The University of Toronto has announced a C$30 million gift ($22.8 million) from the estate of longtime supporter Joseph Rotman to bolster innovation at its Rotman School of Management.

This gift, which makes Joe and Sandra Rotman the most generous donors in UT history, will be matched with C$45 million ($34.2 million) from the university to establish the Rotman Catalyst Fund and provide additional support for scholarships, faculty positions, and infrastructure investments. The Catalyst Fund, which was conceived by Rotman in collaboration with the leaders of the school shortly before his death, will act as a "venture fund" for the Rotman School, funding bold and innovative initiatives aimed at transforming management education, catalyzing new thinking, and increasing the impact made by graduates of the school. To that end, the fund will support initiatives in the school's three areas of academic focus — entrepreneurship and innovation, a global mindset, and leadership in financial management and good governance.

"The University of Toronto is immensely proud of the rise of the Rotman School of Management to the top ranks of business schools worldwide," said UT president Meric Gertler. "We heartily support the school's aspirations for continued excellence and applaud Joe Rotman's brilliant vision for a catalyst fund. It will quickly stimulate and drive opportunities for major contributions to national issues such as prosperity, innovation, and leadership development."