(The Weekend Insight) - Startup Retirees: What Indian Founders Do After the Exit

In today’s deep-dive, we will explore what really happens after the curtain falls on a startup journey. Over the last two decades, India’s startup ecosystem has created thousands of founders and early team members who built companies from scratch. Some made millions, others barely made it out alive. But once the spotlight fades and the pitch decks are packed away, what do these builders do with the rest of their lives? This report follows their next chapters - some obvious, some surprising, and some truly untold.

Twenty years ago, India’s startup world was just beginning to find its footing. In those early days, a small group of founders, developers, and dreamers tried to build something new, often with very little money, guidance, or support. Over time, many of them succeeded. Some took their companies public. Others sold to larger firms. A few shut down, regrouped, and moved on. But after the headlines fade and the boardrooms grow quiet, what comes next?

1. Fuelling the Next Wave

For many founders, selling their company isn't the finish line, but a powerful new starting block. With new money, hard-earned knowledge, and a strong network built from their business ventures, they're now in a powerful new place, ready to create the future.

1.1 Becoming Angel Investors and Mentors

This is, by far, the most common path. It’s a natural fit. Who better to guide a young, struggling startup than someone who’s lived through every twist and turn? These founders don't just write checks; they become coaches, therapists, and cheerleaders, all rolled into one. They understand the deep anxieties and exhilarating victories of a founder because they’ve felt them themselves.

Why they do it:

• Love for building: The joy of seeing an idea grow is still there, even if they're not building it directly.

• Giving back: They genuinely want to help the next generation avoid their mistakes and achieve even greater heights.

• Staying connected: The startup world is exciting. Angel investing keeps them in the loop, constantly learning about new ideas and technologies.

• Smart investment: They know the market, the people, and the risks better than anyone.

Below are some of the examples of such founders:

• Kunal Bahl and Rohit Bansal (Snapdeal co-founders): This dynamic duo created a fund, Titan Capital, and are investors in over 250 startups.

• Binny Bansal (Flipkart co-founder): After Flipkart, Binny has been incredibly active as an angel investor. He backed ventures like PhonePe and Curefoods.

• Kunal Shah (FreeCharge founder, then CRED): Kunal Shah is another very active angel. He not invests but also sparks deep discussions about business models and what makes people buy things.

• Vijay Shekhar Sharma (Paytm founder): Even while running a huge company that's listed on the stock market, Vijay Shekhar Sharma finds time to help early-stage startups. He has invested in Curelink (a health-tech platform) and Daalchini (which makes smart vending machines).

• Ritesh Malik (Innov8 Coworking founder): A doctor who became an entrepreneur, Ritesh built Innov8, a well-known co-working space, which was later bought by OYO. He's now on the board of Plaksha University, a tech university, and he's an active angel investor.

• T.V. Mohandas Pai (former Infosys CFO): While he wasn't a "founder" in the typical tech startup sense, his influence as an angel investor is huge. He's a veteran of India's IT revolution and a very active early-stage investor.

• Shanti Mohan (founder of LetsVenture): Shanti, who started lonic Microsystems before LetsVenture, made 14 investments in 2021.

1.2 Becoming Second-Time Founders

For some, the first startup was just practice. The pull of building something from scratch, watching it grow, and solving a real problem is too strong to resist. An exit gives them the money, experience, and confidence to jump right back into the game.

Why they do it:

• Unfinished business: They might feel they learned enough from the first venture to do even better this time.

• New passion: A fresh problem captures their imagination, needing a new solution.

• Applying lessons: They know what mistakes to avoid, how to build a stronger team, and how to work more efficiently.

Below are some of the examples of such founders:

• Sourjyendu Medda (formerly of DealShare): After his time with DealShare, an online shopping platform, Sourjyendu quickly jumped into his next passion, launching Sports For Life (SFL).

• Jamil Ahmad (formerly of Fashinza): Fashinza, a business-to-business platform for fashion, was a very demanding venture. But soon after his exit, Jamil was back in the game, launching Marrfa, a real estate tech startup.

