Rice Brothers Look To Transform Industry Through Fracking Software Investment

[Editor’s note: The following is an abbreviated version of this article. For the full version click here.]

The brothers behind Rice Energy recently closed on their first investment in a fracking software company they believe will revolutionize the industry. 

The Rice brothers—Daniel, Toby and Derek—emerged earlier this year with the launch of Rice Investment Group (RIG), a $200 million multi-strategy fund focused on all facets of the oil and gas sector. Through RIG, the Rice brothers plan to target investments of $1 million to $40 million across the upstream, midstream, oilfield service and energy technology sectors, focusing on companies that are “electrifying the oil field.”

Toby Rice, who sources and evaluates investment opportunities for RIG, said he believes the group’s latest investment—Cold Bore Technology Inc.—is one of those companies and will play a leading role in transforming the industry.