The planned $201 million facility that will house Carnegie Mellon University’s Tepper School of Business has received a major investment from a world-renowned venture capitalist.
James Swartz, an alumnus of the business school, and his wife, Susan, gifted $10 million to the university to help fund the David A. Tepper Quadrangle. The Quadrangle, a 4.5-acre expansion of the university’s north campus, will include a 295,000 square-foot facility on Forbes Avenue that will be home to the business school, the Center for Innovation and Entrepreneurship and The Simon Initiative.
Mark Burd, public relations director for the Tepper School, said the project will “incorporate learning opportunities for new initiatives, new classes and new interdisciplinary degrees.”
“It will have a technological framework that will combine business education with other disciplines, such as technology, such as computer science, such as engineering,” Burd said.
No date has been set for groundbreaking, but Burd said the school estimates the development will take five years to complete.
Investor and alumnus David Tepper donated the first $67 million in November.
Swartz is a founding partner of Accel Partners, a venture and growth equity firm. The National Venture Capital Association awarded Swartz with its Lifetime Achievement Award in 2007.