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SPARK OF THE CORPORATE

Lee Fixel, a reclusive investor of Tiger Global Management is well-known for the bold and brave investments to support the start-ups, especially in India, which is potential-rich in e-commerce and the market where some of the well-known investors were hesitant to invest. At his young age of 36, he became a part of 9 different directors’ board of different companies spread across 12 different countries. Having more than a decade of experience with Tiger Global Management, Lee Fixel follows his passion and invests in the internet and software startups worldwide. Fixel was one of the leading investors for some of the developing markets such as India.

Personal Life....

Fixel completed his graduation with Washington University in Business Administration, Finance and Accounting. He completed general course with London School of Economics and is also a Chartered Financial Analysts. Fixel got married to Lauren Fixel, who has done graduation in Journalism. Fixel is a media-shy and secretive investor, investing funds from being behind the scene.

In spite of being a successful venture capitalist and investing in big companies such as Facebook, LinkedIn and Flipkart, Fixel does not go in public and speak much. He likes to be a private person and so hardly much is known about his personal life.

Early Career....

Soon after becoming a licensed Chartered Financial Analyst, Fixel was associated with Alkeon Capital Management, which is an investment firm, focusing more on global growth equities. Fixel was associated as an analyst. Since 2006, Fixel was associated with Tiger Global Management as partner. He is still the member, board of directors for Flipkart.

The Spark at Tiger Global Management...

As a hedge fund and partner, Fixel’s career with Tiger Global Management started in 2006 and was responsible for investments in different public and private companies. Since 2006, Fixel serves as a partner at Tiger Global Management, and also is the head of Private Equity Business. The venture-growth business of Tiger Global Management is run by Fixel. Under his leadership, Fixel and Tiger’s investment spread across different countries world-wide such as India, China, Africa and Latin America. Investments in Facebook and LinkedIn are some of the bold moves by Fixel. These investment decisions enabled Fixel and Tiger Global Management in yielding huge gains once the stocks were issues public. Within no time, Fixel turned out to be a crucial, opportunistic personality in the tech world. In early 2015, his contributions towards Indian and other global markets were being recognized and his leadership was appreciated by promoting Fixel and giving him the responsibility to lead and head a $10 billion asset, private investment business segment of Tiger Global Management.

Leadership style...

Soon after becoming a part of Tiger Global Management, Fixel has developed himself as one of the crucial start-up investors. The investments made by Fixel for the start-ups usually exceed expectations of the entrepreneurs. He turned out to be tough competitor for other strong players in the investment market and in a very short time leaded the investment market. At the very young age of 38, he developed himself as a venture capitalist and served for nearly 12 years successfully and spread his arms to many countries. Fixel was successful in making investments in some of the countries apart from India like China, Latin America, Middle East and countries of South-East Asia. Even in US, He made investments for huge companies like Facebook, LinkedIn and in smaller start-up companies like Spotify. Some of the startup companies which have been developed by Fixel by his investments are Souq, which is being acquired by Amazon and MercadoLibre, eBay running successfully in Argentina. . In a very short period of two years, Fixel could successfully invest world-wide in about 20 start-ups which yielded huge and unprecedented returns.

By getting more than $3.5 billion for his investment of about $ 1 billion, Fixel gained unbelievable, stunning and remarkable returns on the investments ever made by anybody even by retaining around 5% stake in Flipkart. This is one of the greatest achievements by Fixel. From Fixel’s point of view, it was ‘The Great Escape’ strategy which made the achievement more impressive. Fixel as a venture capitalist turned out as a remarkable and with his ability could strike deals. The unconventional style of Fixel helped him to stay behind the scene and be ignored by the tech world, but his strong self-belief helped him and made him a top entrepreneur.

Shift in focus ...

Fixel by shifting his investment focus leads towards development of the Indian market. Fixel invested in Flipkart, one of the e-commerce start-up in India. Fixel is the God father of the Flipkart, especially in New York, and has lead to change the ecosystem of the Indian start-up companies.

During the period of 2010-2013 where the Indian internet market was not developed and where it was too nascent, and when other major global investors felt risky in investing, Fixel continuously pumped huge amounts and initiated confidence in other investors to come forward and invest.

At the time when Flipkart was struggling hard to sustain in the battle of Indian market share as against Amazon, it was Fixel, the partner of Tiger Global Management who came up with the best solution. The founder of Flipkart was among one of the very few people from India, who maintain a close friendship with Fixel.

A request was received by Fixel by the executives of Flipkart to replace the CEO of Flipkart, with the appropriate leader who proves as a best Savior. Fixel identified the best person to handle such situation is Kalyan Krishnamurthy, and sacrificed him for Flipkart India, while Krishnamurthy was serving as the right hand man for Fixel, at Tiger Global Management. Under the leadership of Kalyan Krishnamurthy, Fixel helped in preventing Flipkart overrun by Amazon. In short, he is known as Maharaja of the Indian e-commerce industry by his investments made on the bullish Indian Internet market especially on Flipkart.

Successful recovery....

Soon after his promotion, Fixel had to face hick-ups in his career growth. The gold mine of the Indian internet market, Flipkart was running in trouble and the other start-ups in Indian internet market were not playing well. By this pinch, Fixel was more careful in selecting the start-up for investments. Even the start-ups in which Fixel has invested such as PolicyBazaar, Razorpay etc, they were not that block buster’s as that of Flipkart or Ola. This situation was carefully handled by Fixel, initially by taking a step back-ward in investing by the end of 2015.

He shifted his focus from investments to making out from some of the investments which turned out to be risky, and towards fixing Flipkart.

Fixel by his smart move of getting back Krishnamurthy to Flipkart, in 2016, has helped in saving Flipkart from being collapsed. This bold move of Fixel, has initiated a turnaround and a successful turnaround was observed by the end of 2016. As a result, Walmart has come out with an offer of buying of about 77% of the shares of Flipkart for $16 billion. This resulted in Fixel getting net returns of $3.5 billion, the first ever time after being invested in Flipkart.

At the helm of investment industry...

Tiger Global Management is always considered as the hedge fund for only the start-up tech companies. The fact that start-up investors are usually considered as the fly-by-night operators without tech knowledge and would make investments without planning annoyed Fixel a lot. Not losing at this point, Fixel worked hard to turn and mould himself as a Venture Capitalist. Under the leadership of Fixel, Tiger Global Management also invested in Facebook and LinkedIn.

This Fixel could achieve as Fixel successfully proved himself as a venture capitalist in India, by making investments on some of the internet and software ventures. Some of his investments in Indian Market which proved to be major hits are Flipkart, Myntra, Ola.

His knowledge about the consumer internet business combined with his network of investors, the subject matter experts and start-up companies has lead to his success. He usually follows a transparent and ruthless approach while investing without even expecting shareholder rights from the companies he is making investments.

As an antagonist...

While on the positive front, Fixel has developed good relations with some of the most successful entrepreneurs who served as great leaders for the companies such as Flipkart and Myntra. On the other side, he was seen as an antagonist by some of the entrepreneurs who suffered by some of the decisions taken by Fixel.

As a Philanthropist...

On philanthropic front, Fixel and his wife has started a foundation under his name. He also contributes to other organizations such as The Michael J Fox Foundation, which is into researching medicine for Parkinson’s disease. He is also a member of Olin National Council, Washington University.

Awards...

Fixel has appeared on The Midas List six times, a list that identifies the top investors in the software industry world-wide ranked by Forbes Magazine.

Hope readers caught up the spark...

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