Publish Date: January 13, 2022
IIT Delhi Alumnus Pledges Rs. 11 Cr to IIT Delhi Endowment Fund
Share this on
(IIT Delhi Alumnus Mr Mohit Mittal)
New Delhi: IIT Delhi alumnus Mr Mohit Mittal, who received a B. Tech degree in Computer Science and Engineering in 2000, has pledged to contribute Rs 11 crore to the Institute’s Endowment Fund over the next 5 years. He has already paid Rs. 2.5 cr as the first tranche of his contribution. With this, Mr Mittal has joined the expanding league of Endowment Fund founders.
Mr Mittal is currently Managing Director and Portfolio Manager at Pacific Investment Management Company (PIMCO), where he manages Credit, Total Return, LDI and Dynamic Bond portfolios. He joined PIMCO in 2007 and also serves as executive sponsor and steering committee member of PIMCO Multicultural.
Morningstar has named Mr Mittal winner of the 2020 U.S. Morningstar Award for Investing Excellence in the Rising Talent category. He is also a member of the United States Treasury Borrowing Advisory Committee (TBAC) and serves on the board of Orangewood Foundation. He also holds an MBA from the Wharton School of the University of Pennsylvania.
Recalling his cherished memories about his time at IIT Delhi, Mr Mohit Mittal reminisced, “I am extremely thankful to IIT Delhi for everything that I learnt during my 4 years there, which formed the foundations 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 be transformative to the entire world for generations to come. We are thrilled to support this magnificent endeavour. 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”.
While welcoming Mr Mittal as a Founder to the eminent institute’s Endowment Fund, Prof V Ramgopal Rao, Director, IIT Delhi and Chairman, IIT Delhi Endowment Fund said: “IIT Delhi takes great pride in its alumni and celebrates their achievements. Our alumni consider the institute as their second home, and rightly so. I have spoken with Mohit Mittal personally and felt elated seeing his enthusiasm and commitment to help the institute. 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 themselves. Thank you Mohit for inspiring so many others with your generosity.”
IIT Delhi alumnus and Co-chairman, IIT Delhi Endowment Fund, Mr Arun Duggal added, “While the institute fraternity rejoices and takes great pride in the success stories of its alumni, who have achieved legendary reputations, we also sincerely express our gratitude to all the alumni and well-wishers who have directly or indirectly contributed to the Institute’s preeminent position in the country and abroad for technical education and research and for making the institute become a valuable resource for industry and society.”
Expressing appreciation of Mr Mohit Mittal’s generous contribution to the endowment fund, Prof PVM Rao, Dean, Alumni Relations, IIT Delhi said, “This generosity will help us pursue excellence and achieve the goals, which we have set forth for the future.”
Mohit and his spouse Shveta are both advocates of strengthening research and key developmental activities around climate concerns, alternative fuels, energy consumption and storage, and are looking forward to working closely in these fields with IIT Delhi.