Crypto Billionaire Pledges £20 Million to Boost Basic Science Funding at London Institute for Mathematical Sciences
In a significant boost for fundamental scientific research, cryptocurrency entrepreneur Ben Delo has pledged £20 million to the London Institute for Mathematical Sciences (LIMS), kicking off the institute’s ambitious £60 million fundraising campaign. The announcement was made on 3 March 2026, highlighting a private-sector response to perceived shortfalls in public funding for basic science.
Ben Delo, a billionaire co-founder of BitMex—one of the world’s leading cryptocurrency trading platforms—has committed an initial £10 million, with an additional £10 million pledged contingent on matching donations from others. This matching element is designed to encourage further philanthropic investment alongside Delo’s contribution.
LIMS, Britain’s independent research institute specializing in physics and mathematics, aims to endow its operations “in perpetuity,” providing sustained financial support to its researchers. Thomas Fink, physicist and director of LIMS, told Research Professional News that the endowment will enable the institute “to grow, to increase the areas of research that we can work on [and] allow us to be more ambitious.”
Addressing the impetus behind Delo’s generosity, Fink noted a growing emphasis from governments in Europe, including the UK, on applied scientific research rather than fundamental science. “We can’t trust governments to support basic science,” he said, underscoring a need for alternative funding sources. Delo echoed this concern, describing the UK’s approach to scientific funding as “lacklustre and inconsistent.” He emphasized his desire to see greater investment in fundamental physics and mathematics, fields he believes are often overlooked.
Delo also pointed out that his decision to make the latter half of his pledge conditional on additional philanthropy was intentional. He hopes this strategy will incentivize other donors to recognize and support the value of LIMS’s work.
The fundraising initiative is also tied to efforts to attract international scientific talent. Fink explained that since “science is a global market” and many LIMS researchers hail from countries such as Ukraine and Russia, the endowed security would allow the institute to expand its ambitions. In particular, LIMS plans to attract more researchers from the United States to strengthen its academic team. Fink noted that political and funding challenges in America present an opportunity for the UK to “shine brightly and push science forward and allow scientists to thrive.”
Ben Delo’s involvement with LIMS dates back several years. His initial contribution included helping the institute acquire specialized Japanese chalk renowned for its superior quality on blackboards, a small but telling detail reflecting LIMS’s commitment to providing researchers with the best tools. “This caught my eye—that they care about the small details and giving researchers what they need,” he reflected.
This large private donation and the associated fundraising campaign come at a time of growing discussion about the balance between applied and fundamental research funding worldwide. As governments shift priorities toward immediate technological applications, philanthropic efforts like Delo’s may play an increasingly critical role in sustaining basic scientific inquiry.
The £60 million campaign launched by LIMS promises to secure a stable financial foundation for cutting-edge research in mathematics and physics, fostering innovation free from the constraints of short-term political agendas.
For more information about the London Institute for Mathematical Sciences and its fundraising campaign, visit their official site or Research Professional News’ coverage.
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