Fund News
ONGC plans Rs.200-Cr startup fund; seeks 2 advisors
The Oil and Natural Gas Corporation (ONGC) intends to launch a new Rs.200-Cr fund specifically targeting startups in the energy and AI/ML sectors. ONGC has also opened applications for two advisor roles to support its startup investment operations. The advisors will be responsible for evaluating startups, conducting due diligence, negotiating valuations, and monitoring portfolio companies.The company previously launched a Rs.100-Cr startup fund in 2016 under the government’s Startup India initiative to back startups in the energy and technology sectors. The fund has invested or committed approximately Rs.88-Cr.
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