New Delhi, May 12, 2026: Oil and Natural Gas Corporation (ONGC), India’s leading oil and gas company, has opened applications for two advisor roles for its startup fund, signaling a renewed push to strengthen its startup investment initiatives.
The advisors will be hired on a contractual basis for 12 months, with the possibility of a one-year extension. According to an official document, the selected professionals will support ONGC in evaluating startups, conducting due diligence, negotiating valuations, monitoring portfolio companies, and advising on investments and exits.
The ONGC Startup Fund, launched in 2016 under the government’s Startup India initiative, was created to support startups in the energy and technology sectors. In 2019, the fund was registered with SEBI as a Category-I Alternative Investment Fund (AIF). The current corpus of the fund stands at ₹101 crore, with nearly ₹88 crore already invested or committed to selected startups.
ONGC Seeks Experts to Drive Startup Investments
In a strategic move to expand its investment portfolio, ONGC is also planning to launch an additional ₹200 crore fund focused on startups working in energy and AI/ML.
The company is seeking candidates with over 20 years of professional experience, including at least five years in venture capital fund management. Preference will be given to those with expertise in startup investments, SEBI regulations, and the energy sector.
ONGC’s decision aligns with a broader trend among public sector undertakings (PSUs) and government-backed organizations that are increasingly supporting innovation-led businesses. Recent years have seen entities such as Indian National Space Promotion and Authorisation Centre (IN-SPACe), Steel Authority of India Limited (SAIL), and Bharat Petroleum Corporation Limited (BPCL) launch venture funds, startup programs, and innovation challenges across sectors including energy, manufacturing, spacetech, and industrial technology.
