The Charles Huang Foundation in Pasadena, California, has announced a $40 million gift to Huang's alma mater, Wuhan University, in Hubei province, China.

The single largest gift ever to the university will support six initiatives aimed at enabling the institution to attract and recruit top scholars, develop innovative and entrepreneurial talents with exceptional leadership skills, and advance research and teaching capabilities, especially in the field of management science. Named after Pasaca Capital Inc, a private equity firm Huang founded in 2016, and Innova Medical Group Inc, one of Pasaca Capital's portfolio companies, the initiatives include the Pasaca/Innova Endowed Chair Fund; the merit-based Innova Excellence Scholarship Program; the Innova Award for Undergraduate Innovation Achievement for students whose accomplishments demonstrate exceptional "innovation, originality, and entrepreneurship"; the Innova International Exchange Scholarship Program, which will sponsor scholarship exchanges with leading universities; construction of a building for the Innova Center for Innovation and Entrepreneurship, which will support undergraduate independent innovation, school-enterprise collaborative education, and entrepreneurship; and the Pasaca Education Fund for the Economics and Management School of Wuhan University to help the school attract and recruit top talent in management science, facilitate international exchange programs, and fund the Outstanding Academic Achievement Award.

In September, the foundation made a $70 million commitment to the University of Strathclyde in Glasgow, Scotland, where Huang earned his PhD.

“My study in Wuhan University signified the starting point of my journey to the world beyond and I deeply believe that all my achievements are based upon the excellent education that I received," said Huang. "Today, I'm fulfilling the promise I made to donate at least $100 million of my personal wealth to my alma maters in China and the UK upon my firm achieving tremendous business goals within five years after its formation.”