Web Hypertext Application Technology Working Group, Get Free Access to Adit Ventures Contacts Info. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Adit uses its proprietary ten-step investment process to identify high-value investment opportunities in dynamic and sustainable businesses. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and Please visit www.aditventures.com for further information. Trey Kelly, CEO of GRIID, said, We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among Cision Distribution 888-776-0942 this press release. Quantitative: -Valuation at entry is a critical discipline, as . We're introducing a third way using this groundbreaking technology. 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). Please visit www.aditventures.com for future updates. . 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. Adit Ventures is a venture capital firm with offices in California, Florida, New York, Texas, and Utah. the board of managers of GRIID Holdco. Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Adit's investment objective is 3x return of capital within a 3-5-year time frame. Adit has invested in some of the world's leading companies with exits in GoPro, Spotify, Snap and Lyft. Here's a list of some of the top trending technologies and APIs used by Adit Ventures. public bitcoin miners at the lowest cost of scaled production. No offer of securities shall be made except by means of a prospectus meeting the requirements of the With its unique 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. Mr. Cholak has deployed over $90M in early stage capital across 15+ companies, with multiple successful exits. The desktop device comes alive with the backing of engineering partner Foxconn, the biggest consumer electronics manufacturer globally. A family-owned firm with over a century of combined financial experience, Adit Ventures is a team of professionals committed to 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 VENTURES MANAGEMENT, LLC ( CRD # 283262/SEC#:802-107701 ) ADIT VENTURES MANAGEMENT, LLC, PSP VENTURES MANAGEMENT LLC. 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 Abortion Pill Lawsuit Won't Get a Fair . A family-owned firm with over a century of combined financial experience, we're also a team of professionals committed to investments that create positive change. events or otherwise. 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. proposed transaction disrupts current plans and operations of GRIID and potential difficulties in GRIID employee retention as a result of the transaction, (viii)the outcome of any legal proceedings that may be instituted against GRIID or Please visit www.aditventures.com for further information. 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. 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. Mr. Block will be based out of Adit's headquarters in New York. Eric L Munson is CIO/Co-Founder at Adit