Lee Fixel sets to make come back as investor, to pour $1 Bn into Indian market

Former Tiger Global executive Lee Fixel, who quit the hedge investment firm in March, is all set to make a come back as an investor.

Fixel, this time around, will make investments through his new fund called Addition.

Ever since his departure announcement, Fixel has been busy working on his fund, through which he plans to invest in Indian and South-east Asian startups.

Fixel is planning to invest around $1 billion, said a Mint report quoting sources aware of the development.

He is reportedly set to stick to tech startups investment, which he had done while leading Tiger's investment in India, once the non-compete clause ends.

Fixel has been in talks with a couple of startups. As per sources, former Tiger executive is in talks to invest around $24 million in Jitendra Gupta led Amica Technology along with Sequoia Capital and Matrix Partners.

Earlier in March, Tiger Global had revealed that Fixel is planning to start his own investment firm.

During his 13 years stint at Tiger, he made over 40 investments in startups.

Among his most famous bets include Flipkart, Ola Delhivery and Quickr.

His early investment in Flipkart reaped more than double (about $3 billion) after Walmart acquired a majority stake in Flipkart last year. Besides, he also invested in global startups Facebook, LinkedIn and Spotify.

Meanwhile, Scott Shleifer took over the responsibility of private investments at Tiger Global after Fixel resignation. The second inning of Tiger seemed to initially start with B2B investment- close to 18 investments but later extended to B2C segment. Scott led almost $135 million investment in consumer-facing firms this year till August.

Fixel overall investment initiatives helped Tiger established as a prominent technology investment group. His instinct to identify startups and back them are among quality that hailed him as an investor with Midas touch.

Fixel, who has made half a dozen appearance in Forbes list in last 12 years, is ranked 43 in the list of Forbes Midas List. It will be interesting to see how Fixel will strategise his investment in India in his second inning as an investor.