After years of angel investing, Unacademy CEO and co-founder Gaurav Munjal and co-founder Roman Saini are seeking ₹7 billion for a proposed early-stage fund called Longshot Capital, The Economic Times reported.
The Economic Times reported Oct. 26 that the founders are pursuing the fund. It said fundraising discussions were continuing and the target size and timetable could change. The outlet reported a first-close goal of January 2027.
Longshot's proposed portfolio would include 25 to 28 companies at the seed or pre-Series A stages, in fields including artificial intelligence, manufacturing, space, defence and robotics, The Economic Times reported. Saini would make fund management his full-time role, while Munjal would participate part time alongside his work at Unacademy, according to the report.
The Economic Times put commitments at about ₹3 billion. Mint reported a range of ₹2.5 billion to ₹3 billion. Both figures are reported commitments toward the proposed fund, rather than a completed first close.
The founders’ previous angel investing totaled more than 200 investments and over ₹25 crore, The Economic Times reported. The outlet also cited Snapdeal co-founders Kunal Bahl and Rohit Bansal as an earlier example of startup founders establishing an investment fund.
Unacademy traces its beginnings to a YouTube channel launched in 2010 and says it became an education technology platform in 2015. Munjal said on LinkedIn that upGrad had completed its acquisition of Unacademy for just over $200 million. “We raised at a peak, but sold at a fraction of that,” he wrote.
EconoTimes previously covered the proposed Longshot Capital fund. The Economic Times’ reported next milestone is a first close targeted for January 2027.
