South Park Commons (SPC), a renowned tech startup community and early-stage venture fund, has announced its expansion into Bengaluru, marking its first international presence outside the United States. This strategic move aligns with SPC’s vision of supporting early-stage founders and technologists in one of the world’s fastest-growing startup ecosystems.
Founded by tech veterans Aditya Agarwal and Ruchi Sanghvi, SPC is entering the Indian market through a collaboration with Flipkart co-founder Binny Bansal. The announcement was made in a media release on June 13, highlighting the synergy between SPC’s mission and India’s burgeoning tech landscape.
The entry of SPC into India comes at a pivotal time. The country’s startup ecosystem, the third-largest globally, is ripe with opportunities. Venture funds are currently holding over $12 billion in capital, poised to fuel the next wave of innovation. With more than 820 million internet users and over 100 tech unicorns, India’s tech scene is a magnet for global investors and entrepreneurs.
SPC aims to cultivate a nurturing environment for India’s brightest minds, helping them navigate the critical early stages of their careers—the phase where they determine their next big venture. This model is akin to startup incubators, which provide essential resources and mentorship to scale new businesses.
Founded in 2015, SPC started as an informal community for tech professionals before evolving into a venture fund. The initiative was spearheaded by Ruchi Sanghvi, the first female engineer at Facebook and a former vice president of operations at Dropbox, alongside Aditya Agarwal, who served as the chief technical officer at Dropbox. Their combined experience has made SPC a sought-after destination for technical founders at the inception of their startup journeys.
In its initial phase, SPC did not have a dedicated fund. Agarwal and Sanghvi personally invested in early-stage ventures through angel cheques. However, with the launch of its first fund in 2018 and a subsequent one in 2020, SPC formalized its support for budding startups.
Agarwal emphasized the appeal of India’s startup ecosystem, stating, “You can feel the tailwinds here. The Indian startup ecosystem has matured to the point that it can sustain the incredible talent density that makes SPC work. Founders don’t have to move to the US to build world-class, category-creating companies.”
