The William R. Frist Gate At Vanderbilt Stadium In Nashville, Tn. Vanderbilt University (Also Known Informally As Vandy[6]) Is A Private Research University Located In Nashville, Tennessee, United States. Founded In 1873, The University Is Named In Honor Of Shipping And Rail Magnate Commodore Cornelius Vanderbilt, Who Provided The School Its Initial $1 Million Endowment Despite Having Never Been To The South.