University Growth Fund Closes $50M Fund

University Growth Fund

University Growth Fund (UGF), a student-run private equity fund, closed a fund with over $50m committed.

Ally Financial Inc. (Ally) is the lead investor. In addition to Ally, investors include Sallie Mae Bank, Lending Club, Arvest Bank, Continental Bank and ATHOS, along with notable investors and entrepreneurs such as Jeremy Andrus and Franklin McLarty, among others.

University Growth Fund is an education-based private equity fund, with over $80 million in assets under management from several institutional investors. UGF gives university students the opportunity to gain real-world experience as they invest alongside top-tier investors in many of the best companies in the country.

UGF typically has 50+ student associates from fourteen universities in the program each semester.

With locations in Salt Lake City and San Diego, UGF expanded to Atlanta last year to promote diversity in the underrepresented field. Atlanta has 26,000 college students of color and 57 institutions of higher learning, including four Historically Black Colleges and Universities. Students in the Atlanta office come from a range of universities including Historically Black Colleges and Universities (HBCUs), and these schools include Georgia Tech, Georgia State, Morehouse College, Spelman College, Gwinnett College and Emory University.