# Addition: portfolio, investments and team

> Addition is a private equity based in United States. 58 investments on record, 19 in the last 12 months, latest Sept 2026.

Source: https://millionrounds.com/fund/addition (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Addition

Last cheque observed Sep 2026; 58 cheques on record.

Email

Deploying now New fund $97M, Jun 2026 Private equity

Pre-seed Seed Series A Technology

Follow Addition and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Faddition)

Deploying now

**83%** of best year **19** **cheques in 12 months**, 58 on record

Since the last cheque **60** days **00** hrs **00** min **00** sec

Median round **$38M** Cheque size, as they say **$1.0M – $500M** Rounds led **10 of 58** Sole investor **5 rounds** Mostly in **United States, 72%**

Pitch Addition

## Addition highlights

- 01 19 cheques in the last 12 months
- 02 Mostly Series B and Series A: 52% of its rounds
- 03 Sole investor in 5 rounds, median $29M

## What they do

> We invest in early & growth stage technology companies. From their own website

- **Type:** Private equity (from a list, unverified)
- **Cheque size:** $1.0M – $500M as they say
- **Stages:** Pre-seed Seed Series A Series B Growth Pre-IPO
- **Sectors:** Technology
- **Based in:** New York, United States
- **Cold pitches:** Not accepted

## The record

Every round we can evidence, newest first **58 appearances**

- **2026** 13 rounds
- **Sept** **[Snorkel AI](https://millionrounds.com/company/snorkel-ai)** Growth · US · Blumberg Capital **$350M** With 18 others
- **Aug** **[Base Power](https://millionrounds.com/company/base-power)** Series D · US · TechCrunch **$1.0B** *Led*
- **Jul** **[Satispay](https://millionrounds.com/company/satispay)** Debt · IT **$34M** With 4 others
- **Jun** **[Airwallex](https://millionrounds.com/company/airwallex)** Series H · SG · Startup Daily **$460M** *Led*
- **Apr** **[Chapter](https://millionrounds.com/company/chapter)** Series E · US · Ventureburn **$100M** With 11 others
- **Apr** **[Speckle](https://millionrounds.com/company/speckle)** Venture · GB **Undisclosed** With 3 others
- **Mar** **[Stedi](https://millionrounds.com/company/stedi)** Series C · US · Ventureburn **$50M** *Led*
- **Mar** **[Frore Systems](https://millionrounds.com/company/frore-systems)** Series D · US · TechStartups **$143M** With 9 others
- **Mar** **[Grafana Labs](https://millionrounds.com/company/grafana-labs)** Series E · US · AlleyWatch **$250M** *Led*
- **Mar** **[Ernesta](https://millionrounds.com/company/ernesta)** Series B · US · AlleyWatch **$20M** *Led*
- **Mar** **[Xscape Photonics](https://millionrounds.com/company/xscape-photonics)** Series A · US **$37M** With 3 others
- **Mar** **[PQShield](https://millionrounds.com/company/pqshield)** Venture · GB **Undisclosed** With 4 others
- **Feb** **[Render](https://millionrounds.com/company/render)** Series C · US · TechStartups **$100M** With 7 others
- **2025** 17 rounds
- **Dec** **[Airwallex](https://millionrounds.com/company/airwallex)** Series G · AU · TechStartups **$330M** *Led*
- **Dec** **[RelationalAI](https://millionrounds.com/company/relationalai)** Venture · US **$23M** With 3 others
- **Dec** **[Biologica](https://millionrounds.com/company/biologica)** Seed · US **$7.0M** With 2 others
- **Dec** **[Hello Vet](https://millionrounds.com/company/hello-vet)** Series A · GB **$20M** Sole investor
- **Nov** **[Path Robotics](https://millionrounds.com/company/path-robotics)** Venture · US **Undisclosed** With 4 others
- **Nov** **[CloudX](https://millionrounds.com/company/cloudx)** Series A · US **$30M** With 2 others
- **Oct** **[Base Power](https://millionrounds.com/company/base-power)** Series C · US · TechCrunch **$1.0B** *Led*
- **Sept** **[Flox](https://millionrounds.com/company/flox)** Series B · US · TechStartups **$25M** *Led*
- **Sept** **[Maybell Quantum Industries](https://millionrounds.com/company/maybell-quantum-industries)** Series B · US **$40M** Sole investor
- **Sept** **[PassiveLogic](https://millionrounds.com/company/passivelogic)** Series C · US **$74M** With 3 others
- **Jun** **[Applied Intuition](https://millionrounds.com/company/applied-intuition)** Growth · US · TechCrunch **$600M** With 19 others
- **May** **[Seqera](https://millionrounds.com/company/seqera)** Series B · ES **$26M** With 2 others
- **Apr** **[Chapter](https://millionrounds.com/company/chapter)** Growth · US · TechCrunch **$75M** With 6 others
- **Apr** **[Base Power](https://millionrounds.com/company/base-power)** Series B · US · Crunchbase News **$200M** *Led*
- **Apr** **[Branch](https://millionrounds.com/company/branch)** Venture · US **$5.0M** With 5 others
- **Apr** **[Navan](https://millionrounds.com/company/navan)** Venture · US **Undisclosed** With 5 others
- **Jan** **[SuperOps](https://millionrounds.com/company/superops)** Series C · IN · TechCrunch **$25M** With 3 others
- **2024** 10 rounds
- **Nov** **[OneChronos](https://millionrounds.com/company/onechronos)** Series B · US · AlleyWatch **$32M** *Led*
- **Oct** **[PyrAmes, Inc.](https://millionrounds.com/company/pyrames-inc)** Grant · US **$50K** With 3 others
- **Oct** **[Speckle](https://millionrounds.com/company/speckle)** Series A · GB **$13M** With 2 others
- **Jul** **[Lekko](https://millionrounds.com/company/lekko)** Seed · US **$4.5M** With 4 others
- **Jun** **[Stacklet](https://millionrounds.com/company/stacklet)** Series B · US **$15M** With 2 others
- **Jun** **[PQShield](https://millionrounds.com/company/pqshield)** Series B · GB **$37M** With 4 others
- **Jun** **[Onehouse](https://millionrounds.com/company/onehouse)** Series B · US **$35M** With 3 others
- **May** **[GrubTech](https://millionrounds.com/company/grubtech)** Series B **$15M** Sole investor
- **May** **[Frore Systems](https://millionrounds.com/company/frore-systems)** Series C · US **$80M** With 4 others
- **Feb** **[Daedalus](https://millionrounds.com/company/daedalus)** Series A · DE **$21M** With 3 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **4 named**

