Open tenders / Legal, finance & audit
Open tender · Notice 095775-2026
The Provision of Investment Management Services for the Scottish Universities Fund Ignition Strategy
Scottish National Investment Bank
- Value
- £6.5m
- Closes
- 10 Nov 2026 (2 days)
- Where
- Scotland
- Lots
- 1
- Suitable for SMEs
- Not stated
- Contract
- Not stated
In plain English
Scottish National Investment Bank wants to appoint an authorised investment management firm to set up and run a £15 million segregated investment mandate, delivering the Scottish Universities Ignition Fund Strategy to support university-spinout companies across Scotland. This is part of a broader £6,500,000 estimated investment platform, with the Bank acting as sole investor and bids open under the open procedure until 10 November 2026.
Good fit for: Authorised investment management firms with experience running segregated venture or growth investment mandates, ideally with university spinout or early-stage company expertise.
- Must be an authorised investment manager
suitably qualified and authorised investment management firms
- Must set up and operate an investment vehicle
establish and operate an appropriate investment vehicle through which the Mandate will be delivered
Written with AI from the official notice. Check the notice before relying on it.
What the buyer says
The Bank is seeking proposals from suitably qualified and authorised investment management firms to establish and manage a 15 million GBP segregated investment mandate for the delivery of the Scottish Universities Ignition Fund Strategy ("the Mandate"). The successful bidder will be expected to establish and operate an appropriate investment vehicle through which the Mandate will be delivered, with the Bank acting as the sole investor. The Mandate forms one of two complementary investment strategies within the Scottish Universities Fund ("SUF"), a broader investment platform designed to support the creation, growth and long-term scaling of university-originated companies in Scotland. The purpose of this Invitation to Tender (ITT) is to appoint an investment manager with delegated discretion to manage the Mandate in accordance with an agreed Investment Management Contract and the requirements set out in this ITT.
Getting the documents
publiccontractsscotland.gov.uk (free to register, then register your interest in this notice).
Procedure: Open procedure (Open: anyone can bid, in one stage). Published 9 Oct 2026.
What similar contracts went for
Similar contracts went for £10m to £17m (4 since 2026; 4 won by small firms).
| Contract | Won by | Value | Awarded |
|---|---|---|---|
| East of England Investment Fund - Debt British Business Bank | Beechbrook Capital LLP SME | £10m | 30 Apr |
| East of England Investment Fund - Equity British Business Bank | Mercia Regional Investments Ltd SME | £12m | 28 Apr |
| South East Investment Fund - Equity British Business Bank | Maven Capital Partners UK LLP SME | £17m | 28 Apr |
| South East Investment Fund - Debt British Business Bank | FSE Fund Managers Ltd SME | £13m | 23 Apr |
From the award notices on Find a Tender and Public Contracts Scotland. Values are as each notice states them and cover the contract's whole term: most notices give the value before VAT, but about one in seven gives only a figure including VAT. AI picked these as the same kind of work and can be wrong, so check what each one included before you price.
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