IIT Delhi alumnus contributed 11 crore to his endowment fund
IIT Delhi alumnus Mohit Mittal has pledged Rs 11 crore to the institute’s endowment fund. He had received a BTech degree in Computer Science and Engineering in 2000 from IIT Delhi. Mr. Mittal has already paid Rs 2.5 crore as the first installment of his contribution.
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Mr. Mittal is currently Managing Director and Portfolio Manager at Pacific Investment Management Company (PIMCO), where he manages the Credit, Total Return, LDI and Dynamic Bond portfolios. He joined PIMCO in 2007 and is also an executive sponsor and board member of PIMCO Multicultural, according to an IIT statement.
Recalling his memories of his time at IIT Delhi, Mr Mittal said: “I am extremely grateful to IIT Delhi for all that I have learned during my 4 years there, which were the bases of my professional career. My wife, Shveta, and I sincerely believe that a strong endowment will enable IIT Delhi to serve its students and faculty, and support cutting-edge research and entrepreneurship that can transform the entire world for generations to come. .
“We are delighted to support this wonderful company. We hope to work with a variety of academic disciplines at IIT Delhi like the Department of Energy Science and Engineering, Automotive Research Center and Center for Atmospheric Studies and support their research on many pressing topics. impacting our planet today, ”he added.
Professor V Ramgopal Rao, Director, IIT Delhi and Chairman, IIT Delhi Endowment Management Foundation said, “IIT Delhi is very proud of its alumni and celebrates their achievements. Our alumni consider the institute as their second home, and with good reason. I spoke personally with Mohit Mittal and felt delighted to see his enthusiasm and commitment to help the institute. I am so happy that the endowment fund initiative, launched just over two years ago, is gaining deeper roots and expanding its reach. Much of the credit for the success of this initiative goes to the alumni themselves.
Mr. Mittal and his wife Shveta are both supporters of strengthening research and core development activities around climate concerns, alternative fuels, energy consumption and storage, and look forward to working closely together in those areas with IIT Delhi, the statement added.