14 Oct 2022

HBS Announces Loring Family MBA Pathways Fund

Gift Will Promote Educational Diversity and Opportunity in Business Leadership
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BOSTONHarvard Business School (HBS) has announced the establishment of the Loring Family MBA Pathways Fund, which will promote educational diversity and opportunity in business leadership by supporting activities aimed at making the School’s MBA Program more accessible to a wider range of students. The fund is made possible through the generosity of Ian K. Loring (MBA 1993), a senior managing director and executive chair of Haveli Investments, and Isabelle P. Loring, an active volunteer with nonprofits. The Loring family gift, made in honor of Ian’s 30th HBS Reunion, will endow the Summer Venture in Management Program (SVMP) and complementary initiatives focused on supporting students from diverse socioeconomic backgrounds. This new fund builds on the generosity of the Lorings’s previous gift to the School, which established the Loring Family Fellowship Fund in 2016.

“We are deeply grateful to Ian and Isabelle Loring for their ongoing dedication to the School, which has enabled us to provide scholarships to talented students from a wide array of backgrounds and experiences,” said HBS Dean Srikant Datar. “This new gift broadens their potential future impact by giving young people an opportunity to see how, through the pursuit of a business education, they can become leaders who will make a difference in the world.”

Ian K. Loring (MBA 1993) and Isabelle P. Loring (front center), with the SVMP faculty chair, Professor Anita Elberse (far right), and students who attended the program in June. Photo courtesy Susan Young.

The gift supports the groundbreaking SVMP, now in its 40th year, which brings 180 college students to campus to experience HBS for a week during the summer through intensive case studies, career sessions, and interactions with current students and alumni. The program is completely free for participants—talented college students from backgrounds underrepresented in business schools and corporate America. Any SVMP alumni who later enter the HBS MBA Program will be eligible for an additional $20,000 scholarship on top of their need-based scholarship and will be known as Loring Fellows.

The gift contributes to broader HBS efforts to make the MBA Program more financially accessible for students from all socioeconomic backgrounds. Recent initiatives with this aim include expanding outreach to first-generation college graduates and prospective students from diverse paths; launching the Forward Fellowship, which offers additional funding to students who provide financial support to family members while attending business school; revising the financial aid formula to factor in socioeconomic background in addition to personal income, assets, and undergraduate debt; and instituting a need-based application fee waiver. Recently, the School announced that it would expand its financial assistance to the students with the greatest need—approximately 10 percent of its student body—by providing scholarships that cover the total cost of tuition and course fees. HBS will also offer additional scholarship support to more students from middle income backgrounds

Ian K. Loring (MBA 1993) and Isabelle P. Loring. Photo courtesy Susan Young.

The Loring Family MBA Pathways Fund, as Ian explains, “started with the idea of finding a way to thank HBS and to recognize how much it’s changed our lives over the past many years.” Adds Isabelle, “I was a partner while Ian was at the School, and I felt very much included in his experience and the HBS community, so making this gift was meaningful to me as well.” Equally important, the Lorings are strong believers in and advocates of creating opportunities for economic and social mobility and wanted to support the work HBS is doing in this area. “Finding ways to provide access for underserved communities has long been a priority for us,” says Isabelle. Ian notes, “To the extent we can find ways to give more people exposure to the business school opportunity and hopefully inspire them in this journey, that was really important for us.”

Ian Loring has had a long career in the private equity industry. He is currently helping to build Haveli Investments, a new private equity firm focused on the technology sector. Prior to that, Ian spent 24 years at Bain Capital, joining the firm in 1996 and helping it grow from 35 people and $250M of assets under management (AUM) to over 1,000 employees and $100B of AUM when he departed in 2020 as global head of technology investing. From 2020 to 2021, he helped to launch Crosspoint Capital, a private equity firm focused on the cybersecurity software industry. His philanthropic interests include serving as chairman of the board of the Boston Amateur Basketball Club, one of the nation’s oldest and most accomplished Amateur Athletic Union programs; as a member of the executive board of Harlem Lacrosse; and on the president’s council at Massachusetts General Hospital. Prior to earning his MBA degree from HBS, he received his BA from Trinity College.

Isabelle Loring, also a graduate of Trinity College, serves on the board of a college preparatory nonprofit, the Steppingstone Foundation, and was its prior board chair. In addition, she is on the board of the Nantucket Conservation Foundation and is an active volunteer at Beth Israel Hospital and at Massachusetts General Hospital, where she serves as a member of the president’s council. She also serves on the Vincent Memorial Hospital’s board of managers.

Contacts

Mark Cautela
mcautela+hbs.edu
617-495-5143

About Harvard Business School

Founded in 1908 as part of Harvard University, Harvard Business School is located on a 40-acre campus in Boston. Its faculty of more than 200 offers full-time programs leading to the MBA and PHD degrees, as well as more than 70 open enrollment Executive Education programs and 55 custom programs, and Harvard Business School Online, the School’s digital learning platform. For more than a century, HBS faculty have drawn on their research, their experience in working with organizations worldwide, and their passion for teaching to educate leaders who make a difference in the world, shaping the practice of business and entrepreneurship around the globe.