Northwestern University’s Kellogg School of Management has announced a $25 million legacy gift from the Zell Family Foundation in support of the school’s entrepreneurial fellows program.

Launched in 2013 with support from Chicago billionaire real estate investor, Sam Zell, who died in May of this year, the Zell Fellows Program has backed nearly 200 Kellogg students in creating companies or acquiring and expanding existing small businesses. The program, which selects up to 20 second-year students annually, has helped launch 127 ventures, complete 14 acquisitions, create 3,600 jobs, and raise more than $705 million in capital, generating roughly $4.75 billion in combined market value.

“With Sam’s passing, we lost a visionary entrepreneurial leader and a dedicated champion of our school and students,” said Kellogg dean Francesca Cornelli. “He wanted this gift to ensure the program continues to shape and inspire entrepreneurs and innovators who will have meaningful impact around the world, as Sam did.”

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