Tailored for India,
Fueled by Data
Systematic quantitative investment strategies built on 15+ years of market expertise. Disciplined, data-driven, and designed for the Indian capital markets.
Our Funds
Quantitative investment frameworks built for institutional investors seeking systematic exposure to Indian capital markets.
Stratus Fund
An IFSCA-registered Category III AIF employing systematic quantitative strategies across Indian capital markets. The fund leverages data-driven models and disciplined risk management to navigate diverse market conditions.
Fund Type
Category III AIF
Domicile
GIFT City — IFSC
Investor Caution: Investments in Alternative Investment Funds (AIFs) are subject to market risks and other risks. Past performance is not indicative of future results. There is no assurance or guarantee that the investment objectives of the fund will be achieved. Investors may lose part or all of their invested capital. The fund may not be suitable for all investors. Prospective investors should carefully read the Private Placement Memorandum (PPM) — including risk factors, conflicts of interest, and other disclosures — and consult their own legal, tax, and financial advisors before making any investment decision.
iRage Stratus Fund
An IFSCA-registered Category III AIF employing systematic long-short strategies in Indian markets. The fund aims to leverage data-driven quantitative models and rules-based execution while maintaining disciplined risk management across market conditions.
Why iRage Stratus
Secure Investing
- Designed to navigate both bullish and bearish markets
- Low credit and interest rate risk exposure
- Low probability of monthly drawdown
Easy Liquidity
- Monthly liquidity windows
- Zero exit load
- No lock-in period
Resilient Performance
- Built for resilience across volatile market conditions
- Currency risk hedging framework
- Focus on risk-adjusted outcomes over market cycles
Systematic Strategy
- G-Sec investments for base portfolio construction
- Collateral-backed systematic overlay strategies
- Emphasis on low volatility
The above characteristics are objectives, not guarantees. Past performance is not indicative of future results and returns are not guaranteed.
Strategy & Execution
Market-Neutral Positioning
Systematic identification and capture of mispricings across derivative markets through proprietary quantitative models.
Relative Value Spreads
Systematic capture of basis differentials and spread relationships across instruments.
Delta-Neutral Construction
Balanced positioning targeting price discrepancy convergence, independent of market direction.
The Fund employs systematic long-short strategies to capture relative value opportunities across Indian derivative markets through proprietary quantitative models.
Stratus Leadership Team
Gaurav Raizada
Principal Officer- Co-Founder of iRage; Principal Officer of iRage Investment Management LLP
- 15+ years in quantitative trading and derivatives markets
- Pioneer in India's algorithmic trading ecosystem since 2009
- Visiting faculty at IIM Ahmedabad
- B.Tech Chemical Engineering (IIT Kanpur), PGDM (IIM Lucknow)
Yagya Gupta
Compliance Officer- Oversees compliance for iRage Stratus Fund — regulatory compliance and financial reporting
- 100% adherence to SEBI AIF regulations and IFSC guidelines
- Developed comprehensive compliance frameworks and audit coordination at iRage
- Prior experience: KFin Technologies, EbikeGo, N. Singhal & Company
- MBA (ICFAI Business School, Mumbai), B.Com (IIS University, Jaipur)
Past performance is not indicative of future results. Investment objectives may not be achieved. Returns are not guaranteed. Investments are subject to market and other risks, including the possible loss of the entire invested capital. The strategy may not suit all investors. Please read the Private Placement Memorandum (PPM) carefully before investing.
About GIFT City & IFSCA
The iRage Stratus Fund is domiciled in GIFT City — India's first and only International Financial Services Centre — benefiting from its world-class regulatory and infrastructure ecosystem.
GIFT International Financial Services Centre
Strategically located in Gandhinagar, Gujarat, GIFT City serves as the nation's premier financial services hub and gateway for global capital flows, fostering a world-class ecosystem for financial services and technology.
Strategic Location
Gateway connecting Indian markets with global financial centers.
Regulatory Excellence
Unified regulatory framework under IFSCA for seamless, world-class operations.
Tax Efficiency
Competitive tax regime aligned with leading international financial centers.
World-Class Infrastructure
State-of-the-art facilities with robust technology backbone and co-location services.
Ease of Business
Streamlined processes and single-window clearances for rapid setup.
IFSCA
The International Financial Services Centres Authority serves as the unified regulator for all financial products, services, and institutions within GIFT IFSC — replacing fragmented oversight by RBI, SEBI, PFRDA, and IRDAI.
- Holistic regulatory vision with inter-regulatory coordination
- World-class regulatory environment matching global standards
- Focus on ease of doing business and innovation
- Platform serving regional and global financial markets
iRage & GIFT City
iRage established its GIFT City office in 2023, extending its 15+ year institutional presence to India's premier IFSC. The Stratus Fund benefits from GIFT City's integrated trading, clearing, and regulatory infrastructure — the same ecosystem that supports iRage's broader institutional broking and proprietary trading operations.
GIFT City bridges India's financial markets with the global economy, offering opportunities for international investors.
The iRage Quantitative Edge
15+ years of quantitative expertise, proprietary technology, and rigorous risk management — built by IIT and IIM technocrats for the Indian markets.
Quantitative Research
Data-driven quantitative models and rules-based frameworks designed for systematic investing across Indian capital markets.
Proprietary Technology
In-house technology infrastructure built over 15+ years, enabling disciplined and efficient execution.
Disciplined Risk Management
Multi-layered risk framework with real-time monitoring, automated controls, and position-level oversight across all market conditions.
Data-Driven Approach
Processing extensive financial datasets through rigorous quantitative analysis and continuous model evaluation.
Institutional Grade
Built for sophisticated investors with institutional-quality governance, compliance, and operational infrastructure.
Tailored for India
Strategies purpose-built for the unique dynamics, microstructure, and regulatory landscape of Indian markets.
"The advantage quantitative models bring to investing is rigor, discipline, and the ability to process vast dimensional data beyond human capacity."
Core Philosophy — iRage Invest
Past performance is not indicative of future results. Investment objectives may not be achieved. Investments are subject to market and other risks.
The Minds Behind iRage
Combines deep expertise in trading, fund management and strategy with a background in banking treasury at Veritas Software. A chess master and visiting faculty at IIM Ahmedabad, he brings sharp analytical insight and proven market acumen. He holds a B.Tech from IIT Kanpur and a PGDM from IIM Lucknow.
A sought-after speaker at global algorithmic trading conferences with multi-national experience at Bloomberg, Optiver, and Oracle. A finance faculty at IIM Ahmedabad, he combines industry expertise with academic depth. He holds a B.E. from NIT Surathkal and a PGDM from IIM Calcutta.
Manages trading strategies, drives firm-wide risk and compliance, and builds advanced trading analytics tools. With experience as an independent commodities trader and senior analyst at TCG's Private Equity Fund and Lehman Brothers, he holds a B.Tech from IIT Kanpur and a PGDM from IIM Lucknow.
A former trader with deep experience leading large trading teams and contributing to the Indian derivatives market. He heads Kredent Academy, drives growth at StockEdge, and is a sought-after speaker at IITs and IIMs. A Chartered Accountant, Company Secretary, and PGDM from IIM Indore.