Unacademy co-founders Gaurav Munjal and Roman Saini are planning to raise ₹700 crore for a new venture capital fund, Longshot Capital, focused on artificial intelligence and deep-technology startups. According to The Economic Times, the fund has secured commitments of approximately ₹300 crore and is targeting its first close in January 2027, after which it plans to begin investing. The fundraising target and timeline could change as discussions with potential investors continue.
The proposed fund will focus on early-stage companies developing technologies across AI, advanced manufacturing, space, defence and robotics. Longshot Capital plans to back 25–28 startups at the seed and pre-Series A stages, with initial investments of $500,000 to $1.5 million per company. The initiative marks a new chapter in the founders’ investment activities as they seek to support technology businesses beyond the education sector that established their entrepreneurial careers.
Key Takeaways
- Fund target: Longshot Capital aims to raise ₹700 crore for AI and deeptech investments.
- Initial commitments: The fund has reportedly secured around ₹300 crore so far.
- First close: The founders are targeting January 2027, subject to fundraising progress.
- Investment strategy: The fund plans to support 25–28 seed and pre-Series A startups.
- Target sectors: AI, manufacturing, space, defence and robotics.
- Investment size: Initial cheques are expected to range from $500,000 to $1.5 million.
- Leadership: Roman Saini is expected to manage the fund full-time, while Gaurav Munjal will participate part-time alongside his responsibilities at Unacademy.
What Is Longshot Capital?
Longshot Capital is a planned venture capital fund being established by Unacademy co-founders Gaurav Munjal and Roman Saini. Unlike an operating startup, which develops and sells products or services, a venture capital fund invests money in other companies in exchange for equity or related investment rights.
The fund’s proposed ₹700 crore corpus would allow it to support multiple early-stage companies over several years. Its focus on AI and deep technology suggests an emphasis on businesses building technical capabilities, rather than primarily consumer-facing brands or conventional retail ventures.
According to The Economic Times and subsequent reporting by Inc42, Longshot Capital is structured as a Category II Alternative Investment Fund (AIF). The fund has reportedly received commitments of approximately ₹250 crore to ₹300 crore, although its fundraising remains ongoing.
A first close is the initial stage at which a fund can begin deploying capital, subject to its structure and applicable requirements. The targeted January 2027 date is not a guarantee that all ₹700 crore will have been raised by then.
How Much Will Longshot Capital Invest in Startups?
The fund plans to invest in 25–28 startups at the seed and pre-Series A stages. These are early phases of a company’s development, when founders are validating their products, building initial teams and establishing evidence of market demand.
| Fund detail | Reported plan |
|---|---|
| Fund name | Longshot Capital |
| Target corpus | ₹700 crore |
| Commitments secured | Approximately ₹250–300 crore |
| Target first close | January 2027 |
| Planned portfolio | 25–28 startups |
| Investment stages | Seed and pre-Series A |
| Initial investment size | $500,000–$1.5 million |
| Target ownership stake | Approximately 8–12% |
| Planned investment period | Three years |
| Expected fund lifespan | 10–11 years |
Source: The Economic Times and Inc42. These are reported plans and may change.
The proposed cheque sizes would allow Longshot to take meaningful stakes in young companies while leaving room for subsequent funding rounds. Its reported three-year deployment period means it intends to allocate capital to portfolio companies relatively early in the fund’s life.
The longer 10–11-year lifespan is also relevant to deeptech investing. Companies developing advanced industrial systems, robotics or space technologies may need years of research, testing, certification and commercialization before generating significant revenue or reaching an exit.
Which Sectors Will Longshot Capital Target?
The fund plans to concentrate on five broad areas.
1. Artificial intelligence
AI is expected to be a central investment theme. Potential opportunities include AI-native software, enterprise automation, developer tools and applications that use AI to improve productivity.
For investors, the challenge is distinguishing companies with sustainable technical or distribution advantages from businesses that rely primarily on third-party models and can be easily replicated.
2. Advanced manufacturing
India’s manufacturing ambitions create opportunities for startups working on industrial automation, precision engineering, materials, production software and specialized equipment.
These businesses can require substantial upfront investment, but successful products may serve customers across several industries.
3. Space technology
Space startups develop technologies for satellites, launch systems, Earth observation, communications and related services. Their products may have applications in agriculture, logistics, defence and environmental monitoring.
However, space businesses often face long development cycles, demanding technical requirements and significant capital needs.
4. Defence technology
Defence-focused startups can develop autonomous systems, robotics, sensors, communications equipment and other technologies for security and military applications.
These companies may benefit from demand for domestic capabilities, but procurement processes, testing requirements and regulatory considerations can make commercialization complex.
5. Robotics
Robotics combines software, AI, electronics and mechanical engineering. Potential applications include factory automation, warehouse operations, inspection and specialized industrial tasks.
