The University of Virginia’s Board of Visitors established the Strategic Investment Fund (SIF) in 2016 to serve as a funding source for initiatives that have the potential to transform a critical area of knowledge or operation of the University in our continuous pursuit of excellence. 

In 2019, the Board of Visitors adopted revised spending guidelines for the Strategic Investment Fund to support the University’s Strategic Plan, “A Great and Good University – the 2030 Plan” (the “2030 Plan”). These spending guidelines, along with an allocation formula, were approved by the Board of Visitors for an initial three year term, ending June 30, 2022. In 2021, the Board approved an extension of the guidelines for a second three-year term, through June 30, 2025.

In December 2024, the Board of Visitors approved, for the duration of the current capital campaign – Honor the Future, slated to last until June 30, 2025 – that the President may commit FY2026 awards of up to $65M to match scholarships, professorships, or large philanthropic gifts with the prior concurrence of the Rector and the Chair of the Finance Committee. Awards from the FY2027 and FY2028 allocated amounts will require Board of
Visitors approval.

At the June 2025 Board of Visitors meeting approved the current guidelines linked below. Project prior to December 2024 will follow the previous guidelines.

Guidance prior to December 2024 Guidance after December 2024