Susquehanna International Group launches private equity affiliate
Susquehanna International Group has launched Susquehanna Growth Equity, a private equity group focused on investing in financial technology, software, business services and specialty finance opportunities ands which is set to invest more than USD50m in its first year of operations.
According to the group's associate director Todd Simkin, SGE is part of a larger initiative by Susquehanna, which includes private equity businesses making foreign and domestic investments. The group already includes Heights Capital Management and Susquehanna China Venture Capital & Private Equity, both of which focus on private equity investments.
'Our private equity platform capitalises on the strengths SIG has developed in its trading, institutional brokerage and investment banking businesses,' Simkin says. 'We anticipate this initiative will be synergistic to our other business and provide a significant new engine of growth for our firm.'
SGE will be headed by Amir Goldman and based, like its parent group, in Bala Cynwyd, Pennsylvania. Goldman, who joined SGE upon its formation last June, brings more than 12 years of technology investing and corporate finance experience through positions with TL Ventures, BRM Capital and Robertson Stephens. He has extensive experience investing in cross-border opportunities, particularly with Israeli-based companies developing a North American presence.
The team also includes Vincenzo La Ruffa, who previously invested in technology companies with NGP Energy Technology Partners and EnerTech Capital, and has been involved in more than USD100m of private equity investment in growth companies in the US and the UK.
'We are excited to leverage SIG's global footprint, technology leadership, market insight and trading prowess to build a new franchise in a few rapidly evolving sectors,' Goldman says.
According to Goldman, SGE will focus on expansion stage private equity opportunities in financial technology, business services, and specialty finance. The group will proactively seek investments in the mid-Atlantic region and consider opportunities throughout the US and internationally. Investment sizes will range from USD5m to USD30m per company.
SGE has already made two investments, in Cashedge, which provides online financial applications for banks, credit unions and wealth management firms including include end-to-end online account opening and funding, funds transfer, and data consolidation, and in 29West, which provides high-performance, low-latency messaging solutions for financial institutions.
Susquehanna International Group, a leading US financial institution focusing on trading and market making, investment banking, institutional sales and research, private equity and venture capital, has offices across North America, Europe and Asia. The group, which makes markets in more than 6,000 stocks, is one of the largest US option market makers, the leading sector index options trading firm and one of the largest liquidity providers in ETFs.