"I really wanted to support Nodar's family through this tragedy because I can't really imagine what they're going through now," Campbell-Pegg said.
"This was the only way I could think to come up with some type of finance to help to support their family and contribute as well and to show the Olympic spirit and continue his memory as well in the sport."
The day before Kumaritashvili's death Campbell-Pegg criticised the Whistler track, the world's fastest, saying that she felt like a "crash-test dummy".
She said that she hoped lessons would be learned from the tragedy and that athletes from less traditional winter sports nations would get more time to prepare at venues like Whistler.
"I think things will be done," she said. "I think everybody's still trying to process it. I think things will be changed. It will be made safer and better for smaller nations like Georgia and like Australia who are competing in the sport and trying to do better and against the powerhouse nations.
"We'll see a change in the future and in that way I think Nodar's memory will definitely live on."