# San Francisco State University Foundation

San Francisco State University Foundation is an Endowment / Foundation based in San Francisco, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** San Francisco, United States
- **Region:** North America
- **Address:** San Francisco, CA, United States
- **Founded:** 2007
- **Assets under management:** $170M - $180M (Altss estimate)
- **Website:** foundation.sfsu.edu
- **LinkedIn:** https://www.linkedin.com/company/san-francisco-state-university-foundation

## Regulatory record

- **Reports private funds:** No

## About

The San Francisco State University Foundation incorporated in 2007 as a nonprofit public benefit corporation, though its fundraising roots on campus run decades deeper. Past Chair Neda Nobari, who founded MOZAIK Philanthropy, and real estate mogul George Marcus, co-founder of Marcus & Millichap, represent the volunteer board's deep ties to San Francisco capital. The foundation exists to attract and manage private gifts, including a notable cryptocurrency donation from Ripple co-founder Chris Larsen, converting volatile digital assets into an endowment corpus for scholarships and sustainability programs. Investment strategy spans a broad mandate unusual for a university foundation of its size. The portfolio operates across North America, Asia, Africa, and South America, deploying through fund-of-funds, direct co-investment SPVs, private credit, real estate, and natural resources. Stage coverage runs from seed-stage venture through late-stage growth. Confirmed commitments include a Commercial Real Estate Program Fund, carbon and environmental assets, and technology exposure through Web3 and blockchain-linked vehicles. The foundation's intentional tilt toward mission-related investing filters for ClimateTech, WaterTech, AgriTech, and Circular Economy, often co-investing alongside external managers. The foundation manages an estimated $174.85 million in endowment assets with a lean professional staff supported by an active volunteer board. It participates in the Intentional Endowments Network and the Association of Governing Boards, aligning its governance with peer university systems pursuing sustainable allocation frameworks. The SFSU Fine Arts Gallery Collection sits on its balance sheet. No dedicated investment team headcount is disclosed. The foundation's structural differentiator is its capacity to receive, hold, and monetize cryptocurrency — its XRP gift from Chris Larsen marked an early institutional bridge between blockchain wealth and public higher education. Coupled with a Real Estate Program Fund that doubles as a teaching asset, the foundation operates as a living laboratory for students while pursuing risk-adjusted returns alongside external GPs.

## Sectors

- ClimateTech
- Energy Transition & Renewables
- WaterTech
- Healthcare Services
- Mobility & Transportation
- PropTech
- AgriTech & FoodTech
- GovTech
- Circular Economy

## People

- George Marcus — Board Member and Major Donor
- Neda Nobari — Past Chair and Founder of MOZAIK Philanthropy
- Chris Larsen — Co-founder of Ripple and Major Donor

## Questions

### Who drives investment decisions at the SFSU Foundation?

The foundation's volunteer Board of Directors oversees investment policy, with past Chair Neda Nobari and real estate investor George Marcus providing long-standing stewardship. Day-to-day investment management is handled by professional staff, though the foundation does not publicly name a dedicated Chief Investment Officer. The board's composition draws heavily from San Francisco-based real estate, technology, and philanthropy networks.

### What was the significance of Chris Larsen's crypto donation?

Ripple co-founder Chris Larsen donated XRP cryptocurrency to the foundation, making SFSU one of the earlier public university endowments to accept and manage a major digital asset gift. The donation forced the foundation to build institutional crypto custody and liquidation processes, converting volatile digital currency into stable endowment capital supporting scholarships and campus programs. This capability now represents a structural differentiator for attracting future blockchain-linked philanthropy.

### Does the foundation only invest in funds or does it make direct deals?

The foundation employs a hybrid model that includes traditional fund-of-funds commitments, direct co-investment SPVs, private credit, real estate, and natural resources. Stage coverage ranges from seed venture capital through late-stage expansion. The Commercial Real Estate Program Fund operates as a direct real asset with educational co-benefits for students.

### How does the SFSU Fine Arts Gallery Collection fit into the endowment portfolio?

The foundation holds the SFSU Fine Arts Gallery Collection as a real asset on its balance sheet, housed in the Fine Arts Building on Holloway Avenue. The collection functions both as a cultural endowment and a teaching resource, though the foundation does not disclose its appraisal value or acquisition strategy. It represents a niche alternative asset class within a diversified portfolio otherwise weighted toward venture, private equity, and real assets.

## Related profiles

- [Lincoln College (Oxford) Endowment](https://altss.com/profile/lincoln-college-oxford-endowment)
- [City of Farmington Hills Employees' Retirement System](https://altss.com/profile/city-of-farmington-hills-employees-retirement-system)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/san-francisco-state-university-foundation

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