It was the beginning of an ongoing journey. As AI evolved from rule-based systems to the generative, transformative models of today, Vijay’s fascination only deepened. After completing her MBA at Harvard Business School, she joined Elevation Capital and her focus on SaaS soon intersected with the growing momentum around AI. It was the right place at the right time, she says. At Elevation Capital, she has witnessed the technology move from experimental promise to a powerful, human-centered force reshaping industries – and everyday life.
Elevating enterprises from AI-enabled to AI native
At Elevation Capital, Vijay highlights how backing category-defining companies is a part of its DNA – be it fintech, consumer SaaS, or AI. She sees intelligence as the next frontier. “Today, I feel that the opportunity for companies is in intelligence. How do we make those interactions that we are having with consumers, enterprises and internal systems, smarter, safer, more personalized? This is about how we serve the growing enterprise market with AI,” Vijay says.
She recognizes the challenge for early-stage AI startups balancing heavy research and development with product-market fit, saying “One of the frameworks I have in mind, and often discuss with founders, is that an incredibly smart AI model with zero usage is still a research paper in my mind, versus a scrappy model, which serves a very interesting and a burning problem statement as a company.”
Vijay believes AI will permeate every company. “No matter what you’re doing and no matter what company you’re building, you will have AI in your company going forward… those who choose not to will run the risk of getting disrupted very quickly.” She distinguishes between AI-enabled companies improving existing processes and AI-native companies solving problems that were previously impossible to tackle.
True AI-native innovation, she explains, is seen in tools like Runway and Journeys, where ideas can be brought to life directly from imagination, bypassing traditional professional skills. “You don’t need to be a professional designer, you don’t need to be a professional marketer. You can actually generate things just out of your mind. That is a net new analog, and truly AI native.”
For Vijay, Elevation Capital’s focus is to back these transformative ideas, supporting founders who are reshaping industries with AI, while leveraging India’s evolving ecosystem and global access to technology.
The amplification of human values: AI and ethics
When it comes to ethics and AI, Vijay strongly believes in the importance of balancing both. She acknowledges that AI holds immense potential but can also amplify human flaws without proper checks, leading to risks like misinformation and inequality.
Her framework focuses on three principles: transparency, so users know when they’re interacting with AI; fairness, ensuring datasets and models are diverse and regularly audited to prevent bias; and accountability, where companies must be responsible for unintended consequences. She stresses that AI should align with human values rather than magnify flaws – a tricky balance, where founders need to be very careful.
“Early-stage founders want to work at breakneck speed, and may feel that using AI responsibly can slow them down. But honestly, anyone in business or tech knows what technical debt can do to your business. And this is a problem that can’t be ignored,” she says.
AWS: championing innovation for startups
Vijay credits AWS for significantly empowering the Indian startup ecosystem. She notes that early-stage founders no longer worry about access to compute or infrastructure, thanks to AWS providing the necessary resources and support to test ideas and innovate. By championing innovation and delivering world-class tools to Indian startups, AWS has removed key barriers, helping founders focus on building and scaling their products. This is what has positioned India’s startup ecosystem ahead of the global curve.
Building AI for the world, from India
Will the next global AI company emerge from India’s stable? Vijay says yes, adding, “I wouldn’t be excited about my job if I didn’t feel this way.” She is energized by the potential for globally relevant AI companies to emerge from India in the next decade. She believes the gap has narrowed, with access to information, capital, and ambitious young founders increasing rapidly.
While Freshworks and Zoho were built in a different era, Vijay sees a new generation of college graduates building products for global markets from day one, with enterprise customers ready to adopt them. This fresh energy, combined with heightened ambition and market pull, makes her optimistic about India producing multiple world-class AI companies in the coming years.
The evolution of venture capital
What will venture capital look like in a few years? According to Vijay, AI will transform venture capital, especially in deal diligence. She notes that tasks like competitive benchmarking and secondary research, which once took days, can now be done in hours thanks to AI — providing faster, richer first-level insights.
Yet, she emphasizes that early-stage investing remains grounded in human judgment, and that understanding a founder’s vision, conviction, and the rationale behind their company cannot be automated. While AI accelerates data aggregation and financial analysis, the core of venture decisions remains rooted in conversations, founder empathy, and the nuanced evaluation of potential that only humans can provide.
AI and beyond…
Amid the rapid evolution of AI, Vijay knows that staying updated with developments is a full-time job. She follows research papers, long-form Substack posts, LinkedIn discussions, and podcasts that feature founders building innovative companies in real time. But her richest insights come from conversations with founders and innovators actively shaping the field, rather than reports reflecting past trends.
Outside work, she values balance—she enjoys reading, cooking, traveling, and spending time with family and friends. She believes in nurturing hobbies and experiences that bring joy, helping her recharge while staying deeply connected to the fast-evolving AI landscape.
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