Lee Fixel’s new fund & curious India position; crypto firms’ hiring push

Madhav Chanchani

121 reads

Pratik Bhakta

192 reads

Madhav Chanchani

121 reads

Pratik Bhakta

192 reads

The former Tiger Global partner’s new firm, Addition, has raised its fourth fund in two years. But it has made only a handful of bets in India. Why? Plus, it’s not all doom and gloom in the crypto space, with platforms looking to add more staff

June 17, 2022

5 MINS READ

This week, news trickled through that Lee Fixel of Tiger Global fame had raised a new fund of $1.5 billion. It’s the fourth fund his new firm, Addition, has put together in 24 months, taking assets under management to nearly $6 billion.

Billion-dollar question: But here’s what we are curious about. Why was the man many credit with fuelling India’s consumer internet boom over the last decade mostly missing from action during the 2021 bull run here?

Fixel is known to have a nose for good timing. At Tiger, he was responsible for doubling down on Indian ecommerce major Flipkart, turning a $1-billion bet into a cash-out of over $3.5 billion. He dominated India’s startup funding scene with 40-plus investments in 2015 alone.

His new firm, though, has made only three investments in India so far. Overall, Addition has a portfolio of over 50 bets, largely in the US. The India deals:

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