Addition was launched in 2020 by Lee Fixel, who had spent 13 years as head of Tiger Global Management's private equity business, where he led era-defining investments in Facebook, Spotify, Uber, Flipkart and Peloton. Based in New York's Park Avenue Tower, the firm is considered a classic "Tiger cub" — spun out of Tiger Global's DNA, with Fixel running it as the sole partner at the top, making the final decisions himself. That single-decision-maker structure was a deliberate break from the multi-partner approval process he found frustrating at Tiger.

The firm's thesis covers early and growth-stage technology companies worldwide, with roughly one-third of capital earmarked for early-stage investments and the rest for growth rounds. It invests across enterprise, consumer, fintech, AI, developer tools, cybersecurity and logistics, and has shown a notable appetite for India — a market where Fixel built his reputation, including leading Tiger's Flipkart investment. Assets under management were reported at US$7 billion in 2022.

  • Snyk — Addition led its $200 million Series D in 2020 and backed the $300 million Series E
  • Inshorts — a $35 million round led by Addition in 2020, its first big India bet from the new fund
  • Delhivery — the Indian logistics unicorn Fixel has backed since 2015, including pre-IPO rounds
  • Stripe, Hugging Face, Chainalysis, dLocal and Zap Energy — standout growth-stage positions
  • Lyra Health, Navan, Alchemy, SuperOps.ai, Tines, Render and Base Power — across enterprise, dev tools and energy

Fundraising has been rapid: Addition One Partners raised $1.3 billion in June 2020, followed by Addition Two at $1.4 billion just months later, then Addition Three ($1.5 billion, 2021), Addition Four ($1.5 billion, 2022) and Addition Five ($1.5 billion, 2023) — five funds in four years. Fixel is famously low-profile: the firm runs no public accelerator programmes or widely advertised founder perks, keeping its edge in deal speed and conviction rather than marketing.

Why it matters for founders

Pitching Addition means pitching Lee Fixel directly — one decision-maker, known for moving fast and writing large cheques after brief diligence. For Indian founders especially, few global investors know the market as deeply: Fixel backed Flipkart, Delhivery and Ola long before they were obvious, and Addition has kept India firmly in its sights.