It won the account following a three-way pitch against two undisclosed agencies.
Story has been briefed to develop creative and strategic advertising for the Edinburgh Fund, which is charged with enhancing the university's research and teaching facilities.
Story's debut campaign, which breaks this month, will aim to optimise donations from the university's worldwide alumni base of 145,000. A direct marketing pack will be dispatched to 30,000 pre-selected former students.
The inspiration for the pack is the former Edinburgh University student Robert Louis Stephenson. A postcard of Edinburgh street scenes in the university's corporate colours of blue, amber and gold forms the backdrop to the copy, which tells part of Stephenson's life story. The pack also contains a brochure showing old Georgian buildings.
The mailpack was written by Ailsa Jones and Olivia Jones and art directed by Sheryl Newsome and Roisin O'Shea.
Future drives will be centred on key university events and will expand to include internet, press and poster elements.