South Park Commons Plans India Fund

South Park Commons (SPC), a California-based technical community for startup founders, is raising $40 million (about ₹340 crore) for an India-focused fund to invest in early-stage ventures.

- Roshan Abraham

The startup community has established the South Park Commons India Fund to invest in early-stage Indian companies, as per a filing with the US Securities and Exchange Commission.

SPC, founded by former Facebook engineers Ruchi Sanghvi and Aditya Agarwal, forayed into India in June last year after teaming up with Flipkart co-founder Binny Bansal.

In September, it appointed Prateek Mehta as a partner in Bengaluru to lead SPC India, its first community location outside the U.S.