We are very pleased to be able to announce that we have signed a memorandum of understanding (MoU) with SOVICO Group, represented by their chairwoman Madam Nguyen Thi Phuong Thao, to receive a philanthropy donation of a total of £155 million. This gift will have a transformative impact on College and we are immensely grateful for their generosity.
The MoU was signed in Edinburgh on Sunday 31st October and sets out the intention to create a new graduate centre for our students and endow graduate access scholarships. We have long been one of the least well-endowed colleges at the University, so we are delighted that a significant part of the donation will be for our general endowment fund, to help support the daily running of College.
SOVICO Group has also committed to all their subsidiaries reaching net zero carbon by the end of 2050 with the input from leading Oxford academics.
After receiving the first donation of £50 million, we will approach the Privy Council to ask for permission to change our name from Linacre College to Thao College in recognition of this landmark gift.
The donation agreement can be viewed here.
