Published on April 25, 2023

Market Engagement – Business Growth and Social Impact Investment Fund
They will incorporate the following areas in its delivery:
- Designing the fund in partnership with CPCA – undertaking market testing to test the assumptions made by the CPCA in developing the fund and make recommendations on the fund operation and financial modelling
- Promotion & Marketing of the fund
- Conducting Due Diligence assessments on applicants
- Issue loans, grants and equity investments
- Developing partnership to enhance existing relationships with the banks, accountants, capacity building organisations and other financial intermediaries located in the region
Financials The project will have £10million in total, comprising £9.5million Capital and £500,000 Revenue with two distinct categories of businesses being targeted, as follows:
- Fund 1 – 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 first priority sector for Fund 1 will be green-tech businesses. The fund will consist of c.£7.125m available over a 3-year investment period. Repayment terms will need to be discussed with the applicants The fund will provide equity investments or loans of between £100,000 to £500,000.
- Fund 2 – a fund aimed at providing grants or loans to third sector businesses that do not have access to funding from other sources. The fund will consist of c.£2.375m of funding available over a 3-year funding period, the funding is being offered as grants to maximum of £25,000 and loans between £10,000 – £75,000.
- Administration – to cover the 2 fund streams has been set at £500k for the 3 year investment period or until funds are expended. The Market Engagement event will provide interested delivery partners with the opportunity to engage with the Combined Authority’s project team as well as discussing the expectations of the delivery partner, the funding and delivery timeline.
To register your interest in attending this event, you will need to respond via the e-tendering portal with the names and email addresses of the attendees. Once this has been done, a link to the event will follow.
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