South Park Commons ready to raise $40 million for India-focused Fund
According to Securities and Exchange Commission (SEC) filings, South Park Commons (SPC), a technical community and early-stage venture fund, is soliciting funds for an India-focused fund.
The development was first reported by TechCrunch, which stated that the fund aims to raise $40 million; however, the exact amount is yet to be decided.
Over six months have passed since SPC joined the Indian market in June, when this fundraising attempt was launched. Working with Binny Bansal, a Co-Founder of Flipkart, the company opened its first overseas location in Bengaluru.
Ruchi Sanghvi, the First Female Engineer at Facebook and a Former Vice President of operations at Dropbox, founded SPC in 2015 with the goal of helping researchers, technologists, and startup founders navigate the early stages of their careers. In 2018, Aditya Agarwal, a former Dropbox CTO, joined Sanghvi in establishing the SPC Fund.
SPC launched its first fund in 2018 with a $50 million valuation, and its second fund with a $150 million valuation in 2020.
The organization provides two programs: one that offers up to $1 million in financial support for founders and one that is intended for entrepreneurs who are not looking for funding.
SPC has more than 800 alumni and 175 active members as of right now. Prateek Mehta, who was previously employed by Angel One, was named by the group in September to lead its India branch.
The development was first reported by TechCrunch, which stated that the fund aims to raise $40 million; however, the exact amount is yet to be decided.
Over six months have passed since SPC joined the Indian market in June, when this fundraising attempt was launched. Working with Binny Bansal, a Co-Founder of Flipkart, the company opened its first overseas location in Bengaluru.
Ruchi Sanghvi, the First Female Engineer at Facebook and a Former Vice President of operations at Dropbox, founded SPC in 2015 with the goal of helping researchers, technologists, and startup founders navigate the early stages of their careers. In 2018, Aditya Agarwal, a former Dropbox CTO, joined Sanghvi in establishing the SPC Fund.
SPC launched its first fund in 2018 with a $50 million valuation, and its second fund with a $150 million valuation in 2020.
The organization provides two programs: one that offers up to $1 million in financial support for founders and one that is intended for entrepreneurs who are not looking for funding.
SPC has more than 800 alumni and 175 active members as of right now. Prateek Mehta, who was previously employed by Angel One, was named by the group in September to lead its India branch.
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