Who is Ethan Agarwal, the Indian-American entrepreneur running for California governor

Ethan Agarwal, a 40-year-old Indian-American entrepreneur based in Silicon Valley, has declared his candidacy for Governor of California (2026) as a pragmatic Democrat and staunch capitalist. With a track record that includes co-founding Aaptiv and The Coterie, he seeks to apply startup-style innovation and business acumen to tackle California’s economic and infrastructural crises.

Agarwal co-founded Aaptiv, an audio-focused fitness app, which secured significant venture backing from players like Amazon and Disney before being acquired by Pear Health Labs. He then co-founded the fintech startup The Coterie.

Born in Montreal in 1985 and raised in Los Gatos, California, Agarwal is the son of Vinod K. Agarwal, a former McGill professor who founded semiconductor firm LogicVision, which went public in 2001.

He graduated from The Harker School in 2003 and earned dual bachelor’s degrees in economics and political science from Johns Hopkins University in just three years, where he also served as executive student body president. He subsequently earned an MBA in finance from the Wharton School in 2011.

After graduating, Agarwal cut his teeth in high-stakes environments at Lehman Brothers, LionEye Capital, and McKinsey & Company, gaining experience in finance, hedge funds, and strategic consulting.

Agarwal positions himself as a “Democrat who believes in capitalism,” asserting that business and tech acumen are essential to addressing California’s economic challenges—especially its high cost of living and the exodus of residents, businesses, and film productions.

Immigration: He supports easier and faster legal immigration and advocates for “common sense solutions” to illegal immigration, describing it as a net positive that fuels business creation and community contributions.

AI and Crypto: Agarwal likens artificial intelligence to the internet’s emergence decades ago, seeing it as a catalyst for education, breakthroughs, and innovation. He wants California to be a national leader in crypto, proposing regulatory sandboxes and incentives for blockchain and clean energy infrastructure.

Education: He believes public schools should allow for student specialisation and compensate top teachers generously, viewing education as a silver bullet for societal challenges.

Government role: Agarwal argues for a small, efficient government focused on infrastructure, education, and public safety, warning that over-involvement in the economy can hinder growth.

Additional pro-democratic values: He is pro-choice, supports gun control, and immigration, while steadfast in his belief that capitalism is a powerful lever to address issues like poverty, education, and the energy crisis.

Agarwal acknowledges comparisons to New York mayoral candidate Zohran Mamdani due to their similar age and Indian heritage, but emphasises that his approach is rooted in pragmatic, business-driven solutions, not political ideology. “We have some things in common… but I fiercely support capitalism and meritocracy,” he told Axios.

He’s already mobilising Silicon Valley for support: Y Combinator President Garry Tan and DoorDash co-founder Stanley Tang are hosting fundraising events, with virtual rallies scheduled for September 14 and 21.

While his business background gives him a strong financial network and ideological clarity, Agarwal faces a steep uphill climb in a crowded Democratic field—particularly given his relative lack of statewide name recognition.