Highlights
South Park Commons Launches India-Focused Fund
South Park Commons (SPC), a pioneering technical community and early-stage venture fund, is embarking on a fundraising initiative specifically aimed at India, as indicated by recent filings with the Securities and Exchange Commission (SEC).
As initially reported by TechCrunch, the objective for this fund is set at $40 million, although the final target amount remains to be confirmed.
This fundraising endeavour follows SPC’s entry into the Indian market last June, marking a significant expansion. The firm inaugurated its first international office located in Bengaluru in collaboration with Binny Bansal, co-founder of Flipkart.
Founders and Vision
Founded in 2015 by Ruchi Sanghvi, who made history as Facebook’s first female engineer and previously served as VP of Operations at Dropbox, SPC offers a constructive platform for startup founders, technologists, and researchers to effectively navigate the initial stages of their careers. Aditya Agarwal, former CTO of Dropbox, also played a pivotal role in establishing the SPC Fund in 2018.
Expansion into the Indian Market
This fundraising initiative follows SPC’s entry into the Indian market, which took place in June, marking its first international venture outside the United States. The Bengaluru office was launched in partnership with Binny Bansal, co-founder of Flipkart.
Funding Milestones
SPC has achieved significant funding milestones:
- Its inaugural fund, totalling $50 million, was launched in 2018.
- A second fund, valued at $150 million, followed in 2020.
Programs Offered
The group features two distinct programs:
- A programme tailored for entrepreneurs not seeking funding.
- A programme for founders offering financial support of up to $1 million.
Currently, SPC is proud to have 175 active members and over 800 alumni. In September, the organisation appointed Prateek Mehta, formerly of Angel One, as the leader of its India branch.