IIM Ahmedabad Endowment Fund

The IIM Ahmedabad Endowment Fund is India's first endowment fund set up at a management school. The fund was established at IIM Ahmedabad in June 2020 from an initial corpus of ₹100 Crore provided by 10 founding alumni. [1] The endowment aims to grow the fund to ₹1,000 Crore over the next five years. [2]

Fund Launch

The fund was launched by the Chairperson of IIM Ahmedabad Board of Governors, Kumar Mangalam Birla.[3]

The initial corpus was contributed by 10 founding alumni from across batches. This includes Deep Kalra, Founder and Group CEO, MakeMyTrip, Sandeep Singhal and SK Jain, co-founders, WestBridge Capital, Sanjeev Bikhchandani, Founder & Executive Vice Chairman, Info Edge, Kavita Iyer, Trustee, SIFF, VT Bharadwaj, co-founder, A91 Partners, Ramesh Mangaleswaran, Senior Partner, McKinsey & Company, Meenakshi Ramesh, co-founder, Citizen Matters, Kuldeep Jain, founder, Cleanmax Enviro Energy Solutions, GV Ravishankar, MD, Sequoia Capital India, Arun Duggal, Chairman, ICRA.

According to Ravishankar, MD, Sequoia Capital India, the plan for the fund is to invest in government securities. [2]

Management

The endowment fund will be managed by an independent Endowment Committee consisting of initial alumni contributors, and the Director, and Dean, Alumni and External Relations (AER) of IIM Ahmedabad. The purpose of the endowment is to "make a larger impact in the field of education, entrepreneurial leadership, management practice and public policy".

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References
  1. "IIM Ahmedabad creates endowment funds with ₹100 crore from founding alumni". The Hindu. June 24, 2020. Retrieved June 28, 2020.
  2. Shrivastava, Aditi (June 23, 2020). "IIM Ahmedabad alumni commit Rs 100 crore for India's first B-school endowment fund". Economic Times. Retrieved June 28, 2020.
  3. "IIM-Ahmedabad launches endowment fund of Rs 100 crore from alumni". Hindustan Times. June 24, 2020. Retrieved June 28, 2020.
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