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Lee Fixel has raised a new $1.5 billion fund called Addition Four Partners, according to a US Securities and Exchange Commission filing, even as it has become harder to raise capital since the quantitative monetary tightening in the US.

Addition backs technology startups across funding stages, and has raised more than $4 billion across its first three funds. To date, the firm has made 94 investments and clocked three exits, according to CB Insights, a market intelligence platform.

The development on the fourth fund was first reported by news outlet DealStreetAsia earlier today.

Addition’s latest investment was in cosmetic-dermatology brand Ever/Body in May, where Addition participated in a Series B round led by Tiger Global Management, where Lee was formerly a partner.

Lee is best known as the VC and growth investor who backed Flipkart in 2009, when it was an early-stage startup. He steered it to an exit in mid 2018, when Walmart took a majority stake in the e-commerce company for $16 billion.

In September 2019, Lee founded Addition, a VC and growth capital firm in New York, which raised its maiden $1.2-billion fund in June 2020.

Addition raised $1.4 billion in October 2020, and another $1.5 billion a year later towards the second and third Addition funds.

In India, Addition’s notable investments include news media startup InShorts, SaaS platform SuperOps.ai, and social-network app Public.

It also has one exit in India, logistics platform Delhivery that went public last month. Fixel had invested in Delhivery when he was with Tiger Global Management in 2015. Last year, Addition infused $125 million in the IPO-bound company.