Cambridge University anniversary campaign tops £1bn

Cambridge University has raised more than £1bn in a fund-raising campaign, two years ahead of schedule.

The fund to mark its 800th anniversary was launched in 2005 in a bid to allow it to compete as a world leader in teaching and research.

Cambridge is the first university outside America to raise this sum through fund-raising.

More than 45,000 alumni have contributed to raising the funds, with many making regular financial gifts.

The university says the money is being used for bursaries and scholarships for students, to encourage students of all backgrounds to apply, to fund new buildings for research, teaching and student accommodation, and to attract new staff.

Cambridge vice-chancellor Professor Alison Richard said she was "profoundly grateful" to the alumni and benefactors.

She said: "Cambridge is consistently ranked among the top handful of universities in the world and is at the heart of Europe's most important cluster of innovative enterprises.

"The collegiate university plays a key role, nationally and globally, in educating and training tomorrow's leaders."

She added: "To sustain our international pre-eminence against better-funded competitors, we must continue to invest in students and staff, our collections and facilities. This campaign is helping to ensure that those long-term investments can be made."