Longshot Capital, a venture fund being raised by Unacademy founders Gaurav Munjal and Roman Saini, is targeting Rs 700 crore for investments in AI and deeptech startups, people familiar with the plans said. The proposed fund has secured about Rs 300 crore in commitments and is targeting a first close in January 2027.

Key Takeaways

  • Roman Saini will lead the fund full-time, while Gaurav Munjal will participate part-time.
  • The fund plans to begin investing after its targeted first close.
  • Longshot aims to back 25 to 28 seed and pre-Series A startups.

Longshot Capital’s investment plans

The fund intends to focus on AI, manufacturing, space, defence and robotics. It plans initial checks of 500,000 to 1.5 million, although the currency for those amounts was not specified.

The Rs 300 crore in commitments is short of the Rs 700 crore fundraising target. The planned January close would mark a fundraising milestone, not the completion of the fund’s investments.

Founders’ roles after Unacademy acquisition

Saini will work on the fund full-time. Munjal, who continues to head Unacademy, will be involved part-time.

The fundraising comes less than two months after upGrad acquired Unacademy. Munjal and Saini have made more than 200 angel investments and deployed over Rs 25 crore.

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