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Lee Fixel is already raising a massive second fund

On Friday, former Tiger Global Management investor Lee Fixel registered plans for the second fund of his new investment firm, Addition, just four months after closing the first. In fact, according to a report on Friday by the Financial Times, Fixel has already secured a fresh $1.4 billion in capital commitments for that second fund, which Addition reportedly doesnt plan to begin investing until next year.
But a source close to the firm now says the fund is not, in fact, raised. Thats perhaps good news for investors who were shut out of Additions $1.3 billion debut fund and who might be hoping to write a check this time around.
The mere fact that Fixel is back in the market already has tongues wagging about the dealmaker, one whose reluctance to talk on the record with media outlets seems only to add to his mystique. Forbes published a lengthy piece about Fixel this summer, in which Fixel seems to have provided just one public statement, confirming the close of Additions first fund and adding little else. 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, it read.
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