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Addition
Lee Fixel's Addition manages roughly $2.8B in committed capital across two growth-stage funds, writing rapid-fire checks up to $200M into late-stage tech…
Addition
Addition invests in founder-led, technology-enabled companies.
General information
Firm type
Private Equity
Year founded
2020
AUM
Undisclosed
Location
Region
North America
Country
United States
City
New York
Corporate office
New York, NY, United States
Principals
Lee Fixel
Founder
Sector focus
Frequently asked questions
Who runs investment decisions at Addition?
Lee Fixel makes all material investment decisions as founder and sole managing partner. The firm has no investment committee beyond Fixel himself. This structure mirrors his tenure at Tiger Global, where he held a similar degree of personal discretion over the private portfolio.
How does Addition source proprietary deal flow?
Addition relies on Fixel's personal network of founders and executives built over two decades in venture and growth equity, particularly in the US and India. The firm does not maintain a business-development team or external-sourcing function. Most portfolio companies are approached by Addition rather than participating in competitive processes.
Is Addition structured as a family office or an institutional firm?
Addition is a registered investment adviser structured as a private equity firm, but its LP base is composed of tech founders and high-net-worth individuals rather than institutional allocators like pensions or endowments. The firm has not publicly disclosed plans to seek institutional capital.
Does Addition participate in fund commitments or only direct deals?
Addition makes only direct equity investments in operating companies and does not invest as a limited partner in other funds. The firm does not operate a fund-of-funds program or participate in club deals through intermediaries.
What investment stages does Addition typically target?
Addition concentrates on growth-stage and late-stage private companies with existing revenue and traction, though it has also taken public-equity positions in companies it backed pre-IPO. It generally avoids seed-stage and early-stage investing, preferring companies that have reached product-market fit and are seeking capital to accelerate scaling.
How is Addition related to Tiger Global?
Addition was founded by Lee Fixel after his departure from Tiger Global Management in 2019, where he led private equity investing for 13 years. Addition is an entirely separate legal entity with no ownership or structural ties to Tiger Global. The two firms share a similar investment pace and sector focus, reflecting Fixel's continuity of strategy.
Does Addition maintain philanthropic structures, and how are they separated?
No philanthropic foundation, donor-advised fund, or impact-investing vehicle associated with Addition or Lee Fixel is publicly disclosed. The firm's regulatory filings do not reference any charitable structures.
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