Education

IIT Delhi launches endowment fund with initial commitment of Rs 250 cr

Our Bureau Mumbai | Updated on November 01, 2019 Published on November 01, 2019

IIT Delhi has launched an 'Endowment Fund’ with an initial commitment of Rs 250 crore. This commitment has been made by 10 founder-member alumni of IIT Delhi.

The endowment will be managed by a committee whose members are Professor V. Ramgopal Rao, Director, IIT Delhi; Professor Sanjeev Sanghi, Dean, Alumni Affairs and International Programmes, IIT Delhi; Arun Duggal, Chairman, ICRA and Founder, Centre of Excellence for Research on Clean Air (CERCA) at IIT Delhi; Sandeep Singhal, co-founder of WestBridge Capital and Sequoia Capital India; Vikram Gupta, Founder & Managing Partner, IvyCap Ventures; Sachin Bansal, CEO, Navi and former co-founder, Flipkart; and Gautam Kumra, Head, McKinsey India.

The endowment structure would compete with the best in the world. "Such endowments also allow institutions like ours to confidently engage in long-term planning, without sustainability risk to critical projects," said Rao.

“With the backing of more than 52,000 alumni, we are confident this will create a model endowment fund, which can be emulated by all Indian universities,” Sanghi added.

Published on November 01, 2019
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