Tech billionaire Robert F. Smith has recently donated $1.5 million to Morehouse College to launch a scholarship program and design a new outdoor study area for students.

Most of the gift will go towards the creation of the Robert Frederick Smith Scholars Program, according to a statement released by the school.

“Robert F. Smith’s donation of $1 million for student scholarships will have a profound impact on the lives of deserving young men who have the desire to attend Morehouse College, but lack the resources,” said Morehouse president David A. Thomas. “We appreciate his generosity and his investment in a generation of students who will follow in his footsteps as global leaders and entrepreneurs.”

Smith is the founder, Chairman, and CEO of private equity firm Vista Equity Partners, which manages equity capital commitments of more than $46 billion.

The former Goldman Sachs investment banker founded the tech investment firm in 2000 to invest in software companies. It sold marketing automation software company Marketo to Adobe for $4.75 billion in 2018.