Rice University launched One Giant Leap Ventures Fund I, an early-stage venture fund focused on investing in startups connected to the Rice ecosystem. The institutional venture fund will invest in university spinouts as well as companies founded or led by Rice alumni, students, and faculty.
Companies based on Rice-licensed intellectual property are also eligible.
One Giant Leap Ventures can invest up to $500,000 in individual Rice-affiliated companies.
The fund is structured to accept participation from traditional equity limited partners as well as philanthropic investors seeking to support the development of Rice startups.
One Giant Leap Ventures completed its first close in August and subsequently made its first investment in Rice spinout Motif Neurotech.
The fund supports Rice’s Momentous strategic plan, which includes accelerating research commercialization, increasing entrepreneurial opportunities, and attracting additional early-stage venture capital to Rice and Houston.
Companies emerging from programs including Liu Idea Labs for Innovation and Entrepreneurship, the Summer Venture Studio, and the Rice Alliance Business Plan Competition will be able to pursue investment from the fund.
The initiative joins Rice’s broader innovation infrastructure, which includes the 16-acre Ion District and the planned 200,000-square-foot Arc research, laboratory, and office development.
Adrian Trömel, a Rice alumnus, entrepreneur, and interim chief innovation officer, serves as Managing Director of One Giant Leap Ventures.
KEY QUOTES:
“One Giant Leap provides unique engagement opportunities for our community, allowing us to tap into a deep bench of experience while, for the first time, allowing our community to invest and participate in the success of our spinouts and alumni founded ventures.”
Reginald DesRoches, President of Rice University
“With One Giant Leap, I am excited that we are creating a unique structure that brings together traditional investment and philanthropic participation to invest in and help catalyze our startups, engage the deep expertise within the Rice ecosystem and transform those strengths into real-world impact.”
Adrian Trömel, Managing Director of One Giant Leap Ventures