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The British Business Bank (the Bank) is a government-owned economic development bank that makes finance markets for smaller businesses work more effectively. Our mission is to drive economic growth by helping smaller businesses get the finance they need to start, scale and stay in the UK. In doing so, we help capture the economic value of innovation for the UK and create jobs and prosperity for people across the country. The Bank designs programmes that provide funds and guarantees to private sector partners, enabling them to finance a greater number of smaller businesses, either through debt or equity. It uses economic evidence so that its programmes address market failures affecting smaller businesses across the economy. It also works to improve smaller businesses’ awareness of the finance options available to them.
Nations and Regions Investments Limited (NRIL) is a wholly owned subsidiary of the British Business Bank that manages a number of investment schemes for the Department for Business and Trade (DBT), including the proposed South East Investment Fund (SEIF) and East of England Investment Fund (EEIF). NRIL is the Contracting Authority for this procurement.
In the 2025 Spending Review, the Government announced an extension of the Nations and Regions Investment Funds (NRIF) programme to include £350m to be made available for the South East and the East of England regions. The funds are to be allocated according to the following split:
Within each region the funding will be split into two sub-funds: one for Equity (approximately 60% - offering early stage and later stage equity investments up to £5m); and one for Debt (approximately 40% - offering business loans of between £25,000 and £2m). A proportion of each fund will be held back (“Investor Reserve”) and may be added as additional funding (“Additional Allocation”) depending on circumstances and particular factors. Tenderers are expected to have some regional experience and a track record of funding viable Small and Medium Enterprises (SMEs) that are looking to grow. Tenderers should be aligned to the Programme Objectives, that the funds will:
It is expected that NRIL will begin making investment commitments to the SEIF and EEIF Fund Managers in Summer 2026. The duration of the Contract Services will be:
| Supplier | Identifier | Award Value | Lots Won | Cross-References |
|---|---|---|---|---|
| Beechbrook Capital LLP | OC337678 | £10,000,000 | 1 lot East of England Investment Fund - Debt | - |
| FSE Fund Managers Ltd | 05644712 | £13,000,000 | 1 lot South East Investment Fund - Debt | - |
| Maven Capital Partners UK LLP | OC339387 | £17,000,000 | 1 lot South East Investment Fund - Equity | - |
| Mercia Regional Investments Ltd | 03249066 | £12,000,000 | 1 lot East of England Investment Fund - Equity | - |
Taken from this notice, not from Companies House. Check the original notice — details change and are not updated here.
This procurement was divided into 4 lots, each awarded separately. 10 bids were received in total.
| Lot | Value | Bids Received | Awarded To | Status |
|---|---|---|---|---|
| Lot 1 South East Investment Fund - Equity Jul 2026 – Jun 2036 | £17,000,000 | 3 | pending | |
| Lot 2 South East Investment Fund - Debt Jul 2026 – Jun 2036 | £13,000,000 | 2 | pending | |
| Lot 3 East of England Investment Fund - Equity Jul 2026 – Jun 2036 | £12,000,000 | 4 | pending | |
| Lot 4 East of England Investment Fund - Debt Jul 2026 – Jun 2036 | £10,000,000 | 1 single bid — no competition | pending |
Notices published under the Procurement Act 2023 name every bidder, including unsuccessful ones.
| Bidder | Bid on | Outcome |
|---|---|---|
| Beechbrook Capital LLP | Lot 4 | Wonlot 4 |
| FSE Fund Managers Ltd | Lot 2 | Wonlot 2 |
| Maven Capital Partners UK LLP | Lot 1 | Wonlot 1 |
| Mercia Regional Investments Ltd | Lot 3 | Wonlot 3 |