The commercial opportunity depends on whether startups can deliver reliable systems that justify their cost compared with existing processes or equipment.
Why the Fund Matters for India’s AI and Deeptech Ecosystem
India’s startup ecosystem has developed a substantial base of software and internet businesses. Deeptech represents a different investment challenge because companies often need to develop proprietary technology, build physical prototypes and complete lengthy testing before reaching commercial scale.
A dedicated fund could provide capital to startups that might not fit the investment timelines or risk profiles of investors focused on consumer internet businesses.
Longshot’s proposed investment range also suggests it intends to support companies before they reach the scale required by later-stage venture funds. If the plan proceeds, its investments could help founders hire technical teams, validate products and prepare for subsequent funding rounds.
However, the fund’s impact will depend on the capital it ultimately raises, the quality of its investment decisions and the ability of portfolio companies to turn technical progress into sustainable businesses. A large announced target does not itself guarantee investment returns or successful outcomes.
Munjal and Saini’s Experience as Startup Investors
The fund builds on the founders’ existing angel-investment activity. According to reporting by The Economic Times, Munjal and Saini have collectively made more than 200 angel investments, deploying over ₹25 crore.
Their reported portfolio includes businesses such as Pine Labs, Dhan, Seekho, Ultrahuman, Snabbit, Swish, STAGE and Third Wave Coffee.
Angel investing generally involves individuals investing their own capital in early-stage companies. A formal venture capital fund differs because it pools capital from outside investors and manages investments under a defined mandate, governance structure and fund lifecycle.
Moving from angel investments to a dedicated fund would allow the founders to pursue a more structured strategy, with a specific sector focus and a larger pool of capital.
The proposed division of responsibilities also separates the fund’s day-to-day management from Munjal’s ongoing role at Unacademy. Saini is expected to lead Longshot Capital full-time, while Munjal will participate part-time.
What Happened to Unacademy?
The planned fund comes after a major change in the founders’ business environment. In 2026, education technology company upGrad completed an all-stock acquisition of Unacademy’s parent company, Sorting Hat Technologies, according to reporting by the Financial Express.
The transaction was reported at a valuation slightly above $200 million, substantially below Unacademy’s peak valuation of approximately $3.44 billion in 2021. The deal covered Unacademy and related businesses, which were expected to retain their brands and operate independently.
The proposed Longshot Capital initiative represents a separate investment activity rather than a new education platform. Its focus on AI and deeptech points toward technology sectors where the founders see opportunities beyond their original edtech business.
The two developments also illustrate how startup founders can move into different roles over time, including operating companies, advising businesses and investing in other entrepreneurs.
The Bigger Picture
Longshot Capital’s planned ₹700 crore fund comes as investors increasingly examine AI and deeptech opportunities in India. While AI software can sometimes reach customers relatively quickly, companies building robotics, industrial technology, space systems or advanced hardware often require patient capital and specialized expertise.
A dedicated fund could help address part of that financing need, particularly at the seed and pre-Series A stages. Its sector focus will also test whether the founders can translate their operating and angel-investment experience into a larger institutional investment strategy.
The next milestones are fundraising progress, the targeted first close and the selection of the fund’s initial portfolio companies. Until these developments are confirmed, the ₹700 crore figure should be treated as a fundraising target rather than capital already available for deployment.
FAQs
1. What is Longshot Capital?
Longshot Capital is a planned venture capital fund established by Unacademy co-founders Gaurav Munjal and Roman Saini. It aims to invest in early-stage AI and deeptech startups.
2. How much money does Longshot Capital plan to raise?
The fund is targeting ₹700 crore. Reports say it has secured commitments of approximately ₹250 crore to ₹300 crore, with fundraising discussions continuing.
3. Which startups will Longshot Capital invest in?
The fund plans to back 25–28 seed and pre-Series A startups working in AI, manufacturing, space, defence and robotics.
4. How much will the fund invest in each startup?
Reported initial investment cheques range from $500,000 to $1.5 million. The actual amount will depend on the company and the fund’s investment decisions.
5. When will Longshot Capital begin investing?
The fund is targeting its first close in January 2027 and plans to begin investing after that milestone. The timing could change depending on fundraising progress.
Looking Ahead
Longshot Capital’s progress will depend on whether it can convert its reported commitments into a successful first close and attract enough capital to approach its ₹700 crore target. The initial investments will provide a clearer picture of how the fund interprets its AI and deeptech mandate and which technologies it believes can develop into commercially viable businesses.
For India’s startup ecosystem, the initiative adds another proposed source of early-stage funding for technically ambitious companies. Its longer-term significance will depend not on the size of the announcement alone, but on the startups it backs, the capital it deploys and the outcomes those companies achieve.
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