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Lee Fixel, the low-flying head of Tiger Global’s private equity business, is leaving at the end of June, the firm announced today in a letter sent to clients and seen by Reuters. Scott Shleifer and Chase Coleman will continue as co-managers of the portfolios Fixel has overseen, with Shleifer taking over as its head, according to the letter.
Fixel, 39, is reportedly planning to invest his own money and “may start an investment firm in the future,” Tiger Global wrote in the letter.
Move - Bit - Surprise - Fixel - Shadows
The move comes as a bit of a surprise. Despite that Fixel has operated largely in the shadows, avoiding public appearances unlike many investors, he has had an outsize impact on the venture industry over the last decade or so, as Tiger has shown up on the cap tables of a growing number of venture-backed companies. Among its portfolio companies is Stripe, the payments company that’s currently valued at $23 billion by private investors (with no apparent plans to go public); Panda Selected, a Beijing-based shared-kitchen company that just raised $50 million in Series C funding led by Tiger; and Olo, a 13-year-old mobile and online ordering platform for restaurant chains, who sold $18 million worth of secondary shares to Tiger in January.
Over time, investors in Silicon Valley who once viewed Fixel as something of a casino capitalist came to deeply respect him, seemingly, with Benchmark’s Bill Gurley referring publicly to Fixel as among the smartest investors on the scene.
Evidence - Claim - Sale - Year
There’s some evidence to support the claim, including the sale last year...
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