Unacademy cofounders Gaurav Munjal and Roman Saini are planning a ₹700 crore fund called Longshot Capital to invest in AI and deeptech startups, Inc42 reported on 26 October 2026. The report cites Economic Times, which cites unnamed sources, for the fundraising figures. Munjal and Saini declined to comment, and Spectate Media has not seen the fund's documents.
The structure
Longshot Capital is a Bengaluru-based Category II alternative investment fund, with both founders as general partners. Saini will run it full time, and Munjal part time while he continues to head Unacademy. The report does not mention a SEBI registration. About ₹250 crore to ₹300 crore has been secured so far, and the first close is targeted for January 2027. The report names no committed investors. Target investors are startup founders, family offices and overseas institutions.
What it plans to back
The fund will focus on AI-led businesses and deeptech, including manufacturing, space, defence and robotics, and will exclude consumer brands and retail. It plans to invest in 25 to 28 startups at seed and pre-Series A, with initial cheques of $500,000 to $1.5 million for a stake of 8% to 12%. It will back startups based in India and companies founded by entrepreneurs of Indian origin. The deployment period is three years, and the fund's life is 10 to 11 years.
The founders' record
Munjal and Saini have made more than 200 angel investments totalling over ₹25 crore, including Pine Labs, Dhan, Seekho, Ultrahuman, Snabbit, Swish, STAGE and Third Wave Coffee. In August they invested in Superleap, an AI-native CRM platform. upGrad completed its acquisition of Unacademy in September in an all-stock deal valuing Unacademy at ₹1,955 crore.
Key numbers
- Target fund size: ₹700 crore (Category II AIF)
- Commitments, reportedly: ₹250-300 crore (Per ET, citing sources)
- Portfolio plan: 25 to 28 startups (Seed and pre-Series A)
- First close: January 2027 (Targeted)
What boards and CFOs should note
Three points. First, the fund is a plan, with the first close months away and the commitments unconfirmed by the founders. Second, its focus on manufacturing, space, defence and robotics reflects where early-stage capital is being pointed. Third, the ownership target of 8% to 12% at seed means each cheque buys a meaningful stake.
Source: Inc42, 26 October 2026. This is a summary of a news report, published as general information. It is not legal, tax or investment advice.
This article is journalism and commentary. It is not a recommendation to buy or sell any security, and it is not professional advice. Read the full disclaimer.
