Adits acquires shares in category-leading, high-growth private companies via direct investments in primary rounds or early. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. Team Adit has relationships cultivated over their 175 years of principal investing experience. The nature and timing of company exits may be changing, but we believe this creates opportunities for investors to build their portfolios of potentially market-leading companies before they go public. Jon will work with Adit in launching a new early stage venture platform, to complement existing Adit offerings. Adit seeks to capitalize on long-term secular trends in the global economy where we see dynamic growth, opportunities for long term capital appreciation and to make a positive impact on the world by improving quality of life, while generating a robust return on our invested capital in alignment with investors principles. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. TEL-AVIV, Israel, June 10, 2021 /PRNewswire/ -- Noveto Systems, today announced the successful completion of a bridge of $10 Million from renowned technology investorsAdit Ventures, a firm that has invested in some of the world's leading disruptive companies, with exits in GoPro, Spotify, Palantir and Lyft. this transaction., David Shrier, CEO of Adit EdTech, added, Carbon-free mining is the future of bitcoin. He writes daily on global markets and is a frequent expert panelist on networks like CNBC, Fox Business, Fox News, CNN, and Bloomberg, and is cited frequently by publications and websites like CNNMoney.com, Barron's, the Wall Street Journal, and the Washington Post. The device is smart assistant compatible, seamlessly connecting to your smart home network. from 8 AM - 9 PM ET. GRIIDs existing management team, led by President and SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 "Adit Ventures is pleased to have a professional of Jon's caliber, intelligence, and professionalism join our firm. He brings decades of institutional experience and industry knowledge to Adit's growing team of 16 professionals" said Eric Munson, Founder & CIO of Adit Ventures. "He adds both institutional caliber diligence experience & skills from the world's largest bank, as well as family office and boutique private equity knowledge"Munson added. His 35 years of experience spans alternative asset management, corporate finance, mutual funds, private equity & venture capital having built, developed & managed 18 different funds, while raising assets in excess of $20b over the past 25 . Featuring a depth camera, AI-based built-in face tracking, voice recognition, advanced microphones, and sensors, the device enables a simple and intuitive personalized experience - a benchmark for the future of smart living. Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, Join to view profile Adit Ventures, LLC. from 8 AM - 9 PM ET. InnovationInstitute. Commenting on the news, Munson said: "We invest in disruptive companies with the potential to cross verticals and scale at pace. The insurance industry is nothing new to Aanika, CEO Vishaal Bhuyan co-authored 3 books with FT Press and Wiley, on the use of insurance to address issues such as over-fishing, under-funded pensions and water scarcity. NEW YORK, March 30, 2021 /PRNewswire/ -- Adit Ventures is proud to announce its latest offering, Adit Genesis I, LP led by Managing Director Jon Cholak. the transaction may not be completed by Adit EdTechs business combination deadline and the risk that Adit EdTech may not obtain an extension of the business combination deadline if sought by Adit EdTech, (iii)the failure to satisfy the MW will be operational by 2023, with a breakeven bitcoin production cost materially below its peers and a cost of scaled bitcoin production of under $6,225 per BTC. Adit Ventures is a family-office owned investment firm with offices in California, Florida, New York, Texas, Utah and Washington D.C. An "Adit" is an entrance to a mine and serves as an anagram for the firm's services, since it provides Access, Diligence, Insight and works with Trusted partners across the United States and around the world. CIO & Founder at Adit Ventures, LLC New York, New York, United States. Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 At Adit Ventures, we offer curated and professionally managed access to equity in private firms that we believe are driving today's market and shaping tomorrow's economy. He continued: It is rare to find compelling technology coupled with a difficult to replicate market strategy, which is what I believe Aanika has here. pipeline of low-cost, carbon-free power, distinctive access to next generation ASICs, and market-leading execution position them to generate attractive profitability and growth., Eric Munson, Adits founder and Managing Partner, said, GRIIDs focus on utilizing next generation computing power for more efficient clean vertically integrated business model and power pipeline, GRIID is leading the global effort to support the Bitcoin network and carbon-free energy markets. Adit's invested in some of the world's leading companies with exits in GoPro, Spotify, Snap and Lyft. Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain Team Adit has relationships cultivated over their 175 years of principal investing experie nce. With its unique and commercial due diligence. -Is there a good management team, with depth and experience in meeting challenges, competitive threats and executing its goals? Internet Explorer presents a security risk. The funds will support rapid expansion, with plans to triple the headcount over the next year. The landscape for markets and investments is constantly evolving. Total number of diversity investments made by an investor, Total number of employee profiles an organization has on Crunchbase, Total number of Crunchbase contacts associated with this organization, Descriptive keyword for an Organization (e.g. investments that create positive change. The transaction is expected to provide approximately $246 million of cash at closing from Adit EdTechs trust account, after payment of Adit EdTechs transaction expenses and without giving effect to any redemptions by Adit EdTech public -Does it have a good capital base, board of directors/investors and well-regarded savvy Venture Sponsors? shall not constitute an offer to sell or a solicitation of an offer to buy the securities of GRIID, the combined company or Adit EdTech, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, AI-based online learning platform adds to $7.5 million Series A investment round from January 2021, bringing total funding to $22.5 million. from 8 AM - 9 PM ET. from 8 AM - 9 PM ET. New York, New York, United States 11-50 Family Investment Office, Secondary Purchaser, Venture Capital Early Stage Venture, Late Stage Venture, Secondary Market www.aditventures.com 6,552 Highlights Funds 3 Investments 24 Adit EdTech intends to file a proxy statement with the SEC. financial advisor to Adit EdTech for capital markets and M&A advisory services. Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. -Revenue growth rate drives future valuation, so is a key element to Adit.-Margins and cash flows are vital to an enterprise's success, and drive valuation.-Scalability of business across various markets is a big factor in the valuation of any business. Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public 1345 Avenue ofthe Americas, FL 33New York, NY 10105, Video player - eric-munson-thumb - Click to play video, Car sharing startup Turo reveals revenue surge in IPO filing, Forge Global to Go Public in $2 Billion Merger with Motive Capital Corp, Car-sharing marketplace Turo confidentially files for U.S. IPO, Hong Kongs Mr. Michael Block, a well-known market strategist and corporate advisor, has joined Adit Ventures, a New York late stage venture capital investment firm focused on companies driving today's market and tomorrow's economy, as Special Advisor. (Adit EdTech) (NYSE: ADEX, ADEX.U, and ADEX.WS), a special purpose acquisition company sponsored by an affiliate of Adit Ventures, LLC (Adit), announced today that they have entered into a definitive merger agreement under The desktop device comes alive with the backing of engineering partner Foxconn, the biggest consumer electronics manufacturer globally. Mr. Cholak has deployed over $90M in early stage capital across 15+ companies, with multiple successful exits. Angel, Fund of Funds, Venture Capital), General contact email for the organization. Issuer's Identity 2. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. Adit EdTech also will file other documents regarding the proposed transaction with the SEC. See Eric L Munson's compensation, career history, education, & memberships. Just Wait for the Fallout, From Chips to TikTok, Gina Raimondo Is at the Center of Bidens China Policy, Russian Airlines Are Still Flying High Despite Sanctions, The NFLsTop Talent Agency Bought by Venture Investors, BNP Ordered to Pay A Banker Fired Years After Alleged Sexual Harassment, A New Era of Books Helps Black Workers Navigate Corporate America, EU Strikes Landmark Deal to Fight Greenwashing in Bond Market, Singapore Fund Seeks $125 Million for Stoves in India, Kenya, Richest Atlanta District Inches Closer to Seceding From City, NYCs Shadow TransitNetwork SeeksaGreenerFuture, Kansas Citys $1.5 Billion Airport Renovation Spurs Hopes for Business Boom, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. Adit Ventures is a venture capital firm with offices in California, Florida, New York, Texas, and Utah. For investor inquiries regarding Adit EdTech and affiliates, please contact: For inquiries regarding GRIID, (Podcast), Will Smoking-Monkey JPEGsClog UpBitcoins Blockchain? Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement and all other relevant 1345 Avenue of the Americas Fl 33, New York, New York, 10105, United States. please contact. This allows the firm to capture more value by pushing investment entry before inflection points of growth and enhances the firms visibility and breadth of deal flow across the venture landscape. Mr. Cholak will also serve as a member of Adit's Investment, Research & Valuation Committees, as well as leading Adit Genesis, the early-stage research & technology investment platform within Adit. In this role, Mr. Block will work with the investment and client teams to continue to grow Adit's footprint in providing investment opportunities in market leading private companies to institutional and high net worth investors worldwide. Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. Mr. Lazear was Co-Head of the Capital Advisory Group's ESG working group where he worked with managers and investors on best practices with respect to ESG as well as implementing an ESG framework into the investment and operational process. -Is there a good management team, with depth and experience in meeting challenges, competitivethreats and executing its goals? Such statements are not guarantees of future performance and actual results or developments may At Adit Ventures, we offer curated and professionally managed access to equity in private firms that we believe are driving todays market and shaping tomorrows economy. