Addition was founded in 2020 by Lee Fixel, who spent 13 years at Tiger Global Management building its private equity business and global internet portfolio with early bets on Spotify, Uber, and Flipkart before departing in 2019. Fixel structured Addition around a deliberately lean, solo-decision-maker model - he remains the firm's sole publicly known general partner - allowing for fast, data-driven, founder-centric decisions on market-defining software companies across fintech, enterprise SaaS, deep tech, and crypto. That approach produced dLocal's $6 billion IPO in 2021, Addition's first major exit, and Fixel has since backed Snyk, Chainalysis, Hugging Face, Stripe, and Applied Intuition, raising five consecutive funds each exceeding $1.3 billion to reach more than $7 billion in total assets under management.
dLocal's 2021 NASDAQ IPO under ticker DLO at a $6 billion valuation - Addition's first major public exit, backing the Uruguayan payments company as an early investor