# Circle Up: portfolio, investments and team

> Circle Up is a hedge fund based in Türkiye. 33 investments on record, 1 in the last 12 months, latest Jun 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/circle-up (Millionrounds; every figure on the page links to its filing or article)

Türkiye · [Investor](https://millionrounds.com/investors)

# Circle Up

Last cheque observed Jun 2026; 33 cheques on record.

Deploying now New fund $57M, Mar 2022 Hedge fund

Venture Series B Series A Education Management

Deploying now

**50%** of best year **1** **cheques in 12 months**, 33 on record

Since the last cheque **147** days **00** hrs **00** min **00** sec

Median round **$4.8M** Rounds led **0 of 33** Sole investor **12 rounds** Mostly in **United States, 86%**

Pitch Circle Up

## Circle Up highlights

- 01 1 cheques in the last 12 months
- 02 Mostly Venture and Series B: 72% of its rounds
- 03 Sole investor in 12 rounds, median $5.6M

## What they do

- **Type:** Hedge fund (from a list, unverified)
- **Cheque size:** Not stated
- **Sectors:** Education Management
- **Based in:** Istanbul, Türkiye
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **33 appearances**

- **2026** 1 round
- **Jun** **[Los Sundays Tequila](https://millionrounds.com/company/los-sundays-tequila)** Venture · US **Undisclosed** Sole investor
- **2025** 1 round
- **Feb** **[Serenity Kids](https://millionrounds.com/company/serenity-kids)** Venture · US **Undisclosed** Sole investor
- **2024** 1 round
- **Apr** **[Wilde Brands](https://millionrounds.com/company/wilde-brands)** Series A · US **$20M** Sole investor
- **2023** 4 rounds
- **Oct** **[Splash Wines](https://millionrounds.com/company/splash-wines)** Crowdfunding · US **$987K** With 1 other
- **Jul** **[Nomad](https://millionrounds.com/company/nomad)** Crowdfunding · BR **$172K** With 1 other
- **Jun** **[True Made Foods](https://millionrounds.com/company/true-made-foods)** Grant · US **$550K** With 2 others
- **Jan** **[Partake Brewing](https://millionrounds.com/company/partake-brewing)** Venture · CA **Undisclosed** With 1 other
- **2022** 8 rounds
- **Dec** **[IQ Bar](https://millionrounds.com/company/iq-bar)** Series B · US **$6.2M** With 1 other
- **Dec** **[Heyday](https://millionrounds.com/company/heyday)** Series B · US **$12M** With 2 others
- **Dec** **[Open Water](https://millionrounds.com/company/openwater)** Venture · US **$2.0M** With 1 other
- **Sept** **[Barnana](https://millionrounds.com/company/barnana)** Venture · US **$400K** With 1 other
- **May** **[Ohza](https://millionrounds.com/company/ohza)** Venture · US **Undisclosed** With 1 other
- **Apr** **[Koia](https://millionrounds.com/company/koia)** Venture · US **Undisclosed** Sole investor
- **Apr** **[Kosas](https://millionrounds.com/company/kosas)** Venture · US **$12M** With 3 others
- **Feb** **[Everything Legendary](https://millionrounds.com/company/everything-legendary)** Series A · US **$6.0M** With 1 other
- **2021** 5 rounds
- **Dec** **[Cora](https://millionrounds.com/company/cora)** Venture · US **$7.5M** Sole investor
- **Sept** **[Hylete](https://millionrounds.com/company/hylete)** Venture · US **Undisclosed** With 1 other
- **Aug** **[Miyoko’s Kitchen](https://millionrounds.com/company/miyoko-s-kitchen)** Series C · US **$52M** With 1 other
- **Aug** **[Three Spirit](https://millionrounds.com/company/three-spirit)** Seed · GB **$3.7M** Sole investor
- **May** **[Rowdy Energy](https://millionrounds.com/company/rowdy-energy)** Venture **$13M** Sole investor
- **2020** 1 round
- **Jun** **[Pop & Bottle](https://millionrounds.com/company/pop-and-bottle)** Venture **$3.0M** With 1 other
- **2019** 3 rounds
- **Jul** **[Wild Friends Foods](https://millionrounds.com/company/wild-friends-foods)** Seed **$550K** With 1 other
- **Jul** **[nutpods](https://millionrounds.com/company/nutpods)** Growth **$33M** With 1 other
- **Apr** **[Hum Nutrition](https://millionrounds.com/company/hum-nutrition)** Series B · US · Riz7 **$15M** With 4 others
- **2018** 3 rounds
- **Nov** **[Sustain](https://millionrounds.com/company/sustain)** Venture **Undisclosed** Sole investor
- **May** **[REBBL](https://millionrounds.com/company/rebbl)** US · Prnewswire **$20M** With 2 others
- **Apr** **[GUIDEBOAT](https://millionrounds.com/company/guideboat)** Venture **$2.0M** Sole investor
- **2017** 1 round
- **Dec** **[Tio Gazpacho](https://millionrounds.com/company/tio-gazpacho)** Series B **$1.7M** Sole investor
- **2016** 3 rounds
- **Nov** **[Green Zebra Grocery](https://millionrounds.com/company/green-zebra-grocery)** Venture **Undisclosed** With 1 other
- **Sept** **[Greycork](https://millionrounds.com/company/greycork)** Debt **$585K** With 1 other
- **Jul** **[Pinrose](https://millionrounds.com/company/pinrose)** Venture **Undisclosed** Sole investor
- **2015** 2 rounds
- **Jul** **[DreamDry](https://millionrounds.com/company/dreamdry)** Venture **Undisclosed** Sole investor
- **Jun** **[Tava Indian Kitchen](https://millionrounds.com/company/tava-indian-kitchen)** Series A · US **$4.5M** With 4 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **11 named**

