UL Foundation has recieved big donation

The University of Latvia (UL) Foundation has received an unusual donation of 200 000 euros of Indexo shares. The donation was made by Valdis Siksnis, co-founder of Indexo, Chairman of the Board and a graduate of the University of Latvia. The donation aims to support the strategic and development projects of the University of Latvia, including "Latvian - Nobel Laureate 2050", "Academic Centre: Health House" and "Presidential Readings at the University of Latvia".

"I consider supporting my Alma Mater a matter of honour, especially now that the University of Latvia has many ambitious academic projects that in the future will take the University where it should be - among the region's leading universities," comments Valdis Siksnis, co-founder of Indexo, who graduated from the Faculty of Physics and Mathematics at the University of Latvia in 1994, on his motivation to support the University of Latvia.

The donation agreement with the LU Foundation stipulates that Indexo shares will not be sold until May 2029, with the value of the shares expected to increase significantly over the next five years, reaching at least one million euros and becoming one of the largest philanthropic investments in the modern history of LU.

Future funding from the sale of the shares will therefore be an important boost to the implementation of the ambitious projects of the LU Foundation.