ONGC plans new Rs 200 Cr startup fund, opens advisor roles
- ByStartupStory | May 13, 2026
State-run oil and gas major Oil and Natural Gas Corporation (ONGC) has opened applications for advisor roles for its startup fund as the company looks to strengthen its startup investment operations.
According to a document published by the company, the ONGC Startup Fund is hiring two Advisors on a contractual basis for 12 months, with the option to extend for another year.
ONGC had launched its Rs 100 crore startup fund in 2016 under the government’s Startup India initiative to support startups working in the energy and technology sectors. In 2019, the fund was registered with SEBI as a Category-I Alternative Investment Fund (AIF).
The company said the fund currently has a corpus of Rs 101 crore, out of which nearly Rs 88 crore has already been invested or committed to selected startups. ONGC also plans to launch another Rs 200 crore fund focused on startups working in energy and AI/ML.
As per the document, the advisors will help the company in evaluating startups, conducting due diligence, negotiating valuations, monitoring portfolio companies, and advising on investments and exits.
The company is looking for professionals with over 20 years of experience and at least five years of venture capital fund management experience. Candidates with expertise in startup investments, SEBI regulations, and the energy sector will be preferred.
ONGC’s latest move comes at a time when several PSUs and government-backed organisations are increasing their focus on startups and innovation-led businesses. Over the past few years, companies and institutions 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 working in sectors such as energy, manufacturing, spacetech, AI, and industrial technology.
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