Unacademy cofounders secure ₹250-300 crore in commitments for ₹700 crore DeepTech fund Longshot Capital

Unacademy cofounders Gaurav Munjal and Roman Saini are raising a ₹700 crore venture fund for AI and DeepTech startups and have secured commitments of ₹250-300 crore, Inc42 reports, citing an Economic Times story based on sources. The Category II AIF, named Longshot Capital, is targeting a first close in January 2027. The fund plans to back 25-28 seed and pre-Series A startups with initial cheques of $500,000 to $1.5 million and targeted ownership of 8-12%, across AI-led businesses and DeepTech segments including manufacturing, space, defence and robotics. Saini will run the fund full-time while Munjal is involved part-time; both serve as general partners. The fund will have a 10-11 year lifespan and will invest in India-based startups and companies founded by entrepreneurs of Indian origin. Munjal and Saini declined to comment on the report. The pair have invested more than ₹25 crore through over 200 angel cheques, including in Pine Labs, Dhan, Ultrahuman and Third Wave Coffee.

DTT summary based on Inc42's report. The full article is on the publisher's site.