South Park Commons (SPC), a renowned technical community and early-stage venture fund, is making strides in the Indian market with an ambitious $40 million India-focused fund, according to filings with the Securities and Exchange Commission (SEC). While the final fund size has yet to be confirmed, this marks a significant development for SPC’s global expansion.
TechCrunch, which first reported the initiative, highlighted that the fundraising comes just over six months after SPC’s official entry into India in June 2024. The firm launched its first international hub in Bengaluru, partnering with Flipkart co-founder Binny Bansal to establish a strong foothold in the country.
Founded in 2015 by Ruchi Sanghvi, the first female engineer at Facebook and a former VP of Operations at Dropbox, SPC offers a unique platform for startup founders, technologists, and researchers to navigate their early career stages. Sanghvi, alongside Aditya Agarwal, former CTO of Dropbox, expanded SPC’s mission by launching the SPC Fund in 2018.
SPC’s fundraising efforts reflect a steady trajectory of growth. Its first fund of $50 million debuted in 2018, followed by a second fund of $150 million in 2020. The group supports its members through two tailored programs: one for entrepreneurs not seeking direct funding and another offering up to $1 million in financial support for startup founders.
Currently, SPC boasts a robust community of 175 active members and over 800 alumni. Strengthening its presence in India, SPC appointed Prateek Mehta, formerly associated with Angel One, as the head of its India operations in September 2024.
This strategic move signals SPC’s commitment to fostering innovation in India’s burgeoning startup ecosystem, reinforcing its mission to provide a nurturing environment for early-stage ventures worldwide.
