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Investments

3

Portfolio Exits

1

Partners & Customers

1

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Latest Rice Management Company News

The Rise Fund Invests in The Burrell College of Osteopathic Medicine and Idaho College of Osteopathic Medicine; Launches Center ...

Apr 11, 2022

Mission-driven osteopathic education investments serve diverse student populations while closing the primary care gap in underserved communities February 22, 2022 – San Francisco, CA; Meridian, ID; and Las Cruces, NM – The Rise Fund, TPG’s multi-sector global impact investing strategy, today announced investments in two leading medical colleges, The Burrell College of Osteopathic Medicine (“BCOM”) and Idaho College of Osteopathic Medicine (“ICOM”) and the launch of the Center for Health Education and Access (“The Center”), a new, integrated, mission-driven osteopathic education platform. Existing investor, Rice Management Company will retain its stake in both schools and become an investor alongside The Rise Fund in the Center for Health Education and Access. BCOM, which opened in 2016 in partnership with the leadership of New Mexico State University, is accredited by the Commission on Osteopathic College Accreditation (“COCA”) and its 2020 graduating class had a 100% residency placement rate. ICOM opened in 2018 in partnership with the leadership of Idaho State University and expects final COCA accreditation following graduation of its first class in May 2022. Both universities boast state-of-the-art facilities and utilize the latest technologies and learning methods to ensure success in both the classroom and future professional practice. “There is an acute need for access to primary care in the U.S., specifically in rural regions, and a growing imbalance between the demand for physicians and limited capacity of U.S. medical schools,” said Matt Hobart, Co-Managing Partner of TPG Growth who leads healthcare investments at The Rise Funds. “DO programs are growing rapidly and are well-positioned to address the fundamental supply/demand imbalance that the country has been facing for more than a decade. While still in their early stages, BCOM and ICOM rank in line with the highest quality DO schools in the U.S. and have maintained that momentum through the pandemic, with on-campus operations resuming for the upcoming semester,” added John Rogers, Partner and Education Sector Lead for The Rise Funds . As a public benefit corporation, the Center for Health Education and Access will support the missions of ICOM and BCOM to promote the education of healthcare professionals who will improve access in underserved communities. The Center will pursue partnerships with national health systems to advance clerkship placement and graduate medical education and will pursue new opportunities to expand access within the field of medical education. BCOM and ICOM will remain independent institutions with separate management teams and majority independent boards of trustees, per accreditation requirements. “We are excited to welcome The Rise Fund as a partner in our mission to improve the quality and accessibility of medical education. We look forward to continuing to support both schools strategically and with appropriate oversight,” said Allison Thacker, President and Chief Investment Officer of the Rice Management Company, which oversees the Rice endowment. In conjunction with this announcement, Nick Turkal, MD, has been named CEO of the Center for Health Education and Access and a Board of Trustees member for both BCOM and ICOM. Dr. Turkal brings more than two decades of experience in medical education, previously serving as President and CEO of Advocate Aurora Health Care. He has also served as Associate Dean of the University of Wisconsin School of Medicine and on the Board of Trustees of Creighton University. The Center for Health Education and Access joins The Rise Funds’ existing investments in higher and continuing education including Instride, a public benefit company that is expanding access to college degrees for working adults, and Teachers of Tomorrow, the nation’s largest teacher alternative certification program. Its investments also benefit from the expertise of Senior Advisors including former U.S. Secretary of Education Arne Duncan and Rick Levin, former CEO of Coursera and the 22nd President of Yale University. The Rise Funds’ commitment to providing accessible healthcare and innovative healthcare delivery models is expressed through investments in Evercare Group, the leading healthcare delivery group in emerging markets with 30 hospitals, 16 clinics, and 82 diagnostic centers across South Asia and Africa; Zipline, the world’s largest automated on-demand delivery service for critical medical supplies; and Ceribell, innovator of the world’s first Rapid Response EEG.

Rice Management Company Investments

3 Investments

Rice Management Company has made 3 investments. Their latest investment was in Iora Health as part of their Series D on October 10, 2016.

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Rice Management Company Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

10/13/2016

Series D

Iora Health

$75M

No

30

1/26/2015

Series C

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$99M

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10

1/1/2013

Seed

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10

Date

10/13/2016

1/26/2015

1/1/2013

Round

Series D

Series C

Seed

Company

Iora Health

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Amount

$75M

$99M

New?

No

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Co-Investors

Sources

30

10

10

Rice Management Company Portfolio Exits

1 Portfolio Exit

Rice Management Company has 1 portfolio exit. Their latest portfolio exit was Iora Health on June 07, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

6/7/2021

Acquired

$99M

10

Date

6/7/2021

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

10

Rice Management Company Partners & Customers

1 Partners and customers

Rice Management Company has 1 strategic partners and customers. Rice Management Company recently partnered with Common Desk on November 11, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

11/17/2020

Vendor

United States

Rice Management Company Selects Common Desk for Co-Working Operations and Transwestern for Property Management of The Ion

HOUSTON , Nov. 17 , 2020 / PRNewswire / -- Rice Management Company , the developer of The Ion and surrounding district , announced today its partnership with Common Desk , a co-working and workday amenities provider , and Transwestern , a nationally recognized commercial real estate and property management company .

1

Date

11/17/2020

Type

Vendor

Business Partner

Country

United States

News Snippet

Rice Management Company Selects Common Desk for Co-Working Operations and Transwestern for Property Management of The Ion

HOUSTON , Nov. 17 , 2020 / PRNewswire / -- Rice Management Company , the developer of The Ion and surrounding district , announced today its partnership with Common Desk , a co-working and workday amenities provider , and Transwestern , a nationally recognized commercial real estate and property management company .

Sources

1

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