Lee Fixel, the man behind Tiger Global's investments in Facebook, Spotify and Flipkart has a new $1.3 billion fund
Lee Fixelhas raised $1.3 billion for his fund Addition through which he will invest in multi-stage startups, reported Forbes.
- In India, Fixel is credited for
Tiger Global’s biggest investments – Flipkart, Ola, Delhivery and Quikr among others.
- He quit Tiger Global in 2019 and was rumoured to begin investing in India individually.
AdvertisementLee Fixel, the former Tiger Global executive, who led some of the firm’s best bets is back with a new fund. Fixel has raised $1.3 billion for his fund Addition through which he will invest in multi-stage startups, he told Forbes.
He is also the man behind the firm’s investments in unicorns like Flipkart, Ola, Delhivery, Quikr, among others.
At Addition, he would be the only partner taking all decisions. While Fixel hasn’t yet confirmed that the new fund will be focussed on India, reports say that he has been looking into Indian and South East Asian startups.
“We are excited to partner with visionary entrepreneurs, and with our 15-year fund duration, we have the patience to support our portfolio companies on their journey to build impactful and enduring businesses,” Fixel told Forbes.
The man who changed India’s startup scene
In India, Fixel is credited for Tiger Global’s biggest investment here – Flipkart and for being an investor who didn’t wait around to hand out cheques. Tiger Global made $3.5 billion from the Walmart-Flipkart deal.
“I would say he is the pioneer who single handedly put the Indian startup scene on the global map. When Lee started investing in India not many global VCs (venture capital firms) looked at India favourably and even if some did, the consumer internet space was certainly not top of mind. Lee helped change that, with his long-term investments in Flipkart, Myntra, Ola, and MakeMyTrip among others,” Binny Bansal, the co-founder of Flipkart had told ET.
When Fixel left Tiger Global in March 2019, it was reported that he would soon start investing in India in an individual capacity. However, that came with conditions – he had to wait for the non-compete agreement with Tiger Global to come to an end and he won’t be investing in the firm’s investee companies.
Here are the top startups that raised funding in June
- In the digital age, chivalry is both dead and alive
- India’s T20 seam bowling options have distance to cover before World Cup 2024
- High profile divorces are stories of claims and counterclaims best settled outside court
- Traffic jams, roads inundated; Heavy downpour in Chennai causes disruption to normal life
- Outgoing CM to union ministers: Bigwigs who slipped in Assembly Elections 2023