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The Venture Codex

Susquehanna International Group

401 City Avenue, Bala Cynwyd, PA, 19004, United States

Overview

Susquehanna is a global quantitative trading firm founded by a group of friends who share a passion for game theory and probabilistic thinking. Our rigorous and analytical approach to decision making has led Susquehanna to become one of the largest and most successful proprietary trading firms in the world. In our offices around the globe, our employees are relentless problem solvers who collaborate to make optimal decisions.

Total investments
49
Lead investments
14
Investments · 12mo
7
Active investors
11

Sector focus

  • Finance
  • Financial Services
  • FinTech
  • Venture Capital
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Investment portfolio

  • Deccan AI Experts

    Participated · Series A · Apr 2026

    Deccan AI Experts operates a global network of experts who label data, review model outputs, and run real‑world evaluations to help build accurate and reliable AI systems. The company supports projects across code, agents, and the physical world and works with several leading technology firms, including a majority of the “Mag 7.” Deccan AI reported 10x growth in the prior year and says it has more than 1M contributors across its community. It is Bay Area–based while concentrating much of its workforce in India to manage quality in a fragmented training market. Following its $25M Series A, the company plans to invest heavily in processes, tooling, and people and to accelerate hiring across the U.S. and India. Deccan AI is focused on expanding work in enterprise and physical intelligence and deeper, high‑judgment evaluation projects for frontier models.

  • Deccan AI

    Participated · Series A · Mar 2026

    Founded in October 2024, Deccan AI supplies post-training services including data generation, expert feedback, evaluations, and building reinforcement learning environments. It offers products such as an evaluation suite called Helix and an operations automation platform, and serves both frontier AI labs and enterprises. The company has onboarded about 10 customers and counts Google DeepMind and Snowflake among its clients, running a couple dozen active projects at a time. Deccan operates from the San Francisco Bay Area with a large operations team in Hyderabad, employs roughly 125 people, and leverages a network of more than 1 million contributors, of whom 5,000 to 10,000 are typically active each month. The startup grew 10x over the past year and is at a double-digit million-dollar revenue run rate, with about 80% of revenue coming from its top five customers. Contributor pay on the platform ranges from about $10 to $700 per hour, with top contributors earning up to $7,000 a month.

  • Gushwork

    Led · Seed · Feb 2026

    Founded in 2023, Gushwork deploys a network of AI agents to automatically generate SEO-optimized content, build 10–20 backlinks per client through 200–300 partner sites, and track inbound leads in an integrated CMS. The Delaware-headquartered company, with a 70-person team in India, serves more than 300 paying customers—95% of them in the U.S.—mainly high-ticket B2B service providers, industrial distributors, and contract manufacturers. Subscriptions average $800–$900 per month, translating to $9,000–$10,000 in annual contract value. After only three months of offering its AI search product, Gushwork is running at roughly $1.5 million in annualized recurring revenue and is growing 50%–80% month over month, aiming for $3 million–$3.5 million ARR within the next quarter. Internal data show that AI-based search now represents 20% of website traffic but delivers 40% of inbound leads for clients, with some customers closing up to $350,000 in new contracts. More than 800 additional businesses sit on the company’s waitlist. The new capital will fund engineering hires, model accuracy improvements, and expanded go-to-market efforts.

  • Amagi Media Labs

    Participated · Equity · Jan 2026

    Founded in 2008, Amagi Media Labs provides cloud-based software that helps broadcasters and streaming platforms manage, distribute, and monetise video across smart TVs, smartphones, and other digital endpoints. The company operates three business lines—cloud modernisation, streaming unification, and monetisation & marketplace—and currently serves more than 45 % of India’s top-50 listed media and entertainment companies by revenue. Amagi booked ₹1,162 crore in revenue from operations in FY25, reflecting a 31 % CAGR between FY23 and FY25, and earned ₹6.40 crore in profit on ₹704.80 crore revenue during the six months ended 30 September 2025. At the upper end of its IPO price band, the firm is valued at over ₹7,800 crore. Management plans to deploy ₹550 crore of fresh capital to bolster technology and cloud infrastructure, pursue inorganic growth via acquisitions, and fund general corporate purposes over FY26-FY28.

  • ETHGas

    Participated · Seed · Dec 2025

    ETHGas provides settlement infrastructure that makes every unit of Ethereum blockspace—computation and storage—tradeable through a newly launched Blockspace Futures Market. By offering transaction futures ("pre-confirmations") across multiple maturities and 3 ms settlement latency, the platform lets wholesale Ethereum participants hedge transaction-pipeline risk, boost staking yields, and smooth gas-price volatility. The company is collaborating with the Ethereum Foundation and heeding Vitalik Buterin’s call for a dedicated gas-futures market. Led by former Morgan Stanley Asia structured-derivatives head Kevin Lepsoe, ETHGas’ team includes engineers and quants from Morgan Stanley, Deutsche Bank, HKEx, and Lockheed Martin. At launch, ETHGas secured US$800 million in commitments from validators, block builders, and relays to seed liquidity and product development. Its mission is to evolve Ethereum into a real-time network where end users can hedge gas costs, unlock yield opportunities, and enjoy frictionless blockchain interactions. The company has raised a US$12 million seed round to fund further marketplace expansion and product enhancements.

Team