"The Chairman of Stockholms Enskilda Bank, K. A. Wallenberg, and his wife Alice, founded the Knut and Alice Wallenberg Foundation in 1917 with an initial endowment of 20 million Swedish crowns. 30-40 percent of the Foundation's grants relate to high-value research equipment for use within the technical, natural sciences and biomedical fields, and about 50 percent relate to major research projects and substantial scientific networks."