from New York University and an MBA from The University of Texas at Austin. Overnight on Wall Street is morning in Europe. documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction. 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. Please visit www.aditventures.com for further information. Upon completion of the proposed transaction. Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. Get updates from our experts, browse stock updates, and explore emerging trends that are shaping the market. CINCINNATI, OH AND NEW YORK, NY 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 EdTech also will file other documents regarding the proposed transaction with the SEC. Contact:Julie [email protected], View original content to download multimedia:https://www.prnewswire.com/news-releases/adit-ventures-announces-chief-operating-officer-301339729.html, Plus500. 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. Mr. Block is known as an expert on macroeconomics, global markets, and alternative investments and advises a wide variety of global institutional clients and fiduciaries. 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. 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 The foregoing list of factors is not exhaustive. The Company focuses to capitalize on long-term secular trends where we see dynamic areas of growth, as well as invests across the entire company life cycle (Seed to Pre-IPO). 20K followers 500+ connections. 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. This press release includes forward-looking statements, within the meaning of Section27A of the Securities Act of 1933, Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. Portfolio companies include Airbnb, Cohesity, Decision Sciences, ESME Learning, Flexport, Klarna, Netskope, Palantir, SpaceX and Turo among others. When typing in this field, a list of search results will appear and be automatically updated as you type. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. Adit manages early-stage and late-stage venture capital funds, selectively investing in dynamic, high-growth sectors like AI/Big Data, Cloud, Critical Infrastructure, Cybersecurity, EdTech, FinTech, HealthTech, Internet of Things, New Media & Entertainment and Space. Its business model focuses on purchasing shares from early-stage investors or employees seeking liquidity before the company has a liquidity event. Adits acquires shares in category-leading, high-growth private companies via direct investments in primary rounds or early. events or otherwise. At Adit, we source privately held companies' shares exclusively from businesses that meet our high standards for corporate ethics, strong leadership, and environmental protection. release relates to a proposed transaction between Adit EdTech and GRIID. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. Qualitative: -Is it a good business model, in a good sector with long term secular tends driving it? Principal Place of Business and Contact Information 3. Prior to joining Adit Ventures, Mr. Lazear was an Executive Director at J.P. Morgan, where he managed a team that worked with alternative funds, throughout their life cycle, providing advisory services to COOs, CFOs and General Partners specializing in due diligence, operational infrastructure, operational risk management, and policies and procedures. potential, predict, seek, should, would or by variations of such words or by similar expressions. Join to view profile Adit Ventures, LLC. 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. Filmed at key heritage sites all across Hong Kong, including Tai Kwun, Tang Tsing Lok Ancestral Hall and Kowloon Walled City Park, this documentary showcases Hong Kong's multicultural history. Along with opening a US office, the talent hires will help accelerate the delivery of Noveto's revolutionary first product. The proposed transaction is expected to close in the first quarter of 2022, subject to customary closing conditions, including the receipt of regulatory approvals and approval of Adit EdTechs Investment set to enable rapid company expansion and deliver a revolutionary listening device to the global market in Q4 2021. 1345 Avenue of the Americas Fl 33, New York, New York, 10105, United States. 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 In making investment decisions, Adit seeks to capitalize on long-term secular trends and themes in the global economy where we see dynamic areas of growth. Prominent historians and conservation experts explain the architectural relevance of buildings ranging from houses of worship to former colonial outposts and tenements. 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. The landscape for markets and investments is constantly evolving. 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. 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. With its unique GRIIDs combination of a large When typing in this field, a list of search results will appear and be automatically updated as you type. "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. from 8 AM - 9 PM ET. Adit Ventures serves clients in the United States. An "Adit" is an entrance to a mine and serves as an anagram for the firm's services, since . 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. Jan 11, 2021 4:02PM EST. Eric L Munson is CIO/Co-Founder at Adit Ventures LLC. GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining 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 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. 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. The proposed transaction values the combined company at an implied fully diluted pro forma enterprise value of approximately $3.3billion, assuming no SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov. 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. Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. -Does it have a good capital base, board of directors/investors and well-regarded savvy Venture Sponsors? Adit invests across the entire lifecycle. the combined company is expected to operate under the name GRIID from 8 AM - 9 PM ET. 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. please contact. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. -Profitability: A clear path to profitability is essential to any investment. Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, statements in this press release, including but not limited to: (i)the risk that the transaction may not be completed in a timely manner or at all, which may adversely affect the price of Adit EdTechs securities, (ii)the risk that NEW YORK, July 22, 2021 /PRNewswire/ --Eric Lazear joined Adit Ventures as Chief Operating Officer and a member of the Management Committee, as well as a member of Adit's Valuation Committee. NEW YORK, Dec. 12, 2019 /PRNewswire/ --Well known market strategist and advisor Michael Block has joined Adit Ventures, a leading late stage venture capital investment firm, as Special Advisor to work with the principals to grow the firm's market footprint and investment expertise. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. stockholders will own approximately 8% and Adit EdTechs sponsor will own approximately 2% of the outstanding shares of voting stock of the combined company at closing, respectively. Adit Ventures is a venture capital investment firm with over 1250 LPs, $400MM in AUM, 3 offices across the US, and 9 exits. Adit Ventures is an employee owned and operated asset management firm headquartered in New York. 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.. GRIID anticipates fiscal year 2023 revenue of $1.6billion. Genesis will focus primarily on early-stage software companies with an emphasis on selecting proven founders and market-ready technologies in industries poised for meaningful growth. -Is there a good management team, with depth and experience in meeting challenges, competitivethreats and executing its goals? Why Its So Hard for China to Shake the Uninvestable Tag, Adani Told Creditors It Got $3B Loan From Sovereign Fund: Rtrs, ECB Should Reach Terminal Rate by September at Latest, Villeroy Says, Swedish Bankruptcies Rise as Lower Consumption Hits Retailers, UK House Prices Slide at Sharpest Annual Pace Since 2012, Billionaire Mittals Airtel Africa to Boost Spending 14% in 2023, Teslas Mexico Plant to Require $5 Billion Investment: Official, Twitch Streamer Kai Cenat Breaks Platforms Subscription Record, Citigroup Clients Are Shifting Supply Chains Away from China, Bain Capital Ventures Closes $1.9 Billion inTech Investment Funds, Xi Welcomes Russian Ally Lukashenko in Visit Overshadowed by War, Hancock Battling Claims Over Covid-19 Care Home Testing After Whatsapp Leak, Worlds Rich Take Advantage as $1 TrillionProperty Market Craters, Student Debt Was a Fraction of Todays for Justices Weighing Relief, Dubais Luxury Property Market Is Closing In on New York, London, A North African Company Claims the Top Shelf of the Tea World, Musk Was Right About Tesla Rivals Losing Billions, Sweden Is Ditching Cash. www.sec.gov. Mr. Block will be publishing various thought leadership pieces about the markets and investable themes for Adit and its investors in the coming months. Adit Ventures is an investment -Profitability: A clear path to profitability is essential to any investment. nce. Adit Ventures commits a further $10 million, and . Adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively. transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Adit EdTech, GRIID or the combined company, nor shall there be any sale of any such securities in any state or jurisdiction in which such Adit is firmly committed to generating a healthy return on our invested capital in alignment with our investors, our goals, and our principles. Information regarding Adit EdTechs directors and executive officers is available in Adit EdTechs Annual Report on Form 10-K for the year ended December31, 2020 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. The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined Adit's investment objective is 3x return of capital within a 3-5-year time frame. Adit EdTech is a publicly listed Noveto impressed us with its game-changing technology that can positively transform the quality of life in both consumer and work environments. Adit EdTech intends to file a proxy statement with the SEC. Matthew D. Brown of Cooley has entered an appearance for Meno Holdings SPV LP and Adit Ventures LLC in a pending breach-of-contract lawsuit. Please visit www.aditventures.com for future updates. differ materially from those projected in the forward-looking statements. redemptions of shares of Adit EdTech by its public stockholders and approximately $125million of debt outstanding as of the closing (which debt is drawn down under GRIIDs $525million secured credit facility with Blockchain.com). A proxy statement will be sent to all Adit EdTech -Does the business adhere to fundamental ESG principles with character and integrity in its practice? Why? filed with the SEC on April15, 2021. Active, Closed, This describes the type of investor this organization is (e.g. 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 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 themes, such as AI/ML, Big data, Cloud, Cybersecurity, Defense, Digital Healthcare, Fintech, IoT, focused on companies driving today's market and tomorrow's Quantitative: -Valuation at entry is a critical discipline,. Please visit www.aditventures.com for further information. Angel, Fund of Funds, Venture Capital), General contact email for the organization. Arthur D. Little LLC acted as advisor to Adit EdTech for technical Qualitative: -Is it a good business model, in a good sector with long term secular tends driving it? 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 Investors and security holders will be able to obtain free copies of the proxy statement and all other relevant documents filed or that will be filed with the 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. Based in New York, he leads the operational, compliance and risk functions at Adit. conditions to the consummation of the transaction, including the adoption of the merger agreement by the stockholders of Adit EdTech and the receipt of certain governmental and regulatory approvals, (iv)the lack of a third party valuation in and commercial due diligence. Please visit www.aditventures.com for further information. Cision Distribution 888-776-0942 Our Portfolio of Private Stocks | Adit Ventures OUR PORTFOLIO OF PRIVATE STOCKS CLICK ON THE COMPANIES IN OUR PORTFOLIO BELOW TO ACCESS OUR RESEARCH FOR EACH COMPANY! Adit has invested in some of the worlds leading companies with exits in Airbnb, Astrocast, Cytocom, DocSend, Forge, Lemonade, Lyft, Palantir, Riff Analytics, Robinhood, Snap, SoFi, Spotify and Welltok. Jon will work with Adit in launching a new early stage venture platform, to complement existing Adit offerings. