Carnegie Mellon University is getting a $31 million donation from venture capitalist James R. Swartz and his wife Susan to create a new center for entrepreneurship.
The gift, the fifth-largest in the university’s history, will fund the Swartz Center for Entrepreneurship and staffing for the center, a faculty chair, entrepreneurs-in-residence and scholarships and fellowships. CMU said it will be a hub for the university’s entrepreneurial efforts.
“This investment will benefit the entire Carnegie Mellon University community,” said President Subra Suresh in a statement. “We are grateful to Jim and Susan for their generous gift, and for their vision, time and commitment to building on the unique strengths of CMU.”
Swartz is founding partner of Accel Partners, a Silicon Valley venture capital firm that has invested in Facebook, Etsy and Dropbox, among others. He is a 1966 graduate of CMU and is chair of CMU’s Global Advisory Council, which was started by Suresh.
“Carnegie Mellon is one of the world’s leading centers for learning and discovery,” Swartz said in a statement. “From its founding, entrepreneurship has been ingrained throughout the university’s culture. With its strengths in technology, science and the arts, CMU is an ideal location to cultivate the ideas, technologies and ultimately solutions that will make a true difference in the world.”