Key Takeaways
- • Unacademy co-founders Gaurav Munjal and Roman Saini are reportedly raising a ₹700-crore venture capital fund, named Longshot Capital, to invest in early-stage AI and deeptech startups.
- • Longshot Capital has reportedly secured commitments of around ₹250-300 crore and is targeting a first close in January 2027.
- • The fund plans to back 25-28 seed and pre-Series A startups with initial checks of $500,000 to $1.5 million, targeting 8-12% ownership stakes.
- • Roman Saini is expected to lead the fund full-time, with Munjal participating part-time while remaining at Unacademy; both are expected to serve as general partners.
- • The raise follows upGrad's all-stock acquisition of Unacademy at a reported value of approximately ₹1,955 crore, down sharply from Unacademy's roughly $3.4 billion peak valuation in 2021.
Summary
Unacademy co-founders Gaurav Munjal and Roman Saini are reportedly raising ₹700 crore through a venture capital fund called Longshot Capital, according to media reports. The fund is focused on artificial intelligence and deep technology, with investment areas spanning manufacturing, robotics, space and defence.
The reports say the proposed fund has secured commitments of roughly ₹250 crore to ₹300 crore and is targeting its first close in January 2027. Longshot Capital intends to back 25-28 startups at the seed and pre-Series A stages, with initial investments ranging from $500,000 to $1.5 million and target ownership stakes of 8-12% in portfolio companies. Capital is to be deployed over three years, with a proposed 10 to 11-year fund life to accommodate the longer development and commercialisation cycles typical of deep technology businesses.
The fund will invest in Indian startups as well as companies founded by entrepreneurs of Indian origin. Saini is expected to lead the fund full-time, while Munjal will be involved part-time alongside his responsibilities at Unacademy. Both founders are expected to serve as general partners.
The fundraising plan follows upGrad's acquisition of Unacademy in an all-stock transaction valued at approximately ₹1,955 crore. That figure marks a significant decline from Unacademy's peak valuation of around $3.4 billion in 2021, when online education attracted substantial investor interest during the pandemic. The proposed fund also signals the founders' move toward institutional investing after years of angel investments in startups.
The reports say the proposed fund has secured commitments of roughly ₹250 crore to ₹300 crore and is targeting its first close in January 2027. Longshot Capital intends to back 25-28 startups at the seed and pre-Series A stages, with initial investments ranging from $500,000 to $1.5 million and target ownership stakes of 8-12% in portfolio companies. Capital is to be deployed over three years, with a proposed 10 to 11-year fund life to accommodate the longer development and commercialisation cycles typical of deep technology businesses.
The fund will invest in Indian startups as well as companies founded by entrepreneurs of Indian origin. Saini is expected to lead the fund full-time, while Munjal will be involved part-time alongside his responsibilities at Unacademy. Both founders are expected to serve as general partners.
The fundraising plan follows upGrad's acquisition of Unacademy in an all-stock transaction valued at approximately ₹1,955 crore. That figure marks a significant decline from Unacademy's peak valuation of around $3.4 billion in 2021, when online education attracted substantial investor interest during the pandemic. The proposed fund also signals the founders' move toward institutional investing after years of angel investments in startups.
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