• Shirish Nadkarni (Livemocha, TeamOn Systems): Shirish is a classic serial entrepreneur. After building and successfully selling Livemocha (a language learning platform) and TeamOn Systems (mobile email), he's continued to be involved in the tech world.

• Sumit Jain (formerly of CommonFloor): Sumit, who earlier built CommonFloor (a real estate platform that was sold to Quikr), didn't stop there. He went on to start Graphy, a platform for creators.

• Ashish Hemrajani (BookMyShow): After building India's leading online movie and event ticket service, Ashish explored new areas like digital streaming and live events. He even experimented with NFTs before deciding to stop that project.

• Naveen Tewari (InMobi): Naveen is building a new model where he not only invests in companies but also actively helps them grow and build.

• Ritesh Malik: After leaving Innov8, Ritesh started working closely with entrepreneurs in smaller cities (Tier-2), helping them build local businesses from the ground up.

1.3 Transitioning to Institutional Roles and Advisory Boards

Some founders, instead of directly building or angel investing, choose to use their influence from within bigger financial companies or by joining company boards.

• In Venture Capital/Private Equity: While not always in the public eye, many founders who have had successful exits become Venture Partners or Operating Partners at big investment funds.

• Advisory Board Roles: This offers a good balance. Founders lend their smart ideas without the daily grind of running a company. They become trusted advisors, helping young leaders deal with tricky problems like getting more money, expanding into new markets, or even handling team issues.
  For example, Deep Kalra (MakeMyTrip founder) spends his time mentoring travel and tourism startups and works with university alumni networks to help other companies grow. Phanindra Sama (redBus founder) became the Chief Innovation Officer of Telangana state and joined the board of IIIT Hyderabad, often giving talks on public policy and entrepreneurship. Sairee Chahal (Sheroes founder) now spends her time mentoring, speaking publicly, and working on policies related to gender issues.

2. The Unconventional Embrace

This is where the story gets really interesting. After years of hard work and living by strict deadlines, many founders wish for something different. They leave behind their old ways and dive into pursuits that bring a different kind of joy, often far removed from the world of money and business goals.

2.1 Retreating to Meditation and Spiritual Journeys

The startup world is like a pressure cooker. Long hours, constant stress, and the heavy burden of expectations can wear a person down. It's not surprising that many founders, after a big exit, look for peace in quiet places and time for deep thinking.

• The Search for Calm: Many startup retirees go on spiritual trips to the Himalayas, spending time in peaceful ashrams in Rishikesh or Dharamshala. They deeply study ancient Indian philosophies, yoga, and mindfulness to heal, find balance, and discover themselves again.

• Beyond Personal Wellness: Some of these founders don't just find peace for themselves; they try to share it in a meaningful way. For example, Bhavin Turakhia, who sold Media.net for a huge sum in 2016, is still active in tech but also strongly supports mindfulness. He hosts retreats in Rishikesh and shares meditation tips online. Similarly, Anupam Mittal (Shaadi.com founder) and a judge on Shark Tank India, has spoken about his yoga practice, saying it helps him think clearly when making decisions.

• Building Wellness Ventures: Some go even further and start their own wellness businesses. Madhu, founder of Positive Techno Services, built Buildpositiveness.com, an online platform offering meditation coaching and wellness programs for companies. Another founder from Bengaluru shared how he sold his fintech startup in 2020 and now runs a wellness retreat in Coorg, teaching meditation to burnt-out entrepreneurs. Nipun Mehta, an Indian based in Silicon Valley who ran ServiceSpace, now leads silent groups like Karma Kitchen and Awakin Circles, which many retired Indian founders have joined.

2.2 Embracing Farming and Sustainable Living

The busy city life of Bengaluru or Gurugram can lose its charm after years of living in tall buildings. A growing number of founders are choosing to move to greener places, very literally.

• A New Kind of Growth: They buy land, often on the edges of cities or in beautiful rural areas, and get into organic farming, permaculture (a way of farming that works with nature), or building self-sustaining communities. Shreyansh Jain, an entrepreneur who sold his jewelry business, now runs an organic farm in Maharashtra, growing millets and helping other farming tech startups. Vinod Murali, former head of Innoven Capital, started exploring hydroponic farming after his time there and now runs an urban farm in Goa. Radhika Aggarwal (ShopClues) reportedly bought land near Dehradun and is working on an organic farm idea.

