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Background

Since inception, IIT Delhi has produced over 54K alumni who are now working across the world and have flourished in the spheres of research, finance, entrepreneurship and social work over the years – contributing to the country’s economy and to the fame of the institution in different ways.

In light of this, few of the members of IIT Delhi alumni fraternity proposed to set up an ‘IIT Delhi endowment fund’ that can leverage the financial, intellectual and influential muscles of established alumni to take our institute to greater heights.

The fund will be structured to emulate the Endowment Fund concept in the US, where they are a big source of income for top global universities who use it for development projects and student scholarships.

Founders
  • Mr Binny BansalCo-Founder, Flipkart - (Batch of 2005)
  • Mr Sachin BansalCo-Founder, Flipkart - (Batch of 2005)
  • Mr Sandeep SinghalCo-Founder, WestBridge Capital and Sequoia India - (Batch of 1992 )
  • Mr Arun DuggalChairman, ICRA - (Batch of 1967)
  • Mr Vikram Gupta Founder, IvyCap Ventures – (Batch of 1993)
  • Mr Saurabh MittalCo-Founder, Indiabulls and Founder, Mission Holdings - (Batch of 1995)
  • Mr Neeraj AroraEx-Chief Business Officer, Whatsapp - (Batchof 1996)
  • Mr Sashi ReddiFounder and CEO, Applabs - (Batch of 1987)
  • Mr Sujeet KumarCo-Founder, Udaan - (Batch of 2003)
  • Mr Amarjit BakshiFounder and MD, Central Park & Continental Engines - (Batch of 1967)
  • Mr Amarpreet Singh Sawhney President and CEO, Ocular Therapeutix - (Batch of 1987)
  • Mr Jassi ChadhaCEO, Axtria - (Batch of 1990)
  • Mr Mohit AronFounder and CEO, Cohesity

Fund Structure

The endowment fund has been structured to satisfy the following fundamental principles:

  • Tax Benefits:To provide maximum tax efficiency to donors and the institute to make the most optimal use of the available funds;
  • Transparency:To govern the usage of funds and investment operations in a completely transparent way and in line with the charter of IIT Delhi;
  • Governance:To deploy an effective governance structure to ensure the right treatment of funds with the involvement of an independent board majority composed of IITD Alumni
  • Growth and Sustainability:To ensure a structure that is sustainable and provides a robust platform for the long term growth of the endowment.

Composition of the Board

It is the aim of the IIT Delhi Endowment Fund to have a transparent structure and corporate governance model that will work towards building a relation of trust and credibility with its alumni, through better communication, professional management structure and periodic reporting. The Endowment Fund has established a governing Board, which shall take major decisions regarding the fund, known as the Endowment Board. The decisions of the Endowment Board shall be implemented through the IIT Delhi Endowment Management Foundation”, which is a Section 8 company duly incorporated for the purpose, under the provisions of the India Companies Act, 2013.

CEO, IIT Delhi Endowment Management Foundation

  • Anurag Rastogi - CEO, IIT Delhi Endowment Management FoundationMr. Anurag Rastogi has 21 years of an international career spanning both the corporate and startup worlds. He is leading the foundation as the CEO to achieve the goal of raising $1bn in endowments.

Composition of the Endowment Fund Board

  • Professor Rangan Banerjee - Chairman and Director, IIT DelhiProfessor Rangan Banerjee is a B Tech (Mechanical) graduate and PhD in mechanical engineering from IIT Bombay. He is currently the Director of IIT Delhi.
  • Sashi Reddi - Co-ChairmanMr. Sashi Reddi was the Founder and CEO of Applabs and is currently heading SRI Capital as the Founder and Managing Partner.
  • Professor P V Madhusudhan Rao - Board MemberProfessor P. V. Madhusudhan Rao is a professor in the departments of mechanical engineering and design at IIT Delhi. He was also the founding head of the department of design and is currently the Dean of Alumni Relations.
  • Neeraj Arora - Board MemberMr. Neeraj Arora was working as the Chief Business Officer of Whatsapp. He is now the CoFounder of HalloApp.
  • Binny Bansal - Board MemberMr. Binny Bansal was the Co-Founder of the e-commerce platform, Flipkart and now he is heading xto10x technologies as Co-Founder and Executive Chairman.
  • Arun Duggal - Board MemberMr. Arun Duggal is Chairman of ICRA (A Subsidiary of Moody’s USA). He is on the Boards of Directors of ITC Limited (Chair Audit Committee), and Jubilant Pharma Limited, Singapore (Chair Nominating Committee
  • Vikram Gupta - Board MemberMr. Vikram Gupta is the Founder and Managing Partner at IvyCap Ventures Private Limited, A Venture Capital Fund Management Company focused on professional entrepreneurs.
  • Gautam Kumra - Board MemberMr. Gautam Kumra has been a part of McKinsey and Company for around 30 years. He is currently the Chairman of the Asia region.
  • Sujeet Kumar - Board MemberMr. Sujeet Kumar is the co-founder of Udaan.com, an e-commerce B2B platform. He was earlier working as the President of Operations at Flipkart.
  • Saurabh Mittal - Board Member Mr. Saurabh Mittal was the Vice-Chairman and Co-Founder of Indiabulls Group. He is now heading Mission Holdings as the Founder and Chairman.
  • Sandeep Singhal - Board MemberMr. Sandeep Singhal is the Co-Founder and MD of WestBridge Capital India Advisors. He has also been the Co-Founder and MD of Sequoia Capital India.
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