Ajay is an entrepreneur and a pioneer in the Indian venture capital industry. Recognized by Mint as one of the ‘40 Who Matter in the Indian Start-up Ecosystem’ and by Fintech Asia among the ‘Top 100 Leaders Shaping Finance Across Asia’, he has played a key role in establishing venture debt in India.

Starting at Citibank India in 1994, Ajay led the creation of the bank’s first venture debt unit in 2005. He went on to launch SVB India Finance in 2007, India’s first dedicated venture debt business, which he later rebranded as InnoVen Capital following a buyout of the business in 2015, expanding it to Singapore and China. In 2017, he co-founded Alteria Capital, which has invested nearly $800 million in Indian startups. He currently serves as Senior Advisor & Co-Founder Partner Emeritus at Alteria.

Beyond finance, Ajay is deeply involved in heritage initiatives. He conducts history walks in Mumbai, serves on the Board of Khaki Tours, and is part of the Managing Committee of the Maritime Mumbai Museum Society, working to create a modern museum dedicated to the city’s maritime legacy.