Notice of Intent to Sole Source - Research & Analytic Data

Notice of Intent:

The United States Department of Energy, Advanced Research Projects Agency –Energy (ARPA-E), intends to award a sole source modification to the Purchase order 89703023PAR000030 to Pitchbook Data, Inc. The Government intends to solicit and negotiate with only one source under the authority of FAR 6.302-1(a)(2) –Only One Responsible Source and No Other Supplies or Services Will Satisfy Agency Requirements.

This synopsis is being published for informational purposes only. This proposed action is for continued access to and use of the Pitchbook Platform, an online resource tool providing research and analytics data about the global venture capital and Merger and Acquisitions markets. The Pitchbook Platform is an interconnected information software that allows industry professionals to track and understand the global Merger and Acquisitions (M&A), Private Equity (PE) and Venture Capital (VC) transactional landscape, along with the limited partners, funds, firms, companies, dealmakers and executives involved. Pitchbook is ideal for creating a detailed dataset for deal data and company name standardization data.  Additionally, the availability of valuation and fund level data like dry powder and cleantech company data is important.   The applicable North American Industry Classification System Code (NAICS) for this requirement is 518210 –Data Processing, Hosting and Related Services. Business size standard for NAICS 518210 is $35,000,000.

The statutory authority for permitting other than full and open competition for this requirement is pursuant to 41 U.S.C. 3304(a)(1) and FAR Part 6 for the aforementioned requirement based on the application of FAR 6.302-1(a)(2), only one source is capable of providing the supplies or services.

ARPA-E is looking to have access to a market research tool which provides data, news, and analysis on the private equity and venture capital industries.  ARPA-E plans to use the platform to access data concerning company funding rounds, valuations, and other relevant financial and business information which is updated quickly with a low latency and high accuracy.

Due to the breadth of venture capital data available, the tool needs to provide comprehensive data on energy technology. Additionally, for the purposes of all offices within DOE subscribing to the web-based application be able to assist the Department of Energy with implementing due diligence models and evaluating foreign influence of perspective awardees. Due diligence includes financial, credit, and previous investment reviews among other things performed by DOE staff.

The Government leveraged internet search engines to conduct market research.  ARPA-E reviewed corporate websites and GSA schedule information to assess availability of the product.  But all companies lacked one or more of the following necessary functions critical to ARPA-E:

•            Round by Round deal data including both US and abroad.

•            Cleantech sector focus and startup/tech-sector-only focus which is critical to ARPA-E

•            Direct data feed or API functionality

•            Financial and investor contact data and dry powder the size of the database is limited

•            High granularity of new company data with industry verticals and emerging space capabilities

•            A flexible industry verticals classification system

PitchBook is the only platform that provides Deal Sourcing information, which is the ability to accelerate alerts and notifications on entities, in areas of interest to ARPA-E and other users across DOE, or other relevant company capital raises and conduct due diligences. PitchBook helps identify seed-stage and accelerator-backed companies at specific inflection points in their capital raising cycle when they will be looking to raise capital from new investors that show progress with advancing the commercialization and deployment of DOE funded R&D. The PitchBook Platform also provides Round-By-Round Due Diligence / Valuations and Deal Structuring, which provides data on pre-venture (accelerator, angel, and seed) and venture capital rounds. The platform conducts deal-level due diligence by looking at capitalization tables, pre/post-money valuations, and series terms for similar transactions.

PitchBook also contains Executive-level information ties in to existing financial due diligence efforts using platforms that research published literature to better understand personnel connections across companies that would potentially receive investment from DOE. The platform also provides data on the location of investors both in the U.S. and abroad.

Information received will be considered solely for the purpose of determining whether to conduct a competitive procurement.  This notice of intent is not a request for competitive quotations.  However, all responsible sources may submit a capability statement in response to DOE’s intent to purchase on a sole source basis. Any capability statements shall be considered by the Government if received by 2:00 p.m. local (Washington D.C.) time, Tuesday, June 11, 2024. Information received will normally be considered solely for the purpose of determining whether to conduct a competitive procurement.  A determination by the Government to change the acquisition strategy for the proposed requirement, based upon responses to this notice, is solely within the discretion of the Government.

Contractors must be registered in the System for Award Management (SAM) prior to award. You may contact SAM by telephone at 866-606-8220 or online at https://beta.sam.gov/. The anticipated award date for this acquisition is June 12, 2024. Any information, including capability statements, should be e-mailed to farwa.nawaz@hq.doe.gov, no later than by 2:00 p.m. local (Washington D.C.) time, Tuesday, June 11, 2024.  Only inquiries/information received by this date will be considered. Be advised that all correspondence sent via e-mail shall contain a subject line that reads "Pitchbook Modification 2024.”