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.

“We were proud to advise Rice University on an initiative that builds on its exceptional track record in entrepreneurship. This fund will help turn promising research and ideas into commercial opportunities, while advancing Rice’s strategy to attract investment, support founders, and strengthen Houston’s innovation ecosystem,” said partner Barry Burgdorf. “We value our longstanding relationship with Rice and are pleased to continue supporting their strategic goals especially in the area of innovation. The launch of the One Giant Leap Fund marks the third strategic innovation transaction Hogan Lovells Cadwalader has advised Rice on in the last two years.”

The fund will invest up to US$500,000 into Rice-affiliated companies, including those founded or led by Rice alumni, students or faculty, or based on Rice-licensed intellectual property.

More details on the transaction can be found here.

The Hogan Lovells Cadwalader Corporate & Finance deal team was led by partners Barry Burgdorf (Houston) and, David Winter Co-Head of the firm’s Fund Formation Practice Group (Washington D.C.). They were supported by senior associate Curtis Victor (Washington, D.C.) and associate Madison Kirton (Washington, D.C.). Partner Siobhan Rausch (Washington, D.C.) provided non-for-profit tax and structural advice alongside partner Jessica Millet (New York) and associate Max Feinstein (New York) who provided tax advice and support.

Hogan Lovells Cadwalader advises Rice University as it launches One Giant Leap Ventures, backing startups across the university ecosystem