The most ambitious university fundraising campaign ever to be staged in the UK has raised two thirds of its target figure.

The University of Cambridge today publishes its second annual Campaign Report covering the financial year ended 31 July 2007.

Together the University and the Colleges raised £155 million in the last financial year, the highest figure ever year on year and made up of more than 10,000 individual gifts. This brings the Campaign total to £663 million.

The Vice-Chancellor of the University, Professor Alison Richard said: "I am delighted to report another record year for the Campaign. But we are not complacent. There is still a long way to go and we face more challenging economic times ahead. The University, Colleges and our dedicated team of volunteers led by Sir David Walker and Dr William Janeway will be making the case for Cambridge with renewed vigour. We are very grateful for the support of a growing cadre of donors who are helping us achieve our goal of £1 billion to build lasting support for this great institution and celebrate Cambridge's 800th Anniversary."

A substantial benefaction from the Gatsby Charitable Foundation will fund the new Sainsbury Laboratory Cambridge, a world-class purpose-built facility for the study of plant development.

Other major benefactors to the University over the past year include The Hauser-Raspe Foundation , towards the construction of the Hauser Forum to promote entrepreneurship and the commercialisation of University research; the Li Ka Shing Foundation for a Professorship of Oncology; and the Kavli Foundation for an Institute for Cosmology.

The Government of India have endowed the Jawarhalal Nehru Professorship of Indian Business and Enterprise and BP have provided initial funding for the Centre for Indian Business, at Judge Business School.

Cambridge Colleges raised a record £60 million over the year, the largest gift being a £7.2 million benefaction to Downing College from the Howard Foundation, established by College members Dr Alan Howard and his son Jon, to build a theatre. 95 members of Gonville and Caius College jointly raised £1 million to endow a College Lectureship celebrating the work of the recently retired Master, Neil McKendrick.

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