St. Ambrose University is a private Catholic university in Davenport, Iowa. It was founded as a school of commerce for young men in 1882. St. Ambrose was founded as a seminary and school of commerce for young men in 1882, known as St. Ambrose Academy. It owes its beginning to the first Bishop of Davenport, John McMullen, who founded it under the a…St. Ambrose University is a private Catholic university in Davenport, Iowa. It was founded as a school of commerce for young men in 1882. St. Ambrose was founded as a seminary and school of commerce for young men in 1882, known as St. Ambrose Academy. It owes its beginning to the first Bishop of Davenport, John McMullen, who founded it under the auspices of the Diocese of Davenport. The affiliation remains strong today.