In a first, IIM Ahmedabad launches endowment fund with help from alumni

Alumni's initial commitment Rs 1,00 crore, B-school aims to raise Rs 1,000 crore in 5 years

Emulating major global B-schools for the first time, the Indian Institute of Management, Ahmedabad (IIM-A) has now launched an endowment fund with the help of alumni with an aim to raise Rs 1,000 crore in five years.

With an initial commitment of Rs 100 crore from 10 founding alumni including the likes of InfoEdge founder and executive vice chairman Sanjeev Bikhchandani of 1989 batch, and Makemytrip founder and group chief executive officer Deep Kalra of 1992 batch, the 'IIM Ahmedabad Endowment Fund' is being claimed as the first by any management school in India.

The endowment fund is aimed at