Sole Source Justification (50310220P0065)_Redacted.pdf

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

100 F STREET, NE

WASHINGTON, DC 20549

OFFICE OF

ACQUISITIONS

JUSTIFICATION FOR SOLE SOURCE ACQUISITION

1. Identification of the agency and the contracting activity, and specific identification of the document as a “Justification for other than full and open competition.”

U.S. Securities and Exchange Commission 100 F Street, NE Washington, DC 20549

2. Nature and Description of Action Being Approved:

The US Securities and Exchange Commission (SEC) intends to award a sole source requirement to Pitchbook Data, Inc. for subscription to private equity data.

3. A description of the supplies or services required to meet the agency’s needs (including the estimated value).

The SEC requires subscription a data feed for private equity data. The subscription shall include but is not limited to the below requirements:

a. The subscription shall include private and acquired/merged company information (general info, industry, location, financials, financing history, first and last financing, valuations)

b. The subscription shall include deal details (general deal info, investors, financials)

c. The subscription shall include investors (investor information, locations, investments information, fundraisings, limited partners)

d. The subscription shall include private market founder demographic characteristics.

e. The subscription shall include detailed coverage on terms of exits.

f. The subscription shall include investor details related to capital formation.

g. The subscription shall include fund specific information (general fund info, investments, returns)

h. The subscription shall limited partners (general info, location, commitments, allocations)

The SEC intends to award for a Base Period of twelve months and for up to four Option

Periods of 12 months each. The total estimated value is

4. An Identification of the statutory Authority for Other Than Full and Open Competition:

FAR Part 13.5 in accordance with 41 U.S.C. 1901, only one responsible source and no other supplies or services will satisfy agency requirements.

5. A demonstration that the proposed contractor’s unique qualifications or the nature of the acquisition requires use of the authority cited:

Pitchbook is a unique data product of private offerings, which will allow the SEC to obtain and analyze granular detailed information on Private Equity, Venture Capital, and other private transactions, exits, and funds with data items related to deal terms and performance. The data provides valuable private market data like statistics on Venture Capital and Private Equity deals that are not available elsewhere. In particular, the dataset covers a broader universe of companies and has more data items than what is available in related private market databases, allowing the SEC to analyze current practices and possible effects for smaller and private companies seeking capital. In addition, the dataset includes data fields that are not available in these other datasets, such as, among many others, founder demographic characteristics and detailed information on terms of exits. Therefore, Pitchbook Data Inc. is the only source that meets this requirement because their dataset includes several information and data fields not covered by other datasets. The dataset will compliment other data subscriptions obtained by the SEC to provide more comprehensive coverage of private market equity data.

6. A description of efforts made to ensure that offers are solicited from as many potential sources as is practicable, including whether a notice was or will be publicized as required by Subpart 5.2 and, if not, which exception under 5.202 applies.

The SEC Office of Acquisitions (OA) has posted a Synopsis on betasam.gov in accordance with FAR 5.201 that provides notification of the SEC’s intent to award a sole source procurement to Pitchbook Data, Inc. for this requirement.

7. A determination by the contracting officer that the anticipated cost to the Government will be fair and reasonable.

The Contracting Officer has determined that the anticipated price will be fair and reasonable based on review of market research price estimates.

8. A description of the market research conducted (see part 10) and the results or a statement of the reason market research was not conducted.

The SEC conducted market research to determine if there are other sources that can meet this requirement. The SEC examined available literature and found that Pitchbook is the most commonly cited provider of private company data. The SEC also examined four other data providers but none were found to have the breadth and depth of private company financing activity that Pitchbook provides. Specifically, none of the others providers seem to offer the depth of coverage on the financing histories, financials, executives, filings board members, advisors/service providers, social followers and investors in these private companies as Pitchbook.

9. Any other facts supporting the use of other than full and open competition:

None.

10. A listing of the sources, if any that expressed, in writing an interest in the acquisition:

A listing of any sources that express interest in this acquisition will be maintained in the contract file.

11. A statement of the actions, if any, the agency may take to remove or overcome any barriers to competition before any subsequent acquisition for the supplies or services required:

The SEC will perform market research for future acquisitions for the purpose of verifying the sole source nature of this requirement.

12. Required Signatures:

TECHNICAL & REQUIREMENTS CERTIFICATIONS: I certify that the facts and representations which form the basis for this justification are accurate and complete.

CONTRACTING OFFICER CERTIFICATION: I certify that this justification is accurate and complete to the best of my knowledge and belief.