Addition is a New York-based venture capital firm founded in 2020 by Lee Fixel, one of the most recognized growth investors of the past two decades. Fixel spent 13 years at Tiger Global Management, where he led the firm's technology investment practice and built a reputation for early, high-conviction bets on breakout companies. His most celebrated call at Tiger Global was Flipkart, the Indian e-commerce giant acquired by Walmart in 2018 for $16 billion. After stepping down from Tiger Global in mid-2019, Fixel launched Addition with the goal of running a more concentrated, founder-focused fund away from the scale and pace of a multi-billion-dollar hedge fund.
The firm closed its debut fund at approximately $1.3 billion in 2020, making it one of the larger first-fund launches of that year. Addition writes checks across growth and late-stage rounds, though it has shown willingness to lead Series B and Series C rounds where Fixel has strong conviction. The firm operates with a lean team and a deliberately small portfolio – a direct contrast to the high-volume deployment style Fixel practiced at Tiger Global. Geographic focus is primarily the United States, though the team evaluates global opportunities, particularly in markets where Fixel built relationships during his Tiger Global years.
Notable investments
- Stripe – the payments infrastructure giant, one of Addition's anchor positions in fintech
- Robinhood – the retail brokerage platform that sits at the intersection of fintech and crypto trading
- Brex – corporate card and financial services for startups
- Checkr – background screening platform used by gig-economy companies
- Fireblocks – digital asset infrastructure platform providing custody, transfer, and settlement for institutional crypto operations
Public information about Addition's full crypto-specific portfolio beyond Fireblocks and Robinhood is limited. The firm does not publish a portfolio page, and deal disclosures depend on press releases from portfolio companies.
Team
Lee Fixel is the sole named general partner on public record. He previously served as a partner at Tiger Global from 2006 to 2019. His track record there included early positions in Flipkart, Ola, Delhivery, and dozens of SaaS and consumer internet companies across the US, India, and Latin America. Fixel is known for moving quickly on deals and taking a hands-off operating stance with founders. Addition's broader team composition is not publicly disclosed beyond Fixel.
Recent activity
Addition has maintained a low public profile since its launch. The firm does not issue regular press releases, does not maintain a public blog, and Fixel rarely appears in media. As of early 2026, the firm has not publicly announced a second fund, though the pace of technology dealmaking between 2021 and 2023 suggests the debut fund may be largely deployed. Several Addition portfolio companies – particularly in fintech and infrastructure – saw valuation resets during the 2022–2023 market correction, which affected late-stage private tech across the board. Fireblocks, one of their most visible crypto-adjacent holdings, raised at a $8 billion valuation in early 2022 before the crypto winter compressed sentiment across the sector.
Addition occupies a niche position in venture: a large fund managed with the discipline of a small one. Lee Fixel's track record gives him access to competitive deals, and his reluctance to chase volume sets the firm apart from multi-stage platforms. For crypto and digital asset infrastructure companies, Addition's institutional credibility and fintech network make it a meaningful signal when the firm does lead a round. Whether Addition raises a second fund and shifts more capital toward blockchain infrastructure remains an open question – one the firm has not addressed publicly.