Unacademy founders raise ₹700 Cr Longshot Capital fund for AI and deeptech startups
Gaurav Munjal and Roman Saini have lined up about ₹250-300 Cr so far and target a first close in January 2027.
The 30-second read
- Unacademy's Gaurav Munjal and Roman Saini are raising a ₹700 Cr fund, Longshot Capital.
- About ₹250-300 Cr is committed, and the first close is targeted for January 2027.
- It will back 25-28 seed and pre-Series A AI and deeptech startups.
IllustrationUnacademy founders Gaurav Munjal and Roman Saini are raising a ₹700 Cr venture capital fund called Longshot Capital. It will invest in AI and deeptech startups. The Economic Times reported this, citing people with knowledge of the matter. Inc42 and Indian Startup News also covered it. About ₹250-300 Cr has been secured so far, and the first close is targeted for January 2027. Inc42 first reported that Munjal and Saini declined to comment.
The fund is a Category II AIF based in Bengaluru. It plans to back 25-28 startups at seed and pre-Series A, with cheques of $500,000 to $1.5 million for 8-12% ownership. Money will be deployed over three years, and the fund will run for 10-11 years. The focus is AI-led businesses and deeptech, including manufacturing, space, defence and robotics. Consumer and retail are out.
Munjal is co-founder and CEO of Unacademy and will be a part-time general partner. Saini, also a co-founder, is a general partner and will run Longshot full-time. The two have made over ₹25 Cr of angel investments across 200+ cheques. On consumer tech listings, Munjal used the words "spectacular outcomes", as reported by Inc42 and Indian Startup News.
The fund comes as Unacademy changes hands. The upGrad deal is all-stock, a little over $200 million, or about ₹1,955 Cr, which is more than 90% below the peak value. Indian Startup News puts completion at 1 September, while Inc42 says September.
Why it matters
Indian AI and deeptech founders at seed and pre-Series A stage could get a new domestic source of early capital. It also shows Indian founders becoming institutional fund managers.
The data
| Item | Detail |
|---|---|
| Target size | ₹700 Cr |
| Commitments so far | About ₹250-300 Cr |
| Stage | Seed and pre-Series A |
| Cheque size | $500,000 to $1.5 million |
| Ownership | 8-12% |
| Startups | 25-28 |
| Deployment | Over three years |
| Fund life | 10-11 years |
