IIM Ahmedabad alumni commit Rs 100 cr for India's first B-school endowment fund

Indian Institute of Management, Ahmedabad has set up an endowment fund with an initial corpus of Rs 100 crore, the first business school in India to institute such a fund.

More than ten of the premier B-school’s alumni members, including Sandeep Singhal and SK Jain, co-founders, WestBridge Capital; Sanjeev Bikhchandani, founder, Info Edge; Deep Kalra, founder, MakeMyTrip; VT Bharadwaj, co-founder, A91 Partners; Arun Duggal, Chairman, ICRA, Ramesh Mangaleswaran, senior partner, McKinsey; Kuldeep Jain, founder, Cleanmax Enviro Energy Solutions; GV Ravishankar, managing director, Sequoia Capital India; Meenakshi Ramesh, co-founder, Citizen Matters, have anchored the fund.

An endowment refers to the amount of money a college receives in donations. The fund typically supports professorships, financial aid for undergraduates, fellowships, academic programmes, libraries, art museums and facilities.

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