Announcing SPC's $275M Fund III

We are humbled to announce SPC Fund III: $275M to support exceptional founders in the earliest days of their exploration.

Since 2016, we’ve had a simple thesis: greatness emerges when extreme talent density meets innate curiosity. That's why we focus on -1 to 0. SPC exists to find intensely curious builders, bring them together in person at the stage of their journey that is normally most isolating, and support them as they find their life’s work. 

Fund III lets us double down on an approach to helping founders that is both effective and important. We believe that the next decade of progress will feel fundamentally discontinuous from the present. It’s going to be much more illegible, cosmic, and abundant than we can imagine—but only if the most ambitious and technical founders find the most important things to work on.

Too many brilliant people spend years scaling the wrong hill. We give them the community, space, and support to pick the right mountain. Taking -1 to 0 seriously helps you avoid local maxima and find your global maxima. But no one builds something generational alone. Having a tribe of fellow adventurers, each on their own quests but united in supporting each other, makes the journey more joyful, interesting, and likely to lead somewhere worth going. SPC members figure out their life’s work, together, everyday at our community hubs in San Francisco, New York, and Bengaluru. Iron sharpens iron, so find the sharpest iron you can.

Our focus on -1 to 0 is working. SPC Fund I is in the top 5% of its vintage. Fund II is surpassing Fund I. Fund III was oversubscribed and is already outpacing both its predecessors. This is a testament to the 1000 members who built SPC over the last decade and embraced -1 to start ambitious companies like Render, Baseten, Luma, Gamma, Goodfire, Profound, Comun, and Cognition.

We’re grateful to the founders and advisors who have supported us from the earliest days: Mark Zuckerberg, Dylan Field, Mike Krieger, Elad Gil, Nate Blecharczyk, Cal Henderson and many others. We’re grateful to our LPs—founders, endowments, foundations, and global institutions—for their trust and conviction. We will continue building SPC into an institution that helps the most talented founders for decades to come.

But more than anything, we’re honored by the remarkable people who have joined us as members. Fund III is an overwhelming vote of confidence in the founders who choose to go from -1 to 0 at SPC.

We live in an incredible era of technological opportunity. If you’re ambitious, curious, and ready to find the right mountain, you belong at South Park Commons. You are why we raised Fund III. Join us so we can help you turn the illegible into the inevitable.