South Park Commons

About

South Park Commons is a San Francisco-based venture capital firm and technologist community founded in 2016 by Ruchi Sanghvi, Facebook's first female engineer and Dropbox's first female executive. SPC pioneered the '-1 to 0' investment philosophy, helping talented technologists explore and validate ideas before committing to a company. The firm has grown into a roughly 1,200-member global community with hubs in San Francisco, New York City, and Bengaluru, and has approximately $2 billion in assets under management.

Investment Focus

South Park Commons invests in exceptional technologists at the earliest, most ambiguous stage of company formation, before a founder has committed to a specific idea, and partners with them through pre-seed, seed, and now Series A rounds.

With Fund IV, the firm is expanding beyond its original '-1 to 0' territory to lead seed and Series A rounds, take larger ownership positions, and remain actively involved as portfolio companies mature beyond launch.

SPC expects physical AI, robotics, energy, biotechnology, semiconductors, and scientific infrastructure to create significant opportunities for its community, building on a historical portfolio spanning AI, fintech, SaaS, consumer, and Web3/crypto.

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Fund

South Park Commons closed Fund IV at $575 million in August 2026, more than double its $275 million Fund III (closed 2024) and its largest fund to date.

The raise brings SPC's total assets under management to approximately $2 billion. The firm has said its first three funds all rank in the top 10% of their respective vintages.

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Other Information

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Leadership

South Park Commons was founded in 2016 by Ruchi Sanghvi, Founder and General Partner, previously Vice President of Operations at Dropbox and Facebook's first female engineer.

Aditya Agarwal, General Partner, was formerly CTO and VP of Engineering at Dropbox and one of Facebook's first engineers.

The wider investment team includes Evan Tana, Finn Meeks, Jonathan Brebner, Prateek Mehta, Mark Jacobstein, Dylan Itzikowitz, Gopal Raman, Ankit Chowdhary, Rohan Choudhary, and Harshit Madan.

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Investment Strategy

SPC's historical model centers on pre-seed checks of roughly $400,000 for about 7% ownership, paired with a guaranteed $600,000 follow-on investment, a more concentrated bet than typical pre-seed funds, with checks scaling up to $10 million at seed.

Fund IV expands this approach with more capital to lead seed and Series A rounds directly, take larger ownership stakes, and stay an active investor well after founders leave the SPC community, extending support beyond the traditional -1 to 0 stage.

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Notable Investments