1 lot Fund 1 | - |
This procurement was divided into 2 lots, each awarded separately. 6 bids were received in total.
| Lot | Value | Bids Received | Awarded To | Status |
|---|---|---|---|---|
| Lot 1 Fund 1 Jan 2024 – Jan 2027 | £371,250 £356,010 initial term | 3 | The FSE Group | active |
| Lot 2 Fund 2 Jan 2024 – Jan 2027 | £128,750 £144,000 initial term | 3 | Allia Future Business Centre | active |
Weightings from the notice, applied to every lot.
Government spending data: These suppliers have received £2,146 in 1 payments (over £25k) from Cambridgeshire Constabulary (2024-01-18 to 2024-01-18).
Published by the buyer on this notice. Details change and are not updated here.