Rice University has launched One Giant Leap Ventures Fund I, an early-stage fund built to invest in the university’s most promising spinouts and alumni-founded startups. Structured as an institutional venture fund, it enables participation from equity limited partners as well as philanthropic investors seeking to support Rice startups. One Giant Leap held its first close in August and, shortly thereafter, made its first investment in Rice spinout, Motif Neurotech.
“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,” Rice President Reginald DesRoches said.
The fund advances Rice’s Momentous strategic plan, which calls for the university to accelerate the commercialization and translation of research, expand entrepreneurial opportunities and attract early-stage venture funding to Rice and Houston. It builds on Rice’s longstanding strength in entrepreneurship, including its seven-year run as the nation’s No. 1 graduate entrepreneurship program in The Princeton Review rankings.
The fund will invest up to $500,000 into Rice-affiliated companies, including those founded or led by Rice alumni, students or faculty, or based on Rice-licensed intellectual property.
