India, Oct. 26 -- Unacademy cofounders Gaurav Munjal and Roman Saini are raising a Rs.700 Cr venture capital fund to back AI and deeptech startups, less than two months after upGrad completed the acquisition of the edtech startup.

Named Longshot Capital, the Category II AIF has secured commitments of around Rs.250-300 Cr and is targeting its first close in January 2027, ET reported, citing sources.

Munjal and Saini declined to comment on the development.

The Bengaluru-based fund plans to invest in 25-28 startups at the seed and pre-Series A stages, with initial cheques of $500,000 to $1.5 Mn and a targeted ownership stake of 8-12%.

Saini will run Longshot Capital full-time, while Munjal will be involved part-time alongside his role he...