South Park Commons

South Park Commons (SPC) is an American venture capital firm and technical community founded in 2016 by Ruchi Sanghvi (Facebook's first female engineer) and Aditya Agarwal (former Dropbox CTO). SPC focuses on the "minus one to zero" phase — the pre-ideation stage of company building — earning it the label of "anti-incubator". It operates in San Francisco, New York, and Bengaluru, and provides up to $400K in founder fellowship capital. Fund III raised $275M in 2025, and Fund IV targeting $500M began in January 2026.