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. Adit's investment objective is 3x return of capital within a 3-5-year time frame. Current sectors of interest include AI & Machine Learning, Big Data, Cybersecurity, Defense, Educational Technology, FinTech, Health Tech, IoT, Life Sciences, Media, Shared Economy and Space. Adit EdTechs strategy is to focus on companies which offer an opportunity for stockholder value creation through the combination of (i)an attractive valuation entry point, (ii)a. clear plan to unlock incremental value through operational and/or strategic improvements and (iii)a clear path to bring the target company to the public market and implement best-in-class public company governance. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. 86% of retail CFD accounts lose money, https://www.prnewswire.com/news-releases/adit-ventures-announces-chief-operating-officer-301339729.html, Registration on or use of this site constitutes acceptance of our. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. Adit invests via a global network of relationships cultivated over their 120 years of principal investing experience. Its business model focuses on purchasing shares from early-stage investors or employees seeking liquidity before the company has a liquidity event. Adit Ventures serves clients in the United States. -Profitability: A clear path to profitability is essential to any investment. Adit Ventures is a family-office owned Venture Capital Investment advisor with 9 professionals, identifying companies with strong business fundamentals, investing alongside long-term secular. Abortion Pill Lawsuit Won't Get a Fair . Not only does Adit believe these sectors provide the best opportunity for capital appreciation, but also that they enable the firm to make a positive impact on the world by advancing innovation and improving quality of life. Operations sections of Adit EdTechs Annual Report on Form 10-K for the year ended December31, 2020, and other filings made with the SEC and that are available on the SECs website at We're introducing a third way using this groundbreaking technology. This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. Wells Fargo Securities LLC, acted as the Adit invests across the entire lifecycle. employees/investors seeking liquidity. Managing Director - Co-Founder, Adit Genesis. Please visit www.aditventures.com for further information. GRIID anticipates fiscal year 2023 revenue of $1.6billion. Adit Ventures, LLC is a venture capital investment firm. -Profitability: A clear path to profitability is essential to any investment. SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov. This press -Will the business make a difference by adding value for its customers, it's employees and the community it serves, as well as its shareholders? Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or will be provided in a Current Report on Form 8-K to be filed by Adit EdTech today with the U.S. Securities and Exchange Commission (the SEC) and will be available at www.sec.gov. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. -Will the business make a difference by adding value for its customers, it's employees and the community it serves, as well as its shareholders? TEL-AVIV, Israel, June 10, 2021 /PRNewswire/ -- Noveto Systems, today announced the successful completion of a bridge of $10 Million from renowned technology investors Adit Ventures, a firm. Edelstein& Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future Upon completion of the proposed transaction. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. He brings in-depth experience at Intel, management consulting experience plus a top-decile performance record to Adit's team of 8 professionals." Genesis already has nine active portfolio companies and plans to grow the portfolio to 20-25 companies over the next three years. vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. Team Adit has relationships cultivated over their 150 years of principal investing experience. transaction, and identify and realize additional opportunities. It is in these sectors Adit sees the best opportunities for long term capital appreciation and to make a positive impact on the world by improving quality of life, while generating a healthy return on our invested capital in alignment with their investors & principles. With an Adit late-stage venture capital fund, youre investing in tomorrows market. To learn more, visit griid.com. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. the board of managers of GRIID Holdco. -Does it have a good capital base, board of directors/investors and well-regarded savvy Venture Sponsors? public bitcoin miners at the lowest cost of scaled production. BROOKLYN, N.Y.--(BUSINESS WIRE)--Adit Ventures, a global venture capital firm with over $400 million in AUM, has agreed to seed Aanika Re, a Bermuda-based insurance vehicle wholly owned by Aanika . Please visit www.aditventures.com for further information. the combined company is expected to operate under the name GRIID Before J.P. Morgan, he was the COO and CCO for IAM (International Asset Management) where he oversaw all activity as well as the operational risk due diligence process. Portfolio companies include Airbnb, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Klarna, Noom, Netskope, SpaceX and Turo among others. See how Adit Ventures can give you access to your own late-stage investments, with potentially less risk than many early-stage start-up investments. Founded in 2014, Adit Ventures is a venture capital investment firm with over 1250 LPs, $400MM in AUM, five offices across the US, and exits in Airbnb, DocSend, GoPro, Lemonade, Palantir, SharesPost, SoFi, Snap, and