Unacademy Co-Founders Gaurav Munjal and Roman Saini Plan ₹700 Crore Venture Fund to Back AI and Deeptech Startups

Unacademy co-founders Gaurav Munjal and Roman Saini are reportedly raising a ₹700 crore venture capital fund, Longshot Capital, to invest in emerging artificial intelligence (AI) and deeptech startups. According to a report by The Economic Times, the fund has secured commitments of approximately ₹300 crore and is targeting its first close in January 2027.

Longshot Capital plans to build a portfolio of 25–28 startups at the seed and pre-Series A stages. Its investment focus will span AI, advanced manufacturing, space technology, defence and robotics, sectors that are increasingly attracting investor interest as India strengthens its technology and industrial capabilities.

The fund is expected to make initial investments ranging from $500,000 to $1.5 million per startup. This investment strategy will allow Longshot Capital to support early-stage founders developing technology-led businesses with the potential to address complex problems across industries.

Under the proposed arrangement, Roman Saini will lead the fund on a full-time basis, while Gaurav Munjal will contribute part-time. Their combined experience in building and scaling a major technology business, alongside their history of backing emerging companies, is expected to shape the fund’s investment approach.

The duo has already made more than 200 angel investments, deploying over ₹25 crore across startups. Longshot Capital represents a potential expansion of their investing activities into a dedicated venture capital platform focused on early-stage companies.

The fund’s planned focus on AI and deeptech comes amid growing interest in technologies that extend beyond consumer internet businesses. Artificial intelligence, robotics, defence technology, space systems and advanced manufacturing are creating opportunities for startups to develop specialised products, intellectual property and technology infrastructure for domestic and global markets.

The proposed fundraise also comes at a significant moment for the founders. Less than two months earlier, education technology company Unacademy was acquired by UpGrad for just over $200 million, according to the reported figures. The transaction represented a substantial decline from Unacademy’s peak valuation of $3.44 billion in 2021, reflecting the difficult valuation environment faced by several technology companies following the pandemic-era funding boom.

Against this backdrop, Longshot Capital signals a potential new chapter for the founders, shifting part of their focus towards backing the next generation of technology entrepreneurs.

If the fund reaches its ₹700 crore target, it could become a significant source of early-stage capital for Indian startups working in AI and strategic technology sectors. Its progress towards the first close in January 2027 will be an important milestone as the founders look to translate their angel-investing experience into a dedicated venture capital operation.