Rice Boys Invest in Fracking Software Company, Toby Joins Board

After selling Rice Energy to EQT (see EQT Buys Rice Energy in $8.2B Deal, Becomes #1 Gas Producer in US), the four Rice brothers, all of whom worked at Rice Energy (and left after the merger), launched a new venture (see Rice Brothers Act II – $200M Marcellus/Utica Investment Firm). Dan, Toby, Derek and Ryan Rice plus a fifth partner, a former VP at Rice, pooled $200 million of their money (and their expertise) and launched Rice Investment Group (RIG). RIG has just closed on a round of investment in Cold Bore Technology, a company that uses software to do better fracking. Toby Rice joined Cold Bore’s board. It’s good to see the boys back and active.

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