ONGC Share Price Jumps Over 5%; Plans ₹200 Crore Startup Fund for Energy, AI Ventures

Oil and Natural Gas Corporation (ONGC) is planning to launch a new ₹200 crore startup fund focused on companies working in the energy and artificial intelligence and machine learning (AI/ML) sectors, according to news reports. 

The proposed fund will operate as an Alternative Investment Fund (AIF). The development comes as public sector companies continue to expand investments in technology-led and industrial startups. 

Applications Invited for Advisor Roles 

As part of the process, ONGC has invited applications for 2 advisor positions linked to the management of the fund. The appointments will be made on a contractual basis for 12 months, with an option to extend the tenure by another year. 

The advisors will be responsible for evaluating startup proposals, conducting due diligence, negotiating valuations, monitoring portfolio companies, and advising on investment and exit-related matters. 

According to the eligibility criteria, applicants should have more than 20 years of work experience, including at least 5 years in venture capital fund management.  

Preference will be given to candidates with exposure to startup investments, energy businesses, and SEBI regulations. 

Earlier Fund Nearly Fully Committed 

ONGC had earlier launched a ₹100 crore startup fund in 2016 under the Government of India’s Startup India initiative. The fund was aimed at supporting startups operating in oil and gas, energy, and related technology segments. 

In 2019, the fund was registered with the SEBI as a Category-I AIF. 

The company said the existing fund currently has a corpus of around ₹101 crore, of which nearly ₹88 crore has already been invested or committed to selected startups. 

Among its investments, ONGC had invested ₹2 crore in Delhi-based cleantech company Chakr Innovation in 2021. The startup develops technology that captures soot emissions from diesel generators and converts them into ink. 

PSU Focus on Startup Investments 

In recent years, several state-run companies and government-backed organisations have launched startup programmes and innovation funds focused on sectors such as clean energy, manufacturing, spacetech, and industrial technology. 

These include initiatives by Indian National Space Promotion and Authorisation Centre, Steel Authority of India Limited, and Bharat Petroleum Corporation Limited. 

Read More: Mazagon Dock (MAZDOCK) Share Price in Focus as Company Seeks Ministry Support for Independent Director Appointments! 

Oil and Natural Gas Corporation (ONGC) Share Price Performance  

As of May 12, 2026, 11:29 am, Oil and Natural Gas Corporation (ONGC) share price was trading at ₹296.30, a 5.44% increase from the previous closing price. 

Conclusion 

With most of its earlier startup corpus already committed, ONGC is expanding its investment activity through a new fund and advisor appointments. 

For daily market updates and regular stock market news in Hindi, stay tuned to Angel One's share market news in Hindi. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   
 
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.