ONGC plans new Rs 200 Cr startup fund, opens advisor roles
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Kp Panchal
- May 11, 2026
Oil and Natural Gas Corporation (ONGC) has invited applications for advisor positions for its startup fund as the state-run energy major aims to strengthen its startup investment and innovation ecosystem.
According to a document released by the company, the ONGC Startup Fund is looking to appoint two Advisors on a contractual basis for a period of 12 months, with an option to extend the term by another year.
ONGC had launched its Rs 100 crore startup fund in 2016 under the Startup India programme to support startups operating in the energy and technology sectors. In 2019, the fund was registered with the Securities and Exchange Board of India (SEBI) as a Category-I Alternative Investment Fund (AIF).
The company stated that the fund currently has a corpus of Rs 101 crore, of which nearly Rs 88 crore has already been invested or committed to shortlisted startups. ONGC is also planning to launch another Rs 200 crore fund focused on startups working in energy and AI/ML technologies.
As per the official document, the selected advisors will assist the company in evaluating startups, carrying out due diligence, negotiating valuations, tracking portfolio companies, and providing guidance on investments and exit strategies.
The company is seeking professionals with more than 20 years of industry experience and at least five years of experience in venture capital fund management. Preference will be given to candidates with expertise in startup investments, SEBI regulations, and the energy sector.
ONGC’s latest initiative comes at a time when several public sector undertakings (PSUs) and government-backed organisations are increasing their focus on startups and innovation-led ventures.
Over the past few years, institutions and companies such as Indian National Space Promotion and Authorisation Centre (IN-SPACe), Steel Authority of India Limited (SAIL), and Bharat Petroleum Corporation Limited (BPCL) have launched startup programmes, innovation challenges, and venture funds to support startups operating in sectors including energy, manufacturing, spacetech, AI, and industrial technology.
Frequently Asked Questions
What is ONGC?
Oil and Natural Gas Corporation (ONGC) is India’s largest government-owned oil and gas exploration and production company. It operates under the Ministry of Petroleum and Natural Gas.
What does ONGC do?
ONGC is involved in the exploration, production, and refining of crude oil and natural gas. The company plays a major role in meeting India’s energy requirements through both onshore and offshore operations.
When was ONGC established?
ONGC was established in 1956 by the Government of India to strengthen the country’s oil and gas exploration capabilities.
What is ONGC Startup Fund?
ONGC Startup Fund is a venture investment initiative launched in 2016 under the Startup India programme to support startups working in energy, technology, AI/ML, and related sectors.
Is ONGC a government company?
Yes, ONGC is a state-run public sector undertaking (PSU) owned and operated by the Government of India.
