Following the acquisition of Unacademy, cofounders Gaurav Munjal and Roman Saini are launching Longshot Capital, a ₹700 crore venture fund dedicated to AI and deeptech investments, marking their shift from angel investors to institutional fund managers.
- ₹700 Cr fund focusing on AI and deeptech startups across India and Indian-origin founders
- Plan to invest $500K–$1.5M in 25-28 early-stage companies, targeting 8-12% equity stakes
- Fund launch follows Unacademy's acquisition, signaling founders' move to VC after extensive angel investing
What happened
Unacademy cofounders Gaurav Munjal and Roman Saini are raising a ₹700 crore venture capital fund named Longshot Capital to invest in AI and deeptech startups. The fund, categorized as a Category II Alternative Investment Fund (AIF), has already secured commitments of approximately ₹250-300 crore and aims for its first close in January 2027. It plans to invest in 25-28 startups at the seed and pre-Series A stages with initial checks ranging from $500,000 to $1.5 million.
Saini will manage Longshot Capital full-time while Munjal will maintain part-time involvement alongside his leadership role at Unacademy. Both will act as general partners. The fund intends to focus on India's AI-led enterprises and deeptech sectors such as manufacturing, space, defense, and robotics, deliberately avoiding consumer brands and retail. It will invest in India-based firms and companies founded by entrepreneurs of Indian origin, deploying capital over three years with a 10 to 11-year lifecycle.
Why it matters
This new fund formalizes over a decade of angel investment experience by Munjal and Saini, who have invested more than ₹25 crore through 200+ angel rounds in startups like Pine Labs, Ultrahuman, and others. By moving into institutional venture capital, the founders join a growing cohort of Indian tech entrepreneurs who are leveraging their expertise and networks to back the next generation of frontier technology companies.
The launch comes amid a surge in funding for Indian AI and deeptech startups, with AI firms raising $438 million and deeptech firms $290 million in Q3 2026—reflecting year-over-year growth of 265% and 176%, respectively. Longshot Capital is positioned to capitalize on this momentum by supporting early-stage innovation in sectors with longer gestation periods that often face funding challenges.
What to watch next
Market participants should watch Longshot Capital's first closing and initial investments closely, as they will signal the fund's ability to scale and identify promising high-tech startups in India and abroad. How effectively the fund balances deeptech's long maturation timelines with investor expectations will be crucial in defining its success and impact on the Indian innovation ecosystem.
Additionally, the broader trend of experienced founders transitioning from angel investors to venture fund managers could accelerate, influencing capital flows and startup support in India’s tech landscape. Monitoring Longshot Capital’s portfolio development and exits will provide insights into emerging Indian AI and deeptech champions backed by this next wave of institutional VC.