Request for expressions of interest creative fund manager under the idice programme

REQUEST FOR EXPRESSIONS OF INTEREST CREATIVE FUND MANAGER UNDER THE IDICE PROGRAMME Technology and Creative Sector Financing Agreement reference: 2000200005160 Project ID No.: P-NG-K00-009 Background The Federal Government of Nigeria (FGN), in 2018, set up the Advisory Council for Technology and Creativity (the Council) under the aegis of the Nigerian Industrial and Competitiveness Advisory Council to provide specific solutions to several technology and creativity sector challenges in the country. As part of the major recommendations of the council, FGN established the Investment in Digital and Creative Enterprises (iDICE) Programme to promote investments in the digital, information technology and creative industries. The Federal Government of Nigeria has received support from the African Development Bank (AfDB), Agence Française de Développement (AFD) and the Islamic Development Bank (IsDB) towards the implementation of the Investment in Digital and Creative Enterprises (iDICE) Programme and intends to apply part of the agreed amount for this finance to payments under the contract for a Creative Fund Manager under the iDICE Programme. 1. Objectives The objective of the iDICE programme is to promote innovation and entrepreneurship in the digital and creative industries. The larger aim is to act as a stimulant for job creation and talent upskilling in the technology and creative industries, ecosystem building and expanding the Nigerian economy in these two growth areas. This goal is to be achieved through: i. An ecosystem driven approach of multi-sectoral Programmatic interventions; and ii. A catalytic investment in businesses in the technology and creative sectors. In line with the catalytic investments, the iDICE Programme Coordination Unit (PCU) in the Bank of Industry (BOI) is seeking to establish access to financing for start-ups through two financing options: i. The Digital and Creative Enterprises (DICE) Funds which seek to strengthen start-ups through equity and quasi equity capital injections and; ii. The Capacity Building window which seeks to capacitate start-ups through training and support grant Scope of Work The Fund Manager(s) deliverables will include but not be limited to: 1. Designing and setting-up of the Fund including legal, operational, financial, and administrative structures. 2. Managing all the business affairs of the Fund and undertaking activities required to meet the objectives of the Fund. 3. Making all decisions related to the investigation, solicitation, origination, selection, development, negotiation, acquisition, management, structuring, restructuring, commitment to or monitoring of and disposal of investments 4. Directing the formulation of the Fund’s investment, financial, governance, operational policies and other relevant documentation required for the Fund’s operations.

5. Acquiring, holding, selling, transferring, exchanging, and disposing of investments, and exercising all rights, powers, privileges and other incidents of ownership or possession with respect to investments. 6. Fund raising (including the preparation of private placement memorandum, pitch books and other marketing materials). 7. Undertaking investor management activities including the management of committed capital. 8. Developing and implementing a technical assistance framework to complement the equity fund. 9. Implementing the Fund’s Environmental and Social Management System. 10. Ecosystem & Zone Mapping: Maintaining deep intelligence on creative sector interventions and state-level incentives across all six Nigerian geopolitical zones to leverage local synergies. 11. Creative Pipeline Development: Curating a "slate-based" investment approach to balance high-risk/high-reward creative projects with more stable creative businesses. 12. Content De-risking: Integrating specialized financial instruments to protect against the volatility of creative production. 13. Preparing period (Quarterly and Annually) reports on the status and performance of the Fund. 14. Implement capacity building programme for business advisory to build fund investee pipeline and de-risking portfolio (Creative Start-ups) DICE Creative Fund company will operate under the guidance of its Advisory Board comprising Limited Partners of the Fund. Minimum Qualification, Skills and Experience i. Must possess at least five (5) years of cognate track record, must have evidence of creative sector related investments in its portfolio in the last 5 years ii. Must have evidence of creative sector related investments in its portfolio in the last 5 years. iii. Consultant must demonstrate creative sector investment track record in Nigerian creative enterprises with at least one value unlocking example. iv. Development of specific metrics to measure the "cultural capital" and social impact generated by creative sector investments, alongside traditional financial returns. v. Verifiable pipeline of potential investee companies across Nigeria, includ