Mé College (grwa tshang smad) as an institution was founded by Künkhyen Jangchup Bumpa (kun mkhyen byang chub ’bum pa), aka Jangchup Özer (byang chub ’od zer, fifteenth century), a disciple of one of the early holders of the Sera (se ra) throne, a figure largely responsible for the founding of philosophical studies at Sera, Gungru Gyeltsen Zangpo (gung ru rgyal mtshan bzang po, 1383-1450).
As with Jé College (grwa tshang byes), the assembly hall of Mé College was not constructed until two centuries after the founding of the college. The regent of the Eighth Dalai Lama, the Seventh Demo Rinpoché (de mo rin po che), Delek Gyatso (bde legs rgya mtsho, d. 1777) built the assembly hall in 1761. Extensive damage occurred to the building as a result of a fire on at least one occasion after its founding, but the temple was restored. The Mé College assembly hall houses the chapel of the protector deity Taok (tha ’og), where the rituals related to the Mé tutelary deity, Vajrabhairava, are also performed.