Circulus Stride Forward Fund — Stride Ventures | wisefolio

Circulus Stride Forward Fund

The Only Way to Move is Forward

IN/AIF2/25-26/2000Cat II

Private equity, private credit and real-estate funds that don't employ leverage except for operating needs. The largest AIF category.

Overview

About

Circulus Stride Forward Fund (IN/AIF2/25-26/2000) is a SEBI-registered Category II Alternative Investment Fund (registered December 26, 2025) managed by Stride Ventures India Private Limited — the India AIF manager entity of Stride Ventures, India's leading venture debt fund. Founded in 2018 by Ishpreet Singh Gandhi, Stride Ventures pioneered structured debt solutions for startups in India and has grown into a global credit fund with offices in India, Abu Dhabi, Singapore, and London, and a portfolio spanning the GCC, South-East Asia, and the UK. Across its fund series (Fund I: USD 50M, Fund II: USD 200M, Fund III: USD 164M, Fund IV launched 2024), Stride has partnered with 172+ companies including unicorns Zepto, Perfios, Money View, Ather Energy, BlueStone (IPO), Sugar Cosmetics, Spinny, Zetwerk, and Bira. The fund has received multiple APEX Awards for Venture Debt Fund of the Year and the IVCA Overall Best Performance, Venture Debt Fund of the Year award. The SEBI AIF is registered at 4B-03, DLF Corporate Park, Near Guru Dronacharya Metro Station, Sector 24, Gurugram – 122002, Haryana.

Investment Philosophy

Stride Ventures provides non-dilutive, founder-friendly capital solutions to enable entrepreneurs to build and scale industry-leading companies. The firm's philosophy is that venture debt complements venture capital by providing growth capital without equity dilution — preserving founder ownership while extending runway and enabling faster scaling. Stride's underwriting is built on a rigorous, proprietary process and industry-first deal structures, balancing attractive LP returns with risk mitigation through diversification and close portfolio monitoring. The fund focuses on high-growth, sponsor-backed ventures across FinTech, ConsumerTech, B2B Commerce, HealthTech, and Cleantech, targeting companies with venture capital backing and proven traction.

Team— 3

Apoorva Sharma

Co-Founder & Managing Partner

Apoorva Sharma is Co-Founder and Managing Partner at Stride Ventures, one of the first Indian women to hold the position of Managing Partner at a venture debt fund. She oversees fundraising, investor relations, and deal sourcing, and has led landmark deals across FinTech, Consumer, B2B Commerce, and HealthTech. She previously worked at HSBC (debt capital markets) and Xander Finance (deal sourcing and structuring). She holds a PGDM from IIM Shillong and is a CFA charterholder.

Pankaj Kwatra

SEBI Contact Person

Pankaj Kwatra is the designated SEBI contact person for Circulus Stride Forward Fund.

Ishpreet Singh Gandhi

Founder & Managing Partner

Ishpreet Singh Gandhi is the Founder and Managing Partner of Stride Ventures. He pioneered debt solutions for startups in India in 2015 (as a banker) and founded Stride Ventures in 2018. Under his leadership, Stride has grown from its first AIF registration to a USD 500M+ multi-fund global credit platform across India, GCC, Southeast Asia, and the UK.

Registration

SEBI Registration

SEBI-registered

Reg. NumberIN/AIF2/25-26/2000

VintageDec 2025

Valid ToPerpetual

Contact PersonPankaj Kwatra

Address4B 03, DLF Corporate park, Near Guru Dronacharya metro station, Sector 24,, Gurugram, Haryana, 1222010

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