The Contracting Authority intends to purchase the services of a registered or authorized fund manager as an AIFM or who will register as an AIFM (Alternative Investment Fund Manager - "Fund Manager") in accordance with Directive 2011/61/EU (AIFMD), for the implementation of the Financial Instrument called 'Venture Capital Fund', financed through the 'Center Region' Program 2021-2027. The services that are the subject of the procurement are detailed in the specifications.

The Contracting Authority reserves the right to award the procurement contract based on the initial offers submitted by selected candidates, without negotiation, in accordance with the provisions of Article 82, paragraph (10) of Law 98/2016.

LOT-0000
Default lot.
The Contracting Authority intends to purchase the services of a registered or authorized fund manager as an AIFM or who will register as an AIFM (Alternative Investment Fund Manager - "Fund Manager") in accordance with Directive 2011/61/EU (AIFMD), for the implementation of the Financial Instrument called 'Venture Capital Fund', financed through the 'Center Region' Program 2021-2027.
The winning bidder (Fund Manager) will provide the services and carry out the activities, which are stated below and in the procurement contract and which will be performed in accordance with the provisions of the procurement contract and relevant applicable standards, as follows:
• preparing and implementing the necessary actions for the establishment of the Fund (AIF) with Venture Capital, in a jurisdiction of its choice within a member state of the European Union in accordance with the Applicable Law (including the Applicable Law for AIF), or will propose the use of an already established Alternative Investment Fund with Venture Capital (AIF) managed by the Fund Manager participating in the procedure, which meets the conditions of paragraph 6.9 of the specifications 'Establishment of the Fund/requirements for the existing Fund', and which will make investments through financial Products in eligible Final Beneficiaries from the Center Region of Romania;
• administering and managing the investment portfolio of the established Fund, as well as the risks associated with the investment portfolio, in accordance with the procurement contract, the Constitutive Documents of the Fund and the applicable legislation (including Directive 2011/61/EU);
• attracting Capital Commitments from Independent Private Investors at the Fund level and/or Co-investments at the Final Beneficiaries level (through co-investment schemes), depending on the nature of the bidder's proposal;
• identifying eligible Final Beneficiaries and eligible Investments, and assessing compliance with the eligibility requirements by the Final Beneficiaries and eligible Investments, including through conducting analyses regarding the permissible purpose of the Investment, the potential economic viability of the Investment, etc., according to the provisions of the procurement contract;
• structuring, negotiating, and making eligible Investments of the Fund in Final Beneficiaries, in accordance with the investment strategy, the business plan attached to the procurement contract;
• monitoring and evaluating the periodic performance (corresponding to reporting periods) of the Companies in the Fund's portfolio where Investments in financial Products have been made, establishing and monitoring the achievement of results and key indicators, including providing assistance and managerial support to Final Beneficiaries regarding their business growth strategy to maximize their profits, making Follow-on Investments (if applicable), managing underperforming Investments, etc.;
• finalizing Investments in accordance with the Investment Strategy, the Investment Exit strategy, and the business plan attached to the procurement contract;
• making relevant distributions to the Fund Investors according to the provisions of the procurement contract and the Constitutive Documents of the Fund;
• organizing the liquidation of the Fund/the compartment of the Fund, after its duration expires or the termination of the procurement contract for other reasons, while complying with the diligence specified by Directive 2011/61/EU and the applicable AIF and AIF legislation, in accordance with the provisions stipulated in the procurement contract.
• any other services arising from the necessity to fulfill the tasks and responsibilities of the Fund Manager resulting from the procurement contract and the applicable legislation (including those from Directive 2011/61/EU).
The bidder declared the winner following the award procedure, after signing the procurement contract, will be responsible for submitting a funding application, in the MySMIS2021/SMIS2021+ information system, within a project call to be launched by the Management Authority for the 'Center Region' Program 2021-2027, under the conditions for accessing funds and complying with the requirements set out in the Applicant's Guide regarding the take-up of the Fund Management Services Procurement Contract, according to the Instruction for completing the funding application MySMIS/SMIS2021+, in Annex 15 of the procurement contract.
After the approval of the funding application through MySMIS2021/SMIS2021+, the Contracting Authority will upload the signed procurement contract with the winning bidder (which includes all elements of the funding agreement mentioned in Regulation (EU) No. 2021/1060, including Annex X of this Regulation), on the basis of which ADR Centru will engage the resources from the 'Center Region' Program 2021-2027 for the implementation of the Financial Instrument.
Thus, the Contracting Authority's obligation to make any Capital Commitments within the Fund will be conditional upon the signing of the procurement contract and the fulfillment of the preconditions mentioned in Clause 3.3, of the procurement contract, among which are: (i) submission of a funding application through the MySMIS2021/SMIS2021+ information system and compliance with the conditions stated in the applicant's guide for the applicable non-competitive project call; and (ii) completion of the Fund's first Closing, which will be carried out by the Fund Manager within the time specified in the procurement contract.