Lee Fixel raises $1.3 bn for new fund 'Addition' to back multi-stage startups

Lee Fixel, the former Tiger Global executive who led some of the firm's major investments in Facebook, Spotify, Flipkart, Ola and others, has raised $1.3 billion for a new multi-stage venture capital firm called 'Addition'. The new fund has invested in Fauna, a tech company founded by former Twitter infrastructure leaders. The fund has a duration of 15 years.