Request for Qualifications - Venture Capital Fund Managers

This RFQ closed on April 3, 2009.  The Renaissance Fund is now evaluating submissions.

The B.C. Renaissance Capital Fund Ltd. is pleased to issue a Request for Qualifications, effective March 13, 2009, to identify qualified and experienced investment professionals who can provide top-tier venture capital fund management services.

The Renaissance Fund was formally launched in Vancouver in April 2008. It has already invested some of its capital with several professional venture capital fund managers who were selected as a result of a similar RFQ that was issued in 2007 and culminated in 2008. This RFQ is a continuation of that initiative.

Through this RFQ, the Renaissance Fund expects to select up to three fund managers to invest and manage, in aggregate, up to $55 million of capital committed from the fund.

The aim of this venture capital initiative is to stimulate both the quantity and quality of venture capital under management in the B.C. market. The Renaissance Fund seeks fund managers who will pursue an effective strategy for investing in B.C. companies.

RFQ applicants will also be required to demonstrate:

• A track record of success in finding, investing, and creating value in technology companies in one or more of the following key sectors: information technology, new media, and clean technology.
• Experience and understanding of local B.C. market sectors.
• Support in implementing successful strategies for portfolio companies to facilitate value creation and profitable exits.

We invite all interested venture capital firms to make their submissions by April 3, 2009. For full details, please see the attached RFQ document: Request for Qualifications ( 132kb)

Modification of RFQ

Pursuant to paragraph 5.4 of the RFQ, the Renaissance Fund hereby modifies the following terms of the RFQ:

1. In Paragraph 3.7, in the fourth sentence, delete “up to six (6) of the Applicants” and replace with “up to seven (7) of the Applicants.”
2. In Paragraph 3.7, in the fifth sentence, delete “up to three (3) of the Applicants” and replace with “up to four (4) of the Applicants.”

These changes will enable the Renaissance Fund to select up to seven (7) Applicants for the short-list and will allow it to select up to four (4) of the Applicants as Preferred Applicants.

If you have questions about the RFQ process, please contact: