Carnegie Mellon University Endowment Fund

Carnegie Mellon University Endowment Fund

The Carnegie Mellon University Endowment Fund traces its origins to 1900 and the founding gifts from Andrew Carnegie along with Andrew Mellon and Richard B. Mellon whose fortunes originated in steel and banking. The fund operates as the primary long-term capital vehicle for the university and receives 53.5 percent of annual distributions from The Dietrich Foundation. Investment activity spans venture capital, private equity, hedge funds, real estate and natural resources. Confirmed positions include limited partner commitments to Sequoia Capital US Venture Fund XV, Andreessen Horowitz, Accel and General Catalyst Partners. Public equity holdings feature Duolingo Inc. The portfolio maintains exposure across North America, Asia, Europe and additional regions through both direct holdings and external managers. The endowment maintains relationships with service providers including BNY Mellon as custodian and KPMG as auditor. It participates in university events such as the November 2025 Energy and Innovation Summit where it served as sponsor. Adjacent philanthropic vehicles include the Andrew Carnegie Society and the Richard King Mellon Foundation which have directed grants toward science and robotics facilities. The fund's structure ties investment decisions directly to the university's academic mission through oversight by the Investment Office and board trustees including David A. Coulter and Brian Olsavsky. This creates a governance link between capital deployment and institutional priorities that differs from independent endowments or family offices.