Venture Capital Seed Fund Management

The Delaware Division of Small Business seeks a venture capital fund manager to invest in early-stage Delaware companies through the State Small Business Credit Initiative and provide portfolio support.

Delaware > Department of State > Division of Small Business


General
Open
STA26103-SSBCI_VENTURE
Dec 02, 2026 06:00 PM
2 years base + 2 × 1 year options
Request for Proposal (RFP)
State
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Original Solicitation Links
Contact
jory.moore@delaware.gov
99 Kings Highway SW, Dover, DE, USA
Submission Instructions

All of the following are required.

Step 1

Mail
Jory Moore, Division of Small Business, 99 Kings Highway, Dover, Delaware 19901

Step 2

Email
Description

The Delaware Division of Small Business is seeking a qualified venture capital fund manager to manage the state’s participation in the U.S. Treasury State Small Business Credit Initiative. The program targets seed- and early-stage companies, with investments generally ranging from $500,000 to $5 million, and focuses on Delaware-based startups in sectors including financial technology, agriculture, recreation, blue technology, and biopharmaceutical manufacturing. The fund manager will source and evaluate investments, raise required private-sector matching capital, oversee portfolio companies, provide or arrange advisory services, and manage fund formation, compliance, reporting, and accounting. Proposals must describe the fund’s investment strategy, team qualifications and track record, operating model, diversity and inclusion strategy, and administrative controls. The contract term is two years, with two optional one-year extensions.

Classification Codes
NAICS523940Portfolio Management and Investment Advice
PSCR799Other Management Support Services
Smart Codes
venture capital fund managementstartup investment managementportfolio company advisory services
Specifications
Service Only
Timeline
Oct 23, 2026-Solicitation Advertisement Date
Nov 6, 2026-Questions Due
Nov 16, 2026-Responses to Questions Posted
Dec 02, 2026 06:00 PM-Proposal Submission Deadline
Requirements
Required
  • Workers’ Compensation and Employer’s Liability
  • Commercial General Liability — $1,000,000.00
  • Automotive Liability — $1,000,000.00
  • Medical/Professional Liability — $1,000,000.00
  • Miscellaneous Errors and Omissions — $1,000,000.00
  • Product Liability — $1,000,000.00
Scored
  • Minimum 3 references
  • Client point of contact required for each reference
No
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