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National University
Retired U.S. Navy Capt. David Chigos founded National University in 1971 to serve deployed soldiers and working adults shut out of conventional academia.
National University
Retired U.S. Navy Capt. David Chigos founded National University in 1971 to serve deployed soldiers and working adults shut out of conventional academia. The institution grew into the largest private nonprofit university in San Diego, educating over 40,000 students annually across online and hybrid formats. Its endowment is fed by billionaire donor T. Denny Sanford, whose 2019 $350 million naming pledge—currently on hold—underscores the scale of philanthropic capital backing the university’s growth. Bello directs the endowment and investment advisor relationships through a strategy weighted toward growth capital. Altss research identifies confirmed exposures spanning robotics and automation, edtech, and healthcare services, with additional interests in AI/ML, AR/VR/XR, biotech, cybersecurity, and semiconductors. The portfolio engages across startup and mission-related investing, funneling returns into a sprawling support apparatus: $37 million in annual scholarships, free tutoring, mental health counseling, and the career-focused NU Mentoring Network. In September 2022, National University absorbed Northcentral University, adding over 10,000 students and 80 graduate and doctoral programs. The combined entity now enrolls students from across the U.S. and globally, maintaining physical campuses in California and Nevada while leaning into a virtual campus built with advanced VR and 3D modeling. Bello’s administration layers corporate partnerships—Amazon named NU an exclusive Career Choice partner in 2022—onto a foundation of military and community-college articulation agreements with 116 schools. The endowment operates inside a nonprofit system that includes City University of Seattle and National University Virtual High School, creating a vertically integrated pipeline from secondary through doctoral education. That architecture lets Bello align investment returns with a holistic student model—the university’s Whole Human Education framework—tying financial performance directly to expanded support for adult learners rather than abstract financial targets.
General information
Firm type
Endowment / Foundation
Year founded
1971
Location
Region
North America
Country
United States
City
San Diego
Corporate office
9388 Lightwave Ave, San Diego, CA 92123, United States
Additional offices
California and Nevada Campus Network
Principals
Mark D. Milliron
President and CEO
Altss tracks 2 additional named team members for this firm — including direct investment leads, IR, and operating principals not listed on the public website.
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Frequently asked questions
Who runs investment strategy for National University’s endowment?
Michelle Bello, Senior Vice President for Administration and Finance, oversees the endowment and its external investment advisor relationships. Her purview covers a portfolio that prioritizes growth capital across technology and healthcare verticals. Bello operates under the broader leadership of President and CEO Mark D. Milliron.
Where does the university’s endowment capital come from?
The endowment’s principal philanthropic engine is billionaire T. Denny Sanford, who pledged $350 million to the institution in 2019. The naming agreement tied to that pledge is currently on hold. Additional capital flows from operations at the largest private nonprofit university in San Diego, which serves over 40,000 students.
What asset classes and sectors does the endowment target?
Altss research confirms direct exposure to robotics and automation, edtech, and healthcare services, with secondary interests in AI/ML, AR/VR/XR, biotech, cybersecurity, and semiconductors. The endowment primarily deploys growth capital through startups and mission-related investments, a lean structure that funnels returns back into the university’s academic and student-support missions.
How did the Northcentral University merger change National University’s scale?
The September 2022 merger added roughly 10,000 students and 80 graduate and doctoral programs to National University’s existing platform. The combined entity now educates more than 40,000 students annually, operates a virtual-reality campus, and maintains corporate partnerships with organizations including Amazon, Sharp Healthcare, and the City of San Diego.
Does National University maintain philanthropic structures separate from the endowment?
Yes. The NU Foundation operates alongside the endowment to channel gifts into scholarships and programmatic support. The Sanford Institute of Philanthropy at National University, supported by T. Denny Sanford, further separates philanthropic programming from the university’s core investment operations.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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