• Tech Meets Soil: While not a typical "retirement" example, the idea of Sridhar Vembu, CEO of Zoho, fits here. He famously moved Zoho's operations to Tenkasi, a small town in Tamil Nadu, showing that great new ideas can come from outside big cities.

• Building Green Havens: This trend often leads to building closed-loop sustainable places. These founders might try out renewable energy, develop new ways to make compost, or even create farm-to-table restaurants that use food directly from their farms. Hosachiguru, founded in 2015 by three engineers who left their IT jobs, is a great example. They offer "farm-as-a-service," letting city people invest in organic farms near Bengaluru. The founders themselves manage these farms, mixing tech with farming, using things like IoT sensors for soil health and drones for monitoring.

• Taking it a step further: Harsh Vardhan, co-founder of a logistics tech startup, started a cow sanctuary outside Jaipur. In Tamil Nadu, a group of ex-tech founders started an agritech collective, trying out new ideas with soil health, native seeds, and chemical-free farming.

• The Urban Farming Micro-Trend: Some retirees are getting into urban farming, setting up small farms on rooftops or tiny plots in cities like Mumbai and Hyderabad. A former Zomato employee, shared how she started a hydroponic farm in her Bandra apartment. She now sells microgreens to local restaurants, mixing her startup energy with a greener lifestyle.

2.3 Writing Books and Becoming Thought Leaders

Every founder has a story. Of triumphs, failures, lessons learned the hard way, and the sheer willpower it takes to build something from nothing. Leaving the company gives them the most valuable thing: time and a clear mind to think and share.

• Leaving a Legacy of Knowledge: They write personal stories, how-to guides, and deep dives into specific industries. These books become very valuable for aspiring entrepreneurs, filled with real stories and smart ideas. Shirish Nadkarni, a serial entrepreneur (Livemocha, TeamOn Systems), literally wrote "From Startup to Exit," offering a useful guide for tech founders based on his many years of experience. K Ganesh, who founded TutorVista and BigBasket, has written a lot about his journey as an entrepreneur, sharing insights at events like ET Startup Awards.

• Beyond the Bestseller List: Some of these exited founders quietly become ghostwriters for other famous business people or even new entrepreneurs. Their skill at telling complex stories and turning their startup experiences into clear, engaging writing makes them highly wanted.

• Podcasts and Keynotes: Many also become popular speakers at industry events, share their wisdom on podcasts, or write influential blogs. They turn their experiences into useful advice, reaching hundreds of thousands of aspiring entrepreneurs. Sachin Bansal, co-founder of Flipkart, has hinted about writing his life story on X, calling it "a story of grit and luck." Anupam Mittal also published "It Happened in India," which tells the story of Shaadi.com's growth.

• Fiction as Therapy: Some retirees are writing fiction to help them deal with their startup experiences. A founder from Chennai, who sold his SaaS company in 2022, is working on a sci-fi novel inspired by his struggles with investor pressure. Dr. Mahika, a former startup founder with a Ph.D. in Psychology, wrote books on mindfulness and spirituality after leaving her tech business. Abhijit Bhaduri, formerly with Wipro, now writes books on the future of work and runs a storytelling company. Ankur Warikoo, after stepping back from daily startup involvement, built a full-time career writing, speaking, and creating content.

2.4 Launching Cafes, Restaurants, or Boutique Hotels

After years of building invisible software or abstract digital services, the desire to create something real, something that offers immediate joy, is a strong pull for some founders.

• Creating Experiences: They open artisanal coffee shops, charming restaurants, or quaint boutique hotels. The success of hospitality leaders like Riyaaz Amlani, who built the famous 'Social' chain of cafe-cum-coworking spaces, shows how appealing this is. A former Swiggy executive started Third Wave Coffee Roasters, a chain now supported by angel investors like Sujeet Kumar (Udaan co-founder).

