Tiger’s Fixel Leads Investor Incursion Onto Venture Turf

John Foley had been trying for two years to raise new funding for Peloton Cycle, a startup that sells $2,000 bikes for spinning classes along with software. Then Lee Fixel came calling.

Fixel, a partner at hedge fund and private equity firm Tiger Global Management LLC, quickly offered to put $5 million into Peloton. That helped lead to a $10.5 million round last month for the 43-person startup, which is based in New York.