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Addition is a New York-based venture capital firm founded in 2020 by Lee Fixel, who previously led Tiger Global's private equity business. The firm has quickly established itself in the venture capital landscape, managing over $7 billion in assets across five funds raised in less than four years. Addition's rapid growth is underscored by its ability to attract significant capital and make impactful investments in technology-driven companies.
Lee Fixel, recognized for his investment acumen, is the sole decision-making partner at Addition. His experience and insights, honed during his tenure at Tiger Global, have positioned Addition as a formidable player in the venture capital space. The firm has a lean team structure, allowing for swift decision-making and execution.
Notable milestones include the successful launch of five funds, with the latest, Addition Five, targeting $1.5 billion. The firm has made 164 total investments, achieving 10 notable exits, including companies like Stripe and Snyk. Addition's focus on technology-enabled businesses reflects its commitment to identifying and supporting high-growth potential ventures.
Addition invests primarily in founder-led, technology-enabled businesses, with a strategic allocation of approximately one-third of its capital to early-stage ventures and two-thirds to growth-stage opportunities. The firm targets multi-stage investments across several sectors, including software, consumer technology, fintech, and artificial intelligence. This diversified approach allows Addition to capitalize on emerging trends and support companies at various stages of their development.
The check size range for investments typically falls between $10 million and $200 million, with a sweet spot around $30 million to $50 million. Addition's investment strategy is characterized by a high velocity of capital deployment, enabling the firm to make significant investments quickly. Lee Fixel's role as the sole decision-maker facilitates a streamlined investment process, allowing Addition to act decisively in a competitive market.
Geographically, Addition focuses on North America and India, leveraging Lee Fixel's deep expertise in emerging markets from his time at Tiger Global. The firm seeks to partner with visionary founders who are building transformative technology solutions, emphasizing the importance of strong leadership in its investment criteria.
Addition's portfolio consists of 164 total investments, with 10 notable exits that highlight the firm's successful investment strategy. Key portfolio companies include:
In the artificial intelligence sector, Addition has made significant investments in:
One of Addition's notable exits includes the IPO of dLocal, which achieved a valuation of $6 billion in 2021. The firm's latest investment was in Hello Vet, a Series A round completed in December 2025.
Lee Fixel - Founder and Sole Decision-Maker. Lee has a distinguished background as the former head of Tiger Global's private equity business and has appeared on the Forbes Midas List 12 times throughout his career. His expertise lies in identifying high-potential technology investments.
Todd Arfman - Partner. Todd brings valuable experience to Addition, contributing to the firm's investment strategy and portfolio management. His background includes working with various technology companies, enhancing Addition's focus on founder-led ventures.
To pitch Addition, startups should ideally secure a warm introduction through mutual connections. A well-prepared pitch deck is essential, detailing the business model, market opportunity, and team qualifications. While there is no specific application portal mentioned, founders should be ready to engage in discussions about their vision and growth strategy.
Response times can vary, but Addition's streamlined decision-making process typically allows for quicker feedback compared to firms with more complex partnership structures. Founders should be prepared for follow-up questions and discussions to further explore their business potential.
On December 11, 2025, Addition made its latest investment in Hello Vet, a Series A round. This investment reflects the firm's ongoing commitment to supporting early-stage technology companies.
In November 2025, Addition celebrated the exit of Chronosphere, further solidifying its track record of successful investments. The firm continues to actively deploy capital across both early and growth stages, with a focus on high-potential technology sectors.
What are Addition's investment criteria?
Addition focuses on founder-led, technology-enabled businesses across various sectors, including software, consumer tech, fintech, and AI. The firm allocates approximately one-third of its capital to early-stage ventures and two-thirds to growth-stage opportunities.
How can startups apply or pitch to Addition?
Startups interested in securing investment from Addition should prepare a comprehensive pitch deck that outlines their business model, market opportunity, and team. While specific application forms are not mentioned, a warm introduction is preferred.
What makes Addition different from other venture capital firms?
Addition's unique structure features Lee Fixel as the sole decision-maker, allowing for rapid investment decisions without the delays of partnership consensus. This model enables the firm to act quickly in a competitive landscape.
What is the geographic scope of Addition's investments?
Addition primarily invests in North America and India, leveraging Lee Fixel's extensive experience in emerging markets from his previous role at Tiger Global.
What is the typical check size for investments?
Addition typically invests between $10 million and $200 million, with a sweet spot around $30 million to $50 million. This allows the firm to make significant investments in high-potential companies.
What kind of post-investment involvement does Addition have?
Addition provides operational support and access to its extensive network, helping portfolio companies scale effectively. Lee Fixel's expertise and insights are valuable resources for founders navigating growth challenges.
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