GC **Glenn Craig Ormsby** Chief Financial Officer i Form ADV

JC **Jason Cordell Spears** Chief Compliance Officer i Form ADV

LJ **Lee Jared Fixel** Limited Partner i Form ADV

WH **Ward Howard Breeze** General Counsel i Form ADV

We also hold **10** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$9.2B** gross assets of its funds Oct 2026

**5+** funds on file numbered funds in its name

**Exempt** reporting adviser venture or small private funds

- **Legal name:** Addition, L.P.
- **SEC number:** CRD 309075

New fund on file

**$97M**

raised in Jun 2026

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Pre-seed Seed Series A

Median round joined **$38M** the round, not its cheque Alone, median **$29M**

Led 10 of 58 rounds **17%**

- **Said size:** $1.0M – $500M
- **Sole investor:** 5 rounds
- **Last cheque:** Sept 2026

Rounds by stage said on their site

- Series B said *15*
- Series A said *11*
- Series C *11*
- Venture *8*
- Growth said *3*
- Seed said *2*
- Pre-seed said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Coatue](https://millionrounds.com/fund/coatue-management) 6
- [Lightspeed Venture Partners](https://millionrounds.com/fund/lightspeed-venture-partners) 6
- [Andreessen Horowitz](https://millionrounds.com/fund/andreessen-horowitz) 5
- [SV Angel](https://millionrounds.com/fund/sv-angel) 5
- [Tiger Global Management](https://millionrounds.com/fund/tiger-global-management) 5
- [Y Combinator](https://millionrounds.com/fund/y-combinator) 5

**Pitching Addition?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Addition. A count of rooms they were both in, not a relationship either has claimed.

