Key Takeaways
- • Unacademy co-founders Gaurav Munjal and Roman Saini are raising a ₹700 crore venture capital fund, Longshot Capital, to invest in early-stage AI and deeptech startups, according to The Economic Times as cited by Livemint.
- • The Category II alternative investment fund has reportedly secured commitments of around ₹250-300 crore, roughly 36-43% of its target, and is targeting a first close in January 2027.
- • Longshot Capital plans to invest in 25-28 seed and pre-Series A startups at $500,000 to $1.5 million per company, targeting 8-12% ownership stakes.
- • Saini will manage the fund full-time while Munjal serves part-time as general partner alongside his role as Unacademy CEO; prospective investors include startup founders, family offices and overseas institutions.
- • The launch formalises more than a decade of angel investing by the pair, who have made over 200 angel investments totalling more than ₹25 crore.
Summary
Unacademy co-founders Gaurav Munjal and Roman Saini are raising a ₹700 crore venture capital fund, Longshot Capital, to invest in early-stage artificial intelligence and deeptech startups, according to a report by The Economic Times. The fund is registered as a Category II alternative investment fund (AIF) and has reportedly secured commitments of around ₹250-300 crore, approximately 36-43% of its target. It is targeting a first close in January 2027, although the fundraising amount and timeline could change as discussions with prospective investors continue.
The Bengaluru-based fund plans to invest in 25-28 startups at the seed and pre-Series A stages, with initial cheques expected to range between $500,000 and $1.5 million per company and target ownership stakes of 8-12%. The strategy focuses on AI-led businesses and deeptech sectors including manufacturing, space, defence and robotics, while consumer brands and retail businesses fall outside its primary mandate. Capital will be deployed over three years, backing companies based in India as well as businesses founded by entrepreneurs of Indian origin overseas. The fund is expected to have a lifespan of 10-11 years, reflecting the longer development cycles typical of deeptech.
Prospective investors reportedly include startup founders, family offices and overseas institutions. Munjal and Saini will act as general partners; Saini is expected to manage the fund full-time, while Munjal will participate part-time alongside his responsibilities as Unacademy's chief executive officer. The fund formalises more than a decade of angel investing by the two entrepreneurs, who have invested over ₹25 crore through more than 200 angel investments. Their previous backings include Pine Labs, Dhan, Seekho, Ultrahuman, Snabbit, Swish, STAGE and Third Wave Coffee, and in August they invested in Superleap, an AI-native customer relationship management platform.
The move comes less than two months after upGrad completed its all-stock acquisition of Unacademy, the edtech platform co-founded by Munjal, Saini and Hemesh Singh. Unacademy began as a YouTube channel before becoming a formal edtech platform in 2015, expanded rapidly during the pandemic-era online education boom, and later undertook multiple rounds of layoffs, reduced cash burn and scaled back certain verticals. Saini cleared the AIIMS entrance exam at 16 and the UPSC civil services examination at 22, served as an Indian Administrative Service officer in Madhya Pradesh, and left the service in 2015 to build Unacademy. Munjal holds a BTech in Computer Engineering from NMIMS Mumbai, completed in 2012. Their move into fund management reflects a broader trend among Indian entrepreneurs shifting from investing personal capital to managing external investor money.
The Bengaluru-based fund plans to invest in 25-28 startups at the seed and pre-Series A stages, with initial cheques expected to range between $500,000 and $1.5 million per company and target ownership stakes of 8-12%. The strategy focuses on AI-led businesses and deeptech sectors including manufacturing, space, defence and robotics, while consumer brands and retail businesses fall outside its primary mandate. Capital will be deployed over three years, backing companies based in India as well as businesses founded by entrepreneurs of Indian origin overseas. The fund is expected to have a lifespan of 10-11 years, reflecting the longer development cycles typical of deeptech.
Prospective investors reportedly include startup founders, family offices and overseas institutions. Munjal and Saini will act as general partners; Saini is expected to manage the fund full-time, while Munjal will participate part-time alongside his responsibilities as Unacademy's chief executive officer. The fund formalises more than a decade of angel investing by the two entrepreneurs, who have invested over ₹25 crore through more than 200 angel investments. Their previous backings include Pine Labs, Dhan, Seekho, Ultrahuman, Snabbit, Swish, STAGE and Third Wave Coffee, and in August they invested in Superleap, an AI-native customer relationship management platform.
The move comes less than two months after upGrad completed its all-stock acquisition of Unacademy, the edtech platform co-founded by Munjal, Saini and Hemesh Singh. Unacademy began as a YouTube channel before becoming a formal edtech platform in 2015, expanded rapidly during the pandemic-era online education boom, and later undertook multiple rounds of layoffs, reduced cash burn and scaled back certain verticals. Saini cleared the AIIMS entrance exam at 16 and the UPSC civil services examination at 22, served as an Indian Administrative Service officer in Madhya Pradesh, and left the service in 2015 to build Unacademy. Munjal holds a BTech in Computer Engineering from NMIMS Mumbai, completed in 2012. Their move into fund management reflects a broader trend among Indian entrepreneurs shifting from investing personal capital to managing external investor money.
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