Committed Capital allows Rice Park to make direct investments in early-stage and mid-stage Mortgage Technology Companies to support them through the Commercialization Phase of Growth
MINNEAPOLIS, Sept. 5, 2024 — Rice Park Capital Management LP (“Rice Park”), a Minneapolis-based, private investment firm, announces that its strategic equity investing team has closed RPC Ventures Fund II LP (“RPC Ventures”).
“We believe that our active approach to investing in sectors that we know are gaining attention and the successful closing of our second venture capital fund is a testament to what we are building. We feel this milestone highlights the growing interest of those who recognize the value of our strategic and hands-on method to investing,” said Nicholas Smith, CEO and Managing Partner at Rice Park. “Rice Park’s investment strategies span the mortgage ecosystem, from origination and servicing to the capital markets. Because of our collective experiences as operators and investors, we believe that we have a unique and deep understanding of the mortgage ecosystem that allows us to be more value-add investors.”
RPC Ventures provides capital to early-stage and mid-stage real estate and mortgage technology businesses that the team believes have the potential to transform and reshape their marketplace, have a path to profitability and have the potential for a strategic exit.
Rice Park believes today’s mortgage market has the potential to undergo transformational change as origination costs have hit record highs over the past year. Because of the reliance on people in the origination process, Rice Park believes the industry is susceptible to the boom and busts of the cycle. With increasing innovations and AI, technology has the potential to play an increasingly significant role in the mortgage process.
“We are continuing to see opportunities to bridge gaps between legacy technology systems with new technology and AI which we feel will provide significant cost savings, create alternative revenue streams, and bring data into decision making and interactions with customers, resulting in a better journey for the consumer,” said Chris Bixby, Managing Director of Strategic Equity Investing at Rice Park.
“Historically the mortgage industry has been slow to adopt tech solutions. But we believe that the integration of technology in the mortgage sector began accelerating post-COVID and will continue as Millennial and Gen Z homebuyers enter the market. Our commitment to helping innovative startups through the commercialization phase of growth remains a priority as we move forward, providing the essential support and resources needed for their success.”
Last year, RPC Ventures launched an Advisory Board comprised of individuals involved in businesses that are complementary to the types of sectors in which Rice Park invests in to help with market insight and support.
About Rice Park Capital Management LP
Rice Park is a private investment firm managing capital of institutional investors, family offices and high net worth individuals. Its investment focus is to deliver cycle-resistant returns by unlocking value in complex opportunities in the residential and commercial mortgage and real estate sectors.
Learn more about Rice Park at www.riceparkcapital.com.
No Offer or Solicitation. This press release is for information purposes only and is not intended to and does not constitute, or form part of, an offer, invitation or the solicitation of an offer or invitation to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities.
Registered Investment Advisor. Rice Park is registered as an investment advisor with the SEC and only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements.
Forward-Looking Statements. This press release contains forward-looking statements. These forward-looking statements include statements about the plans, strategies, and prospects of Rice Park and/or RPC Ventures. These statements are based on our current expectations and projections about future events. The words “may,” “will,” “feel,” “should,” “expect,” “scheduled,” “plan,” “seek,” “intend,” “anticipate,” “believe,” “estimate,” “aim,” “potential” or “continue” or the negative of those terms or other similar expressions are intended to identify forward-looking statements and information. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their respective dates. These forward-looking statements are based on assumptions and estimates by the management of Rice Park and/or RPC Ventures that, although believed to be reasonable, are inherently uncertain and subject to risks and uncertainties that could cause actual results to differ from historical results or those anticipated or predicted by such forward-looking statements. In light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this press release may not, in fact, occur. Rice Park undertakes no obligation to update or revise any forward-looking statement after the date of this press release as a result of new information, future events, or otherwise, except as required by law. Rice Park qualifies all of our forward-looking statements by these cautionary statements.
SOURCE Rice Park Capital Management
