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 HastingsWolter Peeters/Fairfax Media via Getty Images
I see incredible potential for Minerva University toincrease its positive impact in the world.
