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$1.5 B raise for fourth fund sought by investment firm Addition

According to regulatory documents, Lee Fixel, the former chairman of Tiger Global’s private equity department, aims to raise $1.5 billion for his investment company Addition’s fourth fund.

The VC fund’s offering will last less than a year, according to a filing with the US Securities and Exchange Commission.

In 2020, Addition’s first fund raised $1.3 billion, while its second fund raised $1.4 billion in the same year. In 2021, it raised $1.4 billion for its third fund.

Seed-stage, early-stage, growth-stage, and later-stage enterprises are among the investments made by the New York-based venture capital company. It primarily invests in Asia’s consumer goods, consumer services, and information technology industries.

The addition has made 117 investments, according to Pitchbook, with 74 firms in its portfolio and five exits. Its most recent exit was Delhivery, an Indian logistics company in which it has invested US $125 million since 2015. The firm went public on May 11th.

Fixel’s aggressive investing strategy has returned roughly $6 billion to Tiger Global. His significant acquisitions include profiting from Walmart’s majority purchase of India’s Flipkart for US $3.5 billion, as well as IPO earnings from Spotify, Eventbrite, Tencent Music, and SurveyMonkey.

Fixel’s aggressive investing strategy has returned roughly $6 billion to Tiger Global. His significant acquisitions include profiting from Walmart’s majority purchase of India’s Flipkart for US $3.5 billion, as well as IPO earnings from Spotify, Eventbrite, Tencent Music, and SurveyMonkey.

 

 

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