• Beyond Just Food and Stay: These aren't just typical businesses; they often become "experience hubs" or community centers. Imagine a cafe that also works as an informal co-working space for young founders, hosting small pitch sessions or book clubs about entrepreneurship. Pavan, founder of VTP Lounge LLP, left tech to bring Hard Rock Cafe and Central Tiffin Room to Bengaluru Airport.

• Experiential Dining: A new trend is retirees opening "experiential" dining spots. For instance, a former Ola employee opened a cafe in Delhi that doubles as a co-working space and art gallery. Pankaj Chaddah, co-founder of Zomato, started Mindhouse (now Shyft), a wellness startup. In addition, he opened a wellness-themed cafe in Delhi. Mehul Agrawal, formerly of Cars24, is part of an angel group that has supported over 10 independent cafes and food startups in Goa and Bangalore. In Mumbai, Neha Kant (formerly of Clovia) started a slow fashion studio where everything is hand-stitched, made-to-order, and carbon-neutral.

2.5 Embracing Social Impact and Philanthropy

For founders who have accumulated significant wealth, a powerful urge to give back to society often emerges. They shift their focus from making money to spending it for good, but with a unique entrepreneurial approach.

• Solving Problems, Not Just Funding Them: They approach giving with the same data-driven, scalable mindset they applied to their startups. While Nandan Nilekani, the co-founder of Infosys, is a massive example of strategic giving on a national scale (Aadhaar, IndiaStack), countless other exited founders quietly set up family foundations or directly fund causes they deeply care about.

• Targeted Impact: They invest in educational programs in rural areas that don't have enough resources, support affordable healthcare solutions through new models, or champion local environmental groups. For instance, Ritesh Agarwal (Oyo founder) has not only increased his angel investments but also funds education for underprivileged children. Similarly, Nandan Nilekani co-founded EkStep, a non-profit focused on digital learning.

• The "Reverse Startup" Trend: Some retirees are starting "reverse startups" – businesses designed to give back rather than grow huge. For example, a former Myntra executive started a cooperative in Rajasthan to train rural women in handicrafts, selling their products online. This isn't just charity; it's about finding a new purpose.

2.6 Rediscovering Art and Creative Pursuits

The intense pressure of startup life often pushes aside other talents and passions. After leaving their companies, with newfound time and financial freedom, many founders rediscover or dive deep into long-lost artistic hobbies.

• A Different Kind of Creation: This could involve anything from painting, sculpting, and music to photography or even filmmaking. The creative process offers a different kind of challenge and fulfillment, allowing them to express themselves freely, without market pressures or investor expectations.

• Beyond the Canvas: Another founder, who left his successful deep-tech company, enrolled in a film school in Mumbai. He's now following his long-held dream of documentary filmmaking. He travels to remote parts of India, telling stories of unsung heroes and forgotten cultures.

2.7 Channeling Energy into Extreme Sports and Adventure

The adrenaline rush of startup life, the constant chase for growth and overcoming problems, often finds a new outlet in physical challenges.

• From Boardroom to Mountain Peak: For those who thrived on market ups and downs and tough competition, extreme sports offer a different kind of "peak" to conquer. Mountaineering, ultra-marathons (very long running races), long-distance cycling, or even sailing become their new obsessions. A former fintech CEO went on a series of difficult mountaineering expeditions in the Himalayas. Another former executive, after building a successful online shopping brand, became a keen ultra-marathon runner. A former Paytm employee now runs a travel blog about his treks in Ladakh.

3. The Uncovered Roles

Beyond these more obvious changes, there are even more hidden and less talked-about roles that show the changing mindset of the retired Indian founder. These are the quiet contributions, the subtle changes, and the very personal journeys that rarely make big news but are important for the startup world's quiet growth.

3.1 "De-growth" Consultancy for Stressed Founders

In the often-tough world of startups, not every company becomes a huge success. Times of less funding hit hard, market conditions change, and sometimes, the best way forward isn't growth, but a graceful retreat or a planned reduction in size. This is where a truly unique and quietly important role has appeared.