Lyft. Adit Ventures commits a further $10 million, and . An "Adit" is an entrance to a mine and serves as an anagram for the firm's services, since it provides Access, Diligence, Insight and works with Trusted partners across the United States and around the world. which Adit EdTech will acquire Griid Holdco LLC (GRIID Holdco), a newly formed holding company and parent of GRIID. Principal Place of Business and Contact Information 3. events or otherwise. which may be volatile due to a variety of factors, including changes in the competitive and regulated] industries in which Adit EdTech plans to operate or GRIID operates, variations in operating performance across competitors, changes in laws and power utilization and grid management demonstrates the broader economic potential of green infrastructure.. the announcement or pendency of the transaction on GRIIDs business relationships, operating results, and business generally and on Adit EdTechs stock price, (vii)risks that the Please visit www.aditventures.com for future updates. A leading venture capital investment firm based in New York City. What We Do Who We Are Sell Your Options Troutman Pepper Hamilton Based in New York, he leads the operational, compliance and risk functions at Adit. Why? Mr. Block will be based out of Adit's headquarters in New York. Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. -Does the business adhere to fundamental ESG principles with character and integrity in its practice? facilities across the United States. It is in these sectors Adit sees the best opportunities for long term capital appreciation and to make a positive impact on the world by improving quality of life, while generating a healthy return on our invested capital in alignment with their investors & principles. Adit has invested in some of the world's leading companies with exits in GoPro, Spotify, Snap and Lyft. GRIIDs combination of a large Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. Eric Munson, Founder, and CEO, Adit Ventures, also joins the Noveto Board of Directors. He received a B.B.A in Finance and Marketing from Hofstra University and M.B.A in Finance from Baruch College's Zicklin School of Business. CINCINNATI, OH AND NEW YORK, NY The current bridge investment is made as part of the company's Series A fundraising to be further led by Adit Ventures to raise an additional $20 Million by year-end. He will also chair the firm's Advisory Board which comprises a diverse group of experts providing thought leadership and counsel to Adit and its investors across a variety of areas and themes. company enterprise value of approximately $3.3billion. The investment follows Noveto's successfulKickstarter pre-sales campaign in February 2021, with backers from across the world pledging over $225k within only two weeks. Create a portfolio thats built for the future, with investments focused on cultural and technological trends that have the potential to define the next financial generation. Portfolio companies include Airbnb, Cohesity, Decision Sciences, ESME Learning, Flexport, Klarna, Netskope, Palantir, SpaceX and Turo among others. adviser whose principals have combined investment experience of over 150 years and a track record of value creation in portfolio companies operating in the public markets. We are really excited about Aanika and this opportunity, said Jon Cholak Partner and Co-Chief Investment Officer of Adit Ventures and Aanika board member. Portfolio companies include Airbnb, Cohesity, Decision Sciences International Corporation, Flexport, Klarna, Palantir, SpaceX and Turo among others. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. Quantitative: -Valuation at entry is a critical discipline,. ADIT Growth Equity Co - Invest LLC Series Esme. Find your B2B customer within minutes using affordable, accurate contact data from Datanyze. Adit has invested in some of the world's leading companies with exits in Airbnb, DocSend, GoPro, Lemonade, Palantir, SharesPost, SoFi, Spotify, Snap and Lyft. ADIT Growth Equity Co - Invest LLC Series Magic - Adit Growth Equity Co - Invest, LLC - Series Airbn Adit Ventures raised a total of $150 K in funding over 1 rounds. These forward looking statements speak only as of the date of Aanika Biosciences is a Brooklyn based synthetic biology startup that uses microbes to improve food safety. Monitor your investments 24 hours a day, around the clock from around the globe. stockholders. Qualitative: -Is it a good business model, in a good sector with long term secular tends driving it? Securities Act. Eric Munson co-founded ADIT Ventures in 2014 at the request of family offices seeking to obtain shares in select late-stage venture-backed growth companies. He added traceability is at the heart of three main catalysts: 1) climate changes, which could lead to a significant rise in food safety issues 2) FDA rules on traceability which are coming into effect within 24 months and 3) ESG compliance for public companies.. Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. -Revenue growth rate drives future valuation, so is a key element to Adit.-Margins and cash flows are vital to an enterprise's success, and drive valuation.-Scalability of business across various markets is a big factor in the valuation of any business. stockholders. Vertically integrated bitcoin self-mining company that owns and operates a growing portfolio energy. The NYSE under the New ticker symbol GRDI capital ), a newly holding..., Florida and New York triple the headcount over the next three years incorporating its proprietary research on both and... 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