The Oil and Natural Gas Corporation (ONGC) is seeking senior professionals to join its ONGC Startup Fund as advisors, a move aimed at bolstering its corporate venture capital arm supporting early-stage energy startups. This initiative is significant as it enhances the advisory capacity of one of India’s few public sector venture funds, particularly in a sector experiencing rapid transformation.
## A Fund Built for the Energy Ecosystem
The ONGC Startup Fund was inaugurated on 14 August 2016, coinciding with ONGC’s Diamond Jubilee, and was registered as a Category-I Alternative Investment Fund with the Securities and Exchange Board of India (SEBI) in March 2019. The fund’s corpus, primarily contributed by ONGC and its subsidiary Mangalore Refinery and Petrochemicals Limited (MRPL), stands at approximately Rs 101 crore. This fund is strategically designed to support startups focused on the energy sector, aligning with ONGC’s broader goals of diversification into renewables, green hydrogen, and decarbonization.
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The call for advisors comes as ONGC, under the leadership of Chairman and CEO Arun Kumar Singh, who received a one-year extension in December 2025, accelerates its energy transition strategy. Applicants for these advisory roles are required to have a background in engineering or finance with at least 20 years of experience, and the roles are offered for an initial 12-month period, extendable by another year.
## How Does a Category-I AIF Differ From a Regular VC Fund
Category-I Alternative Investment Funds are specialized investment vehicles encouraged by SEBI for their social or economic benefits. They focus on areas like startups, infrastructure, and sectors that align with government priorities. For public sector units like ONGC, this structure provides a transparent mechanism to invest in startups while supporting national energy policies. The expertise sought from senior professionals in engineering and finance is crucial for aligning the fund’s investments with ONGC’s strategic priorities in energy innovation.
## What Lies Ahead
As India’s focus on energy transition intensifies, the ONGC Startup Fund is poised to expand its role in identifying, mentoring, and funding startups that are innovating in cleaner energy solutions, efficiency technologies, and climate-tech. For founders in this domain, the bolstering of the fund’s advisory talent could lead to more refined investment opportunities and enhanced support post-investment. This development marks a significant opportunity for entrepreneurs and investors to engage with a fund that is strategically positioned to drive innovation in India’s evolving energy landscape. Watching how ONGC leverages this expanded advisory capacity will be crucial for stakeholders in the energy startup ecosystem.