• A Different Kind of Mentorship: Some founders who have left their companies, especially those who made difficult decisions, managed tough talks with investors, or even gracefully shut down their own ventures, are now specializing in "de-growth" consultancy. They advise other founders on how to responsibly shrink their business, manage their spending during a funding crunch, or even arrange a dignified closure.

• A Different Story: These consultants usually work quietly, building a reputation through word-of-mouth within close founder groups. They understand the deep emotional toll of a struggling startup and provide the necessary emotional and strategic help to founders making difficult, often heartbreaking decisions. They are like anti-gurus, teaching how to slow down, step back, and even retreat with a clear purpose, rather than always pushing for more.

3.2 Historical Research and Archiving Indian Startup Stories

The Indian startup world, despite its recent huge growth, is still quite young. Its early history, the difficult beginnings, the first sparks of new ideas, and the forgotten pioneers are mostly told through stories, not written down.

• Preserving the Unwritten History: Some retired founders, with their unique insider view and often careful minds, are becoming informal historians or "startup anthropologists." They interview early pioneers, carefully collect old stories, look through old news clips, and put together personal records.

• Beyond Official Reports: A former B2B software founder, after a successful company sale, is writing down the detailed story of specific tech clusters in India, like the early days of Bengaluru's Electronic City or the rise of the first call centers in Gurugram. He does this through honest interviews and personal memories.

3.3 Building Niche Hardware Products for Personal Hobbies

After working on huge, often invisible, software companies, some founders find great joy in creating things they can touch and feel. They return to the basic act of making things, focusing on highly specialized, often beautiful, hardware products for their personal hobbies.

• The Joy of Craftsmanship: It's a return to the basics of engineering and making things, free from the pressures of investment money, market share, and fast growth. A former ed-tech founder, now spends his days crafting high-end, custom-built mechanical keyboards for a very specific group of keyboard lovers.

• From Code to Custom Creations: Others might get into designing and building custom audio equipment for music lovers, detailed models, or even advanced, specially designed gardening tools.

3.4 Reviving Ancestral Businesses with a Modern Twist

Finally, a truly exciting, yet subtle, trend involves founders who, after experiencing the scale and new ideas of the startup world, go back to their family's traditional businesses.

• Blending Old and New: Instead of starting from scratch, they take over or update old family businesses – whether it's a textile factory, a manufacturing plant, or a farm. They bring startup ideas to these old businesses:

  • Starting Direct-to-Consumer (D2C) online stores: Selling products straight to customers worldwide, without needing traditional sellers in between.

  • Using sustainable practices: Making operations modern and good for the environment.

  • Updating branding and marketing: Giving traditional products a new, modern look that appeals to people globally.

  • Using data analysis: Using information to improve how products are made, sold, and moved.

4. The Emotional Side: The Struggle to Slow Down

One important thing that's rarely talked about is the emotional toll of leaving a startup. Founders are used to a life full of challenges – solving problems, chasing growth, living in a constant state of high energy. "Retirement," even with millions in the bank, can feel like an empty space.

• The Void: A former employee of a unicorn company, wrote, "After the exit, I felt like I lost my purpose. I tried golf, but it bored me." Many retirees I've talked to agree with this. They miss the constant buzz and the feeling of making things happen.

• FOMO (Fear Of Missing Out): When you're out, the startup world keeps moving very fast. New heroes appear, new companies rise. You can feel like you're becoming a part of history, not the present.

• Healing Takes Time: Some deal with this by jumping into new ventures, as we saw earlier. Others find completely new missions. But many simply need time to figure things out. They might spend years trying to find a new balance. A founder sold his logistics startup in 2021 and spent two years traveling the world. He then settled into a mix of angel investing and organic farming.

• Mental Health: Post-exit depression is a real thing. Several founders I spoke to admitted to feeling lost after leaving their companies. One said, "For years, I was someone because of my startup. After the exit, I had no idea who I was." Another mentioned going to therapy for the first time at 39, realizing she had "never actually slowed down enough to process anything."

