SAN ANGELO, Texas (Concho Valley Homepage) — Angelo State University announced on Nov. 2 that the university had received a $1 million dollar gift from a distinguished alum.

Alumnus Kelby Hagar, president and managing director of Argonaut Private Equity, gave the $1 million fund to Angelo State University’s Academic Excellence Endowment after visiting the campus early this year.

ASU shares in a press release that the funds will be used for student support, faculty and curricula within the university’s academic department. Priority will be given to the Honors Program and similar programs.

Dr. Don Topliff, provost and vice president for academic affairs, will have discretion of the funds with President Ronnoe Hawkins Jr.’s approval.

“This incredible gift will allow us to augment many of our existing academic and leadership programs, as well as implement new initiatives,” Hawkins said. “In turn, we will be able to provide additional opportunities for our students to enhance their education and campus experience so that when they graduate, they will be even better prepared to pursue successful careers and have a positive impact in their communities. Kelby Hagar personifies that success and significance, and we are very grateful for his generosity that will benefit the next generations of ASU alumni.”

“We are so thankful,” Topliff said, “to have such giving alumni in support of academic excellence. We have a great number of students and faculty who will benefit directly from this wonderful gift, including students in the Honors Program and faculty who support student research that raises the profile of Angelo State in our region, the state and the global community.”

According to ASU, Hagar donated the gift after talking with students in the Honors Program and in the Norris-VIncent College of Business‘ Housley Principled Leadership Class during a visit early this year.

“I am so pleased with Angelo State’s progress in developing programs to benefit its most accomplished students,” Hagar said. “Both the Honors Program and the Housley Principled Leadership Class are doing an amazing job to provide opportunities to the brightest minds on campus. I hope this new endowment can supply funds to support these worthwhile programs. I would encourage other alumni to get back to campus and meet with some of these incredible students! They are impressive, and they need our support.”

Hagar graduated summa cum laude with a Bachelor of Business Administration degree from ASU in 1992. Since then, he graduated magna cum laude from Harvard Law School with his Doctor of Jurisprudence degree in 1995. Hagar was then recognized by the ASU Alumni Association as an ASU Distinguished Carr Scholar Alumnus in 1999.

The university shares that Hagar oversees the Argonaut Private Equity operations team in Tulsa, OK. Here he assists portfolio businesses in recruiting executives, business improvement activities, implementing enterprise financial and resource management systems, and executive and board-level governance. Before working at Agronaut, Hagar founded YellowFolder LLC in 2013 and served as chairman of the board until 2022.