The subject of the public procurement procedure is the purchase of administration and management services for the Venture Capital Investment Fund and for the implementation of the Financial Instrument Venture Capital funded by the Regional Program West 2021-2027 - CPV 66140000-3 Portfolio Management Services.
Through the implementation of the Financial Instrument Venture Capital, AM PR Vest aims to:
- develop the institutional and financing framework to facilitate the emergence of a unicorn in the West Region,
- support high-potential businesses with high added-value products and services,
- change the economic structure of the West Region towards a significant increase in the number of companies producing high added-value products and services,
- create an attractive regional business environment for investors.
The Financial Instrument Venture Capital is implemented considering the following considerations:
a. For the selection of SMEs that can be financed, a process of identification of these in all counties of the West Region is necessary.
b. The purpose of the Financial Instrument Venture Capital is to provide funding through capital and/or quasi-capital from the established Fund, to SMEs that have surpassed the early development stage and have potential for long-term growth, with a view to increasing their potential profitability and selling their holdings at a higher value.
c. The Fund Administrator will provide financing, along with technical and managerial support to SMEs after the financing.
Number of days until which clarifications can be requested before the deadline for submitting offers/candidacies: 19. Clarifications will be sent by email to Roxana.Meszaros@adrvest.ro. The contracting authority will respond, also by email, clearly and completely to all requests for clarification/additional information made within the time frame specified in the participation announcement, on the 12th day before the deadline for submitting offers.
LOT-0000
Default lot.
The declared winning bidder will perform the following services:
a. will be responsible for submitting a funding request in the MySMIS2021/SMIS2021+ information system, within the project call that will be launched by the Management Authority for PR Vest (AM PR Vest) for the Regional Intervention IR 1.3.E Financial Instruments, under the conditions for accessing funds as provided in the Funding Applicant's Guide for the Financial Instrument Venture Capital.
b. will establish and obtain authorization or registration of the Alternative Investment Fund of venture capital (AIF) in Romania or in a member state of the European Union according to applicable national legislation
c. will ensure the management of the AIF
d. will ensure the own contribution of the AIF to the AIF
e. will attract funds from independent private investors so that the financing at the level of the supported enterprises does not fall under state aid
f. will implement the Financial Instrument Venture Capital:
i. will identify eligible SMEs and analyze their potential economic viability;
ii. will realize the financing of eligible SMEs and will agree on their financing conditions, in accordance with the Investment Strategy and the Funding Agreement agreed with AM PR Vest;
iii. will ensure monitoring and control of the performance of the SMEs in which investments have been made;
iv. will be responsible for supporting the funded SMEs in order to increase their performance and implicitly that of the managed Fund;
v. will propose solutions in case the development of the SMEs in which investments have been made is below expectations;
vi. will support SMEs in achieving exits from investments (exit), in accordance with the investment strategy, exit strategy, Funding Agreement;
vii. will distribute the amounts repaid from investments to Investors;
viii. will organize the liquidation of the Fund after the specified term, with the care of a good merchant (i.e., in an organized and responsible manner), in accordance with the requirements of the Funding Agreement;
ix. will support the development of a business environment based on venture capital investments that allows the development of entrepreneurship in the West Region, networking, idea exchange, constant access for SMEs to relevant information and strategic partnerships.
g. will carry out timely reporting, according to the requirements of the Funding Agreement;
h. will ensure publicity, information, and communication necessary regarding the activity of the Financial Instrument Venture Capital.
The manner of administering the Fund's activity will be agreed upon by concluding a Funding Agreement.
Conclusion of the Funding Agreement will occur after the submission and acceptance of the funding request through the electronic system MySMIS2021/SMIS2021+.
The Funding Agreement will be concluded in accordance with Romanian legislation and in the Romanian language.
The provider will have the obligation to ensure good collaboration with the Management Authority for PR Vest, which will designate a representative who will fulfill the following duties (operational oversight):
- Periodically evaluate progress, identify bottlenecks, and report to AM/Investor Assembly;
- Ensure support for meeting legal, regulatory, and ethical requirements;
- Provide support related to stakeholder connections;
- Assist in resolving operational challenges.
The duration of the contract is 55 months, but no later than December 31, 2029.