Fund Manager for the Investment in Digital and Creative Enterprises (Idice) Program

• Country: Nigeria
• Summary: Fund Manager for the Investment in Digital and Creative Enterprises (Idice) Program
• NGT Ref No: 82541656
• Deadline: 18 May 2023
• Financier: African Development Bank (AfDB)
• Purchaser Ownership: Government
• Tender Value: Refer Document
• Notice Type: Tender
• Document Ref. No.: 2000200005160
• Purchaser's Detail:
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• Description:
• Expression of Interest are invited for Fund Manager for the Investment in Digital and Creative Enterprises (Idice) Program” The services included under this project include designing, establishing and managing of specific equity fund vehicles targeted at innovative businesses primarily in the technology / tech-enabled and creative sectors. The Fund Managers will be expected to invest in Nigerian businesses at their early to growth stages. The Fund shall be deployed as three separate fund entities as follows: - 1. A Technology Sector Fund; 2. A Creative Sector Fund; 3. A Fund of Funds that will cover indirect investments in both the technology and creative sectors The expected investment period is four years with follow on investments thereafter. The life of the funds will be 10 years (extendable 2 years) for both the Technology Sector Fund and the Creative Sector Fund while it will be 15 years for the Fund of Funds. The Fund Manager(s)-s assignment will include but not be limited to: 1. Design and set-up of the fund including legal, operational, financial, exit and reporting structure. 2. Establishment of the investment strategy (including prospective nationwide geographic coverage) for fund through deal pipeline. 3. Deal sourcing and identification of an eligible and realistic pipeline. 4. Deployment of robust due diligence procedures. 5. Deal structuring and negotiations. 6. Preparation of the fund-s financial, governance, operational policies, performance management strategy, communication plan as well as other relevant documentation for fund operation. 7. Fund raising (including the preparation of private placement memorandum, pitch books and other marketing materials). 8. Investor management activities including the management of committed capital The services included under this project include designing, establishing and managing of specific equity fund vehicles targeted at innovative businesses primarily in the technology / tech-enabled and creative sectors. The Fund Managers will be expected to invest in Nigerian businesses at their early to growth stages. The Fund shall be deployed as three separate fund entities as follows: - 1. A Technology Sector Fund; 2. A Creative Sector Fund; 3. A Fund of Funds that will cover indirect investments in both the technology and creative sectors The expected investment period is four years with follow on investments thereafter. The life of the funds will be 10 years (extendable 2 years) for both the Technology Sector Fund and the Creative Sector Fund while it will be 15 years for the Fund of Funds. The Fund Manager(s)-s assignment will include but not be limited to: 1. Design and set-up of the fund including legal, operational, financial, exit and reporting structure. 2. Establishment of the investment strategy (including prospective nationwide geographic coverage) for fund through deal pipeline. 3. Deal sourcing and identification of an eligible and realistic pipeline. 4. Deployment of robust due diligence procedures. 5. Deal structuring and negotiations. 6. Preparation of the fund-s financial, governance, operational policies, performance management strategy, communication plan as well as other relevant documentation for fund operation. 7. Fund raising (including the preparation of private placement memorandum, pitch books and other marketing materials). 8. Investor management activities including the management of committed capital Interested firms may obtain further information at the address below during office hours [8 am-5 pm]. Expressions of interest, indicating the Fund Entity of interest, should be delivered in both hard and soft copy to the address below by 18th May, 2023 at 12 noon and mention “EXPRESSION OF INTEREST: FUND MANAGER FOR THE INVESTMENT IN DIGITAL AND CREATIVE ENTERPRISES (iDICE) PROGRAM”. The iDICE Programme Coordination Unit Bank of Industry 23, Marina Lagos Email: idice-proposals@boi.ng Tel: 0700 225 5264 (0700 CALL BOI)
• Documents:

 Tender Notice