[**Coatue** VC firm **6** rounds together](https://millionrounds.com/fund/coatue-management)[**Lightspeed Venture Partners** VC firm **6** rounds together](https://millionrounds.com/fund/lightspeed-venture-partners)[**Andreessen Horowitz** VC firm **5** rounds together](https://millionrounds.com/fund/andreessen-horowitz)[**SV Angel** VC firm **5** rounds together](https://millionrounds.com/fund/sv-angel)[**Tiger Global Management** VC firm **5** rounds together](https://millionrounds.com/fund/tiger-global-management)[**Y Combinator** Accelerator **5** rounds together](https://millionrounds.com/fund/y-combinator)[**Techstars** VC firm **4** rounds together](https://millionrounds.com/fund/techstars)[**BoxGroup** VC firm **3** rounds together](https://millionrounds.com/fund/boxgroup)[**Fidelity** VC firm **3** rounds together](https://millionrounds.com/fund/fidelity)[**Frontline Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/frontline-ventures)[**General Catalyst** VC firm **3** rounds together](https://millionrounds.com/fund/general-catalyst)[**Greylock** VC firm **3** rounds together](https://millionrounds.com/fund/greylock-partners)

## Recently backed

The latest companies Addition put money into.

[**Snorkel AI** $350M · Sept 2026](https://millionrounds.com/company/snorkel-ai)[**Satispay** $34M · Jul 2026](https://millionrounds.com/company/satispay)[**Airwallex** $460M · Jun 2026](https://millionrounds.com/company/airwallex)[**Stedi** $50M · Mar 2026](https://millionrounds.com/company/stedi)[**Frore Systems** $143M · Mar 2026](https://millionrounds.com/company/frore-systems)[**Grafana Labs** $250M · Mar 2026](https://millionrounds.com/company/grafana-labs)

## On podcasts

2 episodes naming Addition in the title, and 4 more that mention it.

- [Sourcery](https://millionrounds.com/podcasts/sourcery) 8 Oct 2025 · 38 min Base Power Raises $1B led by Addition, with Trust Ventures, Valor Equity, Thrive, Lightspeed, a16z, Altimeter, Stepstone, Elad Gil Mentions [Addition](https://millionrounds.com/fund/addition)[Altimeter](https://millionrounds.com/fund/altimeter-capital)[Elad Gil](https://millionrounds.com/fund/elad-gil) *+5* Apple PodcastsShow page
- [Sourcery](https://millionrounds.com/podcasts/sourcery) 9 Apr 2025 · 58 min Base Power's $200M Series B Co-Led by Lee Fixel of Addition, A16Z, Lightspeed, & Valor Equity Partners Mentions [Addition](https://millionrounds.com/fund/addition)[Lee Fixel](https://millionrounds.com/fund/lee-fixel)[Valor Equity Partners](https://millionrounds.com/fund/valor-equity-partners) *+4* Apple PodcastsShow page

### Mentioned in

- [Sourcery](https://millionrounds.com/podcasts/sourcery) 3 Aug 2026 · 25 min Base Power Hits $13B Valuation on $1B Series D Apple PodcastsShow page
- [Sourcery](https://millionrounds.com/podcasts/sourcery) 6 Apr 2026 · 32 min Applied Intuition: The $15B Physical AI Company (You Should Know) Apple PodcastsShow page
- [In Depth](https://millionrounds.com/podcasts/in-depth) 6 Nov 2025 · 1h 24m How to build a company you’ll run forever | Zack Kanter (Founder and CEO of Stedi) Apple Podcasts
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 2 Jun 2023 · 24 min 20VC: Who Wins the AI Race; Startups or Incumbents & Does Having Proprietary Data Really Matter For Startups Today? Apple PodcastsShow page

## Quick answers about Addition

### What does Addition invest in?

Addition invests most often at Series B and Series A (52% of the rounds on record), in sectors such as Technology.

### How active is Addition?

58 investments on record, 19 of them in the last 12 months, and it led 10. The most recent was in Sept 2026.

### What has Addition invested in recently?

Its most recent investments on record: Snorkel AI (Growth, Sept 2026), Base Power (Series D, Aug 2026) and Satispay (Debt, Jul 2026).

### How big are Addition's cheques?

The median round it joins is $38M. It says it writes cheques of $1.0M to $500M.

### Does Addition lead rounds?

Yes: it led 10 of its 58 investments on record (17%).

### Where does Addition invest?

Most of the companies it backs are in the United States (72%) and the United Kingdom (13%).

### Is Addition investing now?

Yes: it is actively investing, with 19 investments in the last 12 months.

### Who does Addition invest alongside?

Most often Coatue (6 rounds together), Lightspeed Venture Partners (6 rounds together) and Andreessen Horowitz (5 rounds together).

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