South Park Commons shake hands to collaborate with Binny Bansal
A technical community and early stage venture fund South Park Commons (SPC) has recently announced their about the launch of their first international location outside the US in India’s tech city Bengaluru. For launching this office they have collaborated with e-commerce giant Flipkart’s co-founder Binny Bansal.
The firm was founded by by Ruchi Sanghvi, the first female engineer at Facebook and former VP of operations at Dropbox in 2015. The company is offering a supportive environment or ecosystem for the country’s startup founders, technologists, and researchers to navigate the early stage of their careers.
Sangvi teams up with Aditya Agarwal, former CTO of Dropbox, in 2018. The company is present in busiest locations of the world San Francisco and New York City.
Commenting about the firm, Aditya Agarwal stated, “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.”
Bengaluru possesses all the necessary elements to emerge as the next prominent technology hub, according to the company. The SPC model necessitates a substantial pool of exceptional technical talent, operators with a track record of success in local enterprises, and a thriving entrepreneurial ecosystem. SPC intends to mirror this focus in India.
With initial members hailing from esteemed companies such as Anthropic and Imbue, along with early engineers from OpenAI. Additionally, the firm expressed its intention to capitalize on the community's renowned status as a preferred choice for early-stage AI researchers and founders.
Sangvi recently unveiled that, PC is also evaluating its expansion into the land of UK. According to the report, SPC has successfully conducted its third funding but it did not disclose the corpus size. SPC’s first fund worth $50 million was launched in 2018 while it launched its second fund worth $150 million in 2020. SPC is also planning an India dedicated fund to back emerging startups.
