Billionaire Michael Moritz, chairman of venture firm Sequoia Capital, has donated $30m to form an endowment for basic science PhD students at the University of California, San Francisco (UCSF).
The university is matching the $30m with a further $25m, making it the largest PhD endowment programme ever for the University of California. UCSD also made a commitment to raise an additional $5m from other donors.
It’s not the first time the Welshman has engaged in higher education philanthropy. Last year, Moritz pledged $115m to his alma mater, Oxford University, to set up a scholarship fund for low-income students, which Oxford called the “biggest philanthropic gift for undergraduate financial support in European history.”
Moritz told news provider Forbes: “The basic PhD science programs are under threat because of cutbacks in government funding. Without people stepping in to help, there is a real risk of programs getting cut back. Our gift is also intended to ensure that really talented young scientists don’t have financial hurdles stand in their way.”
