The foundation, set up in 1998, funds education and enterprise programmes for children and has already invested more than 13.5m across Scotland.
The money pledged by Tom Hunter - one fifth of his 500m fortune - will be available immediately for trustees to release to projects.
The foundation's latest project, aimed at disaffected and disengaged 14- to 16-year-olds, will begin in August. The 1m scheme will take in just over 2,000 children and will run for the next two years, aiming to re-engage young people, develop their personal skills and equip them for future careers (News, 31 March-6 April).
The news coincides with the appointment of the president of the Carnegie Foundation in New York, Vartan Gregorian, to the board of the Hunter Foundation.
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