The gift lays the foundation for Minerva Universitys long-term sustainable growth, a press release said.

It builds on previous donations by the Netflix Co-CEO, which supported 4-year scholarships for nearly 100 students.

The San Francisco-based school was established in 2012 with $25 million in funding from Benchmark Capital.

Reed Hastings

Reed HastingsWolter Peeters/Fairfax Media via Getty Images

I see incredible potential for Minerva University toincrease its positive impact in the world.

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