According to the university, the fund was established to benefit the loved ones of the four students, as well as the "broader Pepperdine community."
The Pepperdine Waves will honor the memory of the four students -- Niamh Rolston, 20, Peyton Stewart, 21, Asha Weir, 21, and Deslyn Williams, 21 -- during the game against Concordia Irvine. The game is set for 7 p.m. Monday at Pepperdine's Firestone Fieldhouse.
"The men's basketball team is humbled by the opportunity to honor Niamh, Peyton, Asha, and Deslyn, as well as our Pepperdine community, by dedicating all the proceeds from our opening season game to the Memorial Fund," head coach Lorenzo Romar said in a statement. "We hope this will inspire more to give and provide comfort to their families and loved ones as we continue to mourn the loss to our Pepperdine family."
PCH crash victims, all sorority sisters, honored during Pepperdine prayer service
Malibu victims, all sorority sisters, honored during prayer service
Donations to the fund can be made online. Tickets for Monday's basketball game are also available online.
The four students, who were all sorority sisters, were killed last month when investigators say a speeding driver lost control of his car and hit several parked cars that then struck the women.
Malibu crash: Driver reached 104 mph before collision that killed 4 Pepperdine students, Gascón says
Fraser Bohm, 22, is charged with four counts of murder and four counts of gross vehicular manslaughter. He has pleaded not guilty.
City News Service contributed to this report.