Investor Profile: Longshot Capital — Thesis, Cheque Size & How to Apply

Longshot Capital is the new venture fund being raised by Unacademy cofounders Gaurav Munjal and Roman Saini. Reported in October 2026, the Bengaluru based fund plans to back early stage artificial intelligence and deeptech startups, less than two months after upGrad completed its acquisition of Unacademy.

Investment thesis

The thesis is simple: back ambitious, technology led teams early and give them time to build. Longshot Capital is a Category II Alternative Investment Fund with a target size of Rs 700 crore and a planned lifespan of 10 to 11 years. Reports put commitments so far at around Rs 250 crore to Rs 300 crore, with a first close targeted for January 2027, and deployment planned over about three years. Saini is expected to run it full time, while Munjal will be involved part time alongside his role heading Unacademy. Both founders will serve as general partners.

Sectors and stages

Longshot Capital plans to invest in 25 to 28 startups at seed and pre-Series A stages, with initial cheques of $500,000 to $1.5 million and a targeted stake of 8% to 12%. Its mandate covers India based startups and companies founded by entrepreneurs of Indian origin. The focus is AI led businesses and deeptech segments including manufacturing, space, defence and robotics. Consumer brands and retail are explicitly outside the mandate, a useful filter for founders deciding whether to approach.

Notable portfolio / track record

Longshot Capital itself has no portfolio yet, because it plans to begin investing after its first close. Its track record so far is the founders' angel investing: more than Rs 25 crore through more than 200 angel cheques in companies including Pine Labs, Dhan, Seekho, Ultrahuman, Snabbit, Swish, STAGE and Third Wave Coffee. In August 2026 they also invested in Superleap, an AI native customer relationship management platform. That history does not mean the new fund will back consumer companies. Unacademy, founded in 2015 by Munjal, Saini and Hemesh Singh, raised around $880 million before upGrad acquired it in an all stock deal valuing it at Rs 1,955 crore.

How to apply for funding

There is no public application form or open pitch route for Longshot Capital as of October 2026, and founders should not expect to apply through a portal yet. The fund is still raising, with a first close targeted for January 2027, and it plans to start investing after that close. The honest route for now is preparation: build a clear technical story, show why your team can solve a hard problem, and be ready with evidence of progress when the fund opens for pitches. Founders with a warm introduction through the founders' network, or through investors already committed to the fund, will likely be heard first.