AH **Asher Hochberg** Managing Director of the General Partner i Filing they signed

BL **Ben Lee** Manager i Filing they signed

BL **Benjamin Lee** Managing Director i Filing they signed

JY **Jayson Yuan** Manager i Filing they signed

KH **Karen Howland** Managing Director i Filing they signed

LE **Leroy Eakin** General Partner i Filing they signed

MP **Michael Poole** Managing Director of the General Partner i Filing they signed

NR **Nicholas Rockwell** Managing Director of the General Partner i Filing they signed

PR **Patrick Robinson** Managing Director i Filing they signed

RE **Rory Eakin** Manager i Filing they signed

RC **Ryan Caldbeck** Manager i Filing they signed

We also hold **9** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

New fund on file

**$57M**

raised in Mar 2022

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Venture Series B Series A

Median round joined **$4.8M** the round, not its cheque Alone, median **$5.6M**

Led 0 of 33 rounds **0%**

- **Sole investor:** 12 rounds
- **Last cheque:** Jun 2026

Rounds by stage said on their site

- Venture *17*
- Series B *4*
- Series A *3*
- Seed *2*
- Crowdfunding *2*
- Debt *1*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Circle](https://millionrounds.com/fund/circle) 3
- [VMG Partners](https://millionrounds.com/fund/vmg-partners) 2

**Pitching Circle Up?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Circle Up. A count of rooms they were both in, not a relationship either has claimed.

[**Circle** Hedge fund **3** rounds together](https://millionrounds.com/fund/circle)[**VMG Partners** VC firm **2** rounds together](https://millionrounds.com/fund/vmg-partners)

## Recently backed

The latest companies Circle Up put money into.

[**Los Sundays Tequila** Jun 2026](https://millionrounds.com/company/los-sundays-tequila)[**Serenity Kids** Feb 2025](https://millionrounds.com/company/serenity-kids)[**Wilde Brands** $20M · Apr 2024](https://millionrounds.com/company/wilde-brands)[**Splash Wines** $987K · Oct 2023](https://millionrounds.com/company/splash-wines)[**Nomad** $172K · Jul 2023](https://millionrounds.com/company/nomad)[**Partake Brewing** Jan 2023](https://millionrounds.com/company/partake-brewing)

## Mentioned on podcasts

Episodes that name Circle Up in their description, not their title.

- [Invest Like the Best](https://millionrounds.com/podcasts/invest-like-the-best) 30 Oct 2018 · 1h 12m Ryan Caldbeck – Quant in Private Markets - [Invest Like the Best, EP.110] With [Ryan Caldbeck](https://millionrounds.com/person/ryan-caldbeck) Mentions [Circle Up](https://millionrounds.com/fund/circle-up) Apple PodcastsShow page

## Quick answers about Circle Up

### What does Circle Up invest in?

Circle Up invests most often at Venture and Series B (72% of the rounds on record), in sectors such as Education Management.

### How active is Circle Up?

33 investments on record, 1 of them in the last 12 months. The most recent was in Jun 2026.

### What has Circle Up invested in recently?

Its most recent investments on record: Los Sundays Tequila (Venture, Jun 2026), Serenity Kids (Venture, Feb 2025) and Wilde Brands (Series A, Apr 2024).

### How big are Circle Up's cheques?

The median round it joins is $4.8M.

### Does Circle Up lead rounds?

Rarely, if at all: none of its 33 investments on record names it as the lead.

### Where does Circle Up invest?

Most of the companies it backs are in the United States (86%).

### Is Circle Up investing now?

Yes: it is actively investing, with 1 investments in the last 12 months.

### Who does Circle Up invest alongside?

Most often Circle (3 rounds together) and VMG Partners (2 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=circle-up) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=circle-up)