Framework Agreement for Portfolio Management System

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1. At a glance

2. Scope of Work

This tender seeks to establish a single-party framework agreement for the provision, implementation, hosting, and ongoing support and maintenance of a Portfolio Management System (PMS). The system is intended to support Enterprise Ireland's Investment Solutions Division in overseeing and managing portfolios of supported funds and their underlying investments. The current approach relies on manual processes using SharePoint lists and Excel files, which are described as vulnerable to data quality risks and inefficient. The new system aims to modernise investment operations, strengthen data-driven decision-making, and provide a scalable, flexible, and secure digital platform.

The scope encompasses the following key activities and system capabilities:

• Software as a Service (SaaS) Provision: Delivery of a cloud-based Portfolio Management System.
• Implementation: Installation, configuration, and deployment of the PMS, including data migration from existing systems.
• Hosting: Secure and compliant hosting of the PMS.
• Ongoing Support and Maintenance: Provision of technical support, system updates, and maintenance services.

Specific functional requirements for the PMS include:

• Data Ingestion: Capability to ingest structured and unstructured data in various formats (Excel, CSV, PDF, Word, email) from supported funds.
• Data Validation and Correction: Services for validating data before and after ingestion, surfacing issues, and correcting data. Enterprise Ireland must also have access to add, correct, and update data.
• Data Traceability and Audit Trails: Ability to trace data to source documentation and maintain a full audit trail for all data entries, amendments, and updates, including user actions, timestamps, and versioning.
• Metric Tracking: Tracking and reporting of standard and custom portfolio company attributes, including financing round type, geography, sector, stage, econometric KPIs (revenues, exports, jobs), and sustainability KPIs.
• Financial Performance Tracking: Functionality to track and report on underlying portfolio company cost, value, proceeds, exit multiples, and performance metrics, including realised and unrealised gains and losses.
• Investment and Divestment Tracking: Tracking and reporting on new and follow-on investments, quantum invested, and divestments (exits), including exit type, date, multiples, and performance metrics.
• Deployment Tracking: Monitoring investment deployment against strategy and geographical deployment within Ireland.
• Co-investment and Leverage Tracking: Tracking total round size, financing round type, and co-investors, and reporting on leverage generated.
• Reporting and Analytics: Comprehensive reporting functionality for all standard and custom data, with filtering and drill-down options. This includes industry-standard reports, ad hoc report creation, and dashboard capabilities.
• Period Closure and Snapshotting: Functionality to lock or snapshot data for reporting periods and identify post-close modifications.
• Holding Period Tracking: Tracking and reporting of fund holding periods for each underlying portfolio company.
• Document Storage/Integration: Ability to store documents or integrate with Enterprise Ireland's SharePoint Online Document Storage.
• Currency Conversion: Functionality for currency conversion, including supported currencies, exchange rate sources, and calculation methods.
• Scalability and Flexibility: The system must be scalable to cater for growth in funds, schemes, and portfolio companies.
• Investment Guideline Monitoring: Capability to monitor investment guidelines, thresholds, concentration limits, restrictions, and risk exposures with alerts.
• Scenario Analysis: Ability to perform scenario analysis to assess the impact of different market conditions on the portfolio.

Security and compliance requirements include:

• Single Sign-On (SSO): Integration with Enterprise Ireland’s Azure AD / Microsoft Entra ID.
• Information Security Policy: Defined policy and governance arrangements for information security.
• Role-Based Access Control: Secure, role-based access control with granular permissions and privileged access management.
• Logging: Comprehensive logging for all user actions.
• Compliance: Desirable compliance with ISO 27001 and/or SOC 2 Type II for the solution and its underlying infrastructure.

The system will be used to support Enterprise Ireland's Seed & Venture Capital (SVC) Schemes, which fund venture capital funds that invest in Irish companies.

3. Background & buyer context

Enterprise Ireland is the government organisation responsible for the development and growth of Irish enterprises in world markets. Its strategy for 2025-2029, "Delivering for Ireland, Leading Globally," focuses on supporting Irish businesses to accelerate sustainably and contribute to economic growth. A key strategic ambition is to provide a world-class digital experience to its client companies and enable staff with scalable, flexible, and secure digital platforms.

This procurement aligns with Enterprise Ireland's broader Service Delivery Transformation (SDT) Programme, which aims to futureproof the organisation, minimise operational risk, and enable scaling through improved efficiency via a "Digital First" approach. This involves consolidating and modernising technology systems, reducing legacy platforms, and transforming client engagement.

The Investment Solutions Division, in particular, requires a modern Portfolio Management System (PMS) to support its oversight and management of supported fund portfolios under the Seed & Venture Capital (SVC) Schemes. These schemes have supported numerous venture funds and indigenous Irish companies. The current manual processes for monitoring and reporting investment activities are inefficient and pose data quality risks, which will intensify with future capital deployment. The PMS is critical for modernising investment operations, strengthening data-driven decision-making, and enhancing operational efficiency, governance, and compliance.

4. Eligibility & selection criteria

Bidders must meet the following minimum requirements to be considered eligible:

• Turnover requirement: Average annual turnover exceeding €150,000 per annum over the last three financial years, or pro-rata if more recently established.
• Insurance:
• Employer’s Liability: €13 million
• Public Liability: €6.5 million
• Product Liability: €6.5 million
• Professional Indemnity: €1 million
• Cyber Liability: €5 million
• Certifications: Tenderers should provide information on measures in place to ensure quality service delivery, for example, by way of an externally certified system (e.g., ISO 27001, SOC 2 Type II). Compliance with ISO 27001 and/or SOC 2 Type II in respect of the proposed solution is desirable.
• Past experience: Tenderers must demonstrate to the satisfaction of Enterprise Ireland that they have the experience necessary to supply the Services. Specific details on the number or value of past projects are not explicitly stated as a minimum requirement in the provided text.
• Personnel: Tenderers must demonstrate access to at least the minimum numbers of skilled personnel stated (specific numbers not detailed in the extract).
• Geographic / facility constraints: Not specified for this tender.
• Other: Tenderers must demonstrate compliance with all relevant Health & Safety legislation and Environmental legislation and guidelines. The tendering party must have been in existence for at least 6 months.

5. Award criteria & scoring

The evaluation of tenders will be conducted in two stages: selection criteria (eligibility) and award criteria (scoring). Bids meeting the selection criteria will be evaluated against the award criteria. The award will be made on the basis of the Most Economically Advantageous Tender (MEAT).

Criterion Weight (%) Sub-criteria