Peking University, one of the most prestigious educational institutions in China, received on Wednesday the biggest alumni donation in its 123-year history, totaling one billion yuan (about $155 million).

The donation came from Li Yongxin, founder of Beijing Offcn Education & Technology Co., Ltd, a company that offers training services for recruitment examination candidates, from college students to teachers to civil servants. Li graduated from Peking University in 1999, the same year he established his business, having majored in political science and administration.

He previously donated 180 million yuan to his Alma Mater.

The university says it has seen an increase in the amount and forms of donations by former students in recent years. The contributions help the university invest in talent training, faculty development, academic research and innovation.

Last year, alumni donations to Peking University amounted to 3.18 billion yuan, ranking second on a list compiled by the Chinese Universities Alumni Association (CUAA). Tsinghua University, also in Beijing, received the most money from former students with donations topping a record 4.72 billion yuan.