Mohit Mittal, a managing director and portfolio manager of US-based Pacific Investment Management Company (Pimco), has pledged Rs 11 crore to alma mater IIT Delhi.
Mittal, who did his B.Tech in computer science and engineering in 2000 from IIT Delhi, has pledged the funds to the institute’s Endowment Fund, the elite tech and engineering school said on 13 January.
The IIT said he has already paid 25% of the total amount promised as the first tranche. With this, Mittal has joined the expanding league of Endowment Fund founders at IIT Delhi.
Mittal, who is in the Newport Beach office (US) at Pimco, was named as winner of the 2020 US Morningstar Award for Investing Excellence in the Rising Talent category. An MBA from the Wharton School of the University of Pennsylvania, he is a member of the US Treasury Borrowing Advisory Committee.
“We hope to work with a variety of academic disciplines at IIT Delhi like the Department of Energy Sciences & Engineering, Center for Automotive Research and Center for Atmospheric Studies and support their research on many pressing topics impacting our planet today,” Mittal said in a statement.
V Ramgopal Rao, director of IIT Delhi, said alumni consider the institute as their second home. “I feel so glad that the Endowment Fund initiative, started just over two years ago, is taking deeper roots and expanding its reach. The credit for the success of this initiative largely goes to the alumni,” Rao added.
The IIT Delhi had established the fund with an initial pledge of around Rs 225 crore from alumni and industries, and has stepped up efforts to garner $1 billion over the next few years.
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