Record-breaking year in philanthropic support for Cambridge celebrated in Vice-Chancellor’s October 1 speech

The University of Cambridge has had the most successful fundraising year in its history, with more than £210 million raised.

The record sum was raised in a combined effort by the University and 31 Colleges as part of the £2 billion “Dear World… Yours, Cambridge” campaign, which focuses on the University’s impact on the world. This brings the campaign total so far to £743 million*.

Professor Sir Leszek Borysiewicz, Vice-Chancellor of the University of Cambridge, celebrated the power of collegiate Cambridge and the importance of philanthropy in his annual address to the University at the start of the academic year.

The Vice-Chancellor, in his seventh and final October 1 speech, said: “The collegiate nature of the University has been, and remains, one of our greatest strengths.

“Bound inextricably by history, and by a joint responsibility for students, today the University and the 31 colleges work in a common endeavour more closely than at any time I can remember.

“This has been particularly true since the launch, at the end of last year, of the most ambitious fundraising campaign in the collegiate University’s history.

“Philanthropy is critical to us. It underpins our academic autonomy, and allows us to deliver our transformative research. It brings the best people to study and work with us. They are the people who will produce ideas that change the world.

“Philanthropy is the catalyst for discovery – and it ensures that discoveries continue, even at a time of unparalleled financial challenges. To all of our benefactors we owe our immense, continued gratitude.”

The sums raised this year include a huge variety of gifts from supporters of Cambridge including £35 million from the estate of Ray Dolby to Pembroke College, $25 million from Dr Mohamed A. El-Erian split between Queens’ College and the Faculty of Economics and $27 million from Dr Bill and Weslie Janeway to Economics and an anonymous gift of £20 million to St John’s College for studentships. Earlier gifts to the campaign, which was publicly launched in 2015 and seeks to raise £2 billion, include an £8 million gift from the James Dyson Foundation to support the James Dyson Building and the Dyson Centre for Engineering Design in Cambridge, a donation of £5 million from entrepreneur Jonathan Milner to support the Milner Therapeutics Institute and Consortium; and £5 million from Cantab Capital Partners to create an Institute for Mathematics of Information.

Speaking about the announcement Professor Ian White, Master of Jesus College and Chair of the Colleges’ Committee, said: “Collegiate Cambridge has many strengths. It gives our remarkable students an extraordinary learning experience. It allows us to attract and support outstanding people - academics and students alike. It provides a vibrant space in which people are free to explore their ideas together, and develop new thinking that creates transformational ideas. It is these strengths that have been recognised by the generosity of our supporters.”

Campaign co-chair Dr Mohamed A. El-Erian said: “Cambridge transforms lives and improves the wellbeing of many, so I am delighted this campaign has gained such traction and will help Cambridge deliver more to more people. We are extremely grateful to the donors for a generosity that empowers so many across the University and Colleges to continue their hard and influential work.”

Fellow co-chair Sir Harvey McGrath said: “The University of Cambridge has had a huge impact on the world in many different ways. This outstanding support will help us to continue answering difficult questions and rising to the challenges humanity faces in the 21st century.”