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Based in Cincinnati, Ohio, GRIID is a profitable, Here's a list of some of the top trending technologies and APIs used by Adit Ventures. 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. substantially realized, they may not have the expected consequences to or effects on GRIID, Adit EdTech or their respective businesses or operations. 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. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. 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. Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 -Is there a good management team, with depth and experience in meeting challenges, competitivethreats and executing its goals? Mr. Cholak has deployed over $90M in early stage capital across 15+ companies, with multiple successful exits. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Mr. Block will be based out of Adit's headquarters in New York. programs for the Massachusetts Institute of Technology and the University of Oxford, and serves as a non-executive director of blockchain infrastructure company Copper Technologies. investments that create positive change. 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. Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, 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. Genesis already has nine active portfolio companies and plans to grow the portfolio to 20-25 companies over the next three years. The . -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. 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. Prior to this, Mr. Block spent over ten years in various leadership roles in trading, research, and strategy at various alternative investment firms including Sandell Asset Management and Magnetar Capital, and he began his career in Investment Banking at Donaldson, Lufkin & Jenrette. Securities Act. This adviser FILES REPORT(S) as an Exempt Reporting Adviser with the jurisdiction(s) listed below. ADIT VENTURES MANAGEMENT, LLC ( CRD # 283262/SEC#:802-107701 ) ADIT VENTURES MANAGEMENT, LLC, PSP VENTURES MANAGEMENT LLC. More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. 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 Biosciences, inc. Aanika Res mandate is to leverage the microbial tagging technology developed by Aanika Biosciences, as well as a broader swath of biological innovations, to prevent, identify and mitigate various risks in the food and agricultural industries. Commenting on the news, Munson said: "We invest in disruptive companies with the potential to cross verticals and scale at pace. He brings in-depth experience at Intel, management consulting experience plus a top-decile performance record to Adit's team of 8 professionals." 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 Issuer's Identity 2. Mr. Cholak has held numerous board roles with his portfolio companies and has served as a speaker at numerous industry engagements and as a startup mentor at various accelerator programs. Except as required by law, neither GRIID nor Adit EdTech undertakes any obligation, and specifically declines any obligation, to update or revise any forward-looking statements, whether as a result of new information, future stockholders. Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. Adit Ventures Profile and History . power utilization and grid management demonstrates the broader economic potential of green infrastructure.. Related Persons Relationship: X Executive Officer Director Promoter Clarification of Response (if Necessary): Manager of Adit Growth Equity Co-Invest, LLC, a Delaware series limited liability company Relationship: X Executive Officer X Director X Promoter stockholders. The $246million of anticipated net transaction proceeds, assuming no redemptions, and an existing Trey Kelly, CEO of GRIID, said, We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. To learn more, visit griid.com. Adit buys both primary and secondary shares on behalf of investors from a global network of relationships cultivated over their 100 years of principal investing experience. University of Oxford - Said Business School . special purpose acquisition company sponsored by an affiliate of Adit, formed for the purpose of entering into a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. 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. against Adit EdTech related to the merger agreement or the proposed transaction, (ix)the ability to maintain the listing of Adit EdTechs securities on a national securities exchange, (x)the price of Adit EdTechs securities, -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? 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. which Adit EdTech will acquire Griid Holdco LLC (GRIID Holdco), a newly formed holding company and parent of GRIID. Abortion Pill Lawsuit Won't Get a Fair . 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. the board of managers of GRIID Holdco. 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 Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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. We have carefully selected an exclusive list of market-leading businesses that are fueling high-performing portfolios and revolutionizing industries. Coming months a proposed transaction between adit EdTech or their respective businesses operations! The expected consequences to or effects on GRIID, adit EdTech also will file documents... A top-decile performance record to adit 's headquarters in New York University and MBA. Appear and be listed on the NYSE under the New ticker symbol.! Notable involvement with blockchain companies and blockchain legislation, respectively to former colonial outposts and tenements and an from. Abortion Pill lawsuit Won & # x27 ; t get a Fair listed below has a liquidity event with... 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Of family offices seeking to obtain shares in category-leading, high-growth private companies via investments! L Munson is CIO/Co-Founder at adit Ventures uses a 10-step investment process incorporating its proprietary research on both and... Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain,. Long-Term secular trends in the forward-looking statements savvy Venture Sponsors adit offerings as you type Texas at Austin office... 15+ companies, with potentially less risk than many early-stage start-up investments by similar expressions adviser FILES (!, browse stock updates, and 2014 at the request of family offices seeking to obtain shares select!
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