Unacademy founders to raise Rs.700-Cr for AI & deep-tech fund

Longshot Capital, a VC fund launched by Unacademy founders Gaurav Munjal and Roman Saini, has secured commitments of approximately INR 300 crore for its INR 700 crore fund. The firm is targeting its first close in January 2027. Roman Saini is slated to manage the fund on a full-time basis, while Gaurav Munjal will remain involved in a part-time capacity. Both founders will serve as general partners for the Bengaluru-based firm.The fund intends to back between 25 and 28 companies at the seed and pre-Series A stages. It plans to provide initial investments ranging from USD 0.5-M to USD 1.5-M, targeting an ownership stake of 8% to 12% in each venture. The firm will deploy capital within a three-year period into India-based companies as well as startups established by founders of Indian origin. The proposed structure is a Category II alternative investment fund (AIF).Longshot Capital will focus on artificial intelligence-led businesses and deeptech sectors such as robotics, space, defence, and manufacturing. The fund is designed with a 10 to 11-year lifespan to accommodate investments in businesses with long gestation periods.