5. The Future: What's Next for Startup Retirees?

As India's startup world grows and matures, we will see even more retirees. With 1,352 private equity and venture capital deals in 2024 and more companies being sold, the number of founders and early employees who have cashed out will increase. The current trends - angel investing, wellness, farming, writing, and cafes - will likely continue to grow, but new paths are also appearing:

• Deep Tech Exploration: Retirees are looking at new, complex areas like Artificial Intelligence (AI), clean energy technologies, and space tech. For example, a former Flipkart executive is now advising a space startup, inspired by India's Chandrayaan missions (moon missions).

• Content Creation: Some are becoming popular YouTubers or podcasters, sharing their startup stories and lessons. A former Razorpay employee's podcast on X now has 10,000 listeners, showing the power of personal storytelling.

• Policy Advocacy: Experienced retirees like Nandan Nilekani are working with the government to create policies that are friendly to startups, like ending the angel tax in 2024. They use their experience to shape the future rules of the game.

6. The Retiree Network: Informal "Exit Clubs"

Some retirees are forming informal "exit clubs" to support each other. I learned about one such group in Bengaluru through a LinkedIn connection. About 20 former founders meet monthly to discuss life after their companies, share investment opportunities, and even plan group trips to wellness retreats.

• These clubs are like mini-communities, fostering teamwork and emotional support. They're under the radar but could really change how retirees handle their next chapter. They provide a safe space to share fears, celebrate small wins, and navigate the often-lonely road of post-startup life.

• It's a testament to the idea that even after the official "exit," the bonds forged in the startup world often remain, providing a crucial support system for these founders as they redefine their purpose.

7. The Quiet Observers: Retiring From Public Life

Some founders simply disappear from the public eye.

• For instance, a logistics startup co-founder now lives in Pondicherry and refuses to take calls about "the startup world." His profile has been removed from LinkedIn. He just wants peace and quiet.

• Another founder of a popular local delivery startup from the 2010s moved to New Zealand with her family and now works part-time as a librarian. It’s a complete shift away from the limelight.

• A few, sadly, have vanished due to extreme burnout, legal issues, or very difficult exits. But for many others, it's about choosing privacy. One founder told me, "I've been in the news for 10 years. I now want to be a nobody." They seek a normal, quiet life away from the constant scrutiny.

8. A Few Have Gone... Corporate

Yes, some founders actually go back to regular jobs. And they often do very well in them.

• Alok Goel (FreeCharge): After his time at FreeCharge, he became a Managing Director at SAIF Partners (now Lightspeed Venture Partners), then joined Tracxn, a market intelligence platform.

• Ashish Kashyap (Goibibo): Ashish started INDwealth, a wealth management platform, then sold it. He's now back in the fintech space, but in a role that mixes leadership with investing.

• Some join family businesses, bringing their fresh ideas to old companies. Others move abroad to lead big departments at large international companies, using their hard-earned startup skills in a new environment.

9. The Impact Generation: Founders Building For Bharat

A growing trend is that many founders, after exiting their companies, are now focusing on solving problems for "Bharat" – the real India, beyond the big cities.

• Shashank ND (Practo): He is now supporting healthtech startups in smaller Indian cities (Tier 2/3).

• Nandan Reddy (Swiggy co-founder): He is working on new clean energy experiments in Andhra Pradesh, focusing on sustainable solutions.

• Varun Sheth (Ketto): He is now involved in rural education, working with tribal communities in Maharashtra.

• Anshulika Dubey (Wishberry): She runs training programs for creative entrepreneurs in small towns, helping local talent thrive.

• Others are:

  • Building new local brands for products and services.

  • Creating apps that focus on local languages.

  • Helping local artists and craftspeople sell their goods online.

This isn't just about charity; it's about finding a deeper purpose and using their skills to make a real, lasting impact on society.

Conclusion: A Life Beyond the Exit

India's startup retirees are a diverse bunch. Some chase new ventures, others seek peace in meditation or farming, and a few pour their hearts into books or cafes. What unites them is a restless drive to create, even after cashing out.

Retirement isn't about stopping; it's about redefining purpose. Whether it's micro-angel investing in smaller cities, writing sci-fi novels, or building rural cooperatives, these retirees are proving that life after an exit is anything but ordinary. As one ex-founder told us at a Mumbai startup event, "The exit was just the end of one story. I've got plenty more to write."