Addition (investment firm)
| Company type | Private |
|---|---|
| Industry | Venture capital |
| Founded | 2020 |
| Founder | Lee Fixel |
| Headquarters | New York City , United States |
Key people | Lee Fixel (Managing Partner) |
| Products | Venture capital investments in technology companies |
Addition is a venture capital firm headquartered in New York City, United States, specializing in investments in technology companies at both early and growth stages.
Background
In March 2019, Lee Fixel, who had led the private equity division at Tiger Global Management for 13 years, departed from the firm. During his tenure, Fixel was instrumental in Tiger Global's private investment successes, including stakes in notable companies such as Facebook, Spotify, and Uber. Sources suggest that Fixel desired greater independence in investment decisions, as Tiger Global's process required consensus among partners, and his seniority level made it improbable for him to assume leadership of the firm.
The following year, in 2020, Fixel established Addition, recognized as a Tiger Cub firm originating from Tiger Global. In June of that year, Addition secured $1.3 billion for its inaugural fund, Addition One Partners, and subsequently raised $1.4 billion for a second fund within the same year.
Fixel serves as the sole managing partner at Addition, holding ultimate authority over investment decisions. The firm follows a conventional management fee and carried interest compensation model. Investment strategy allocates roughly one-third of capital to early-stage ventures, with the remaining portion directed toward growth-stage companies.
Funds
| Fund | Vintage Year | Committed Capital (US$m) |
|---|---|---|
| Addition One | 2020 | 1,300 |
| Addition Two | 2020 | 1,400 |
| Addition Three | 2021 | 1,500 |
| Addition Four | 2022 | 1,500 |
| Addition Five | 2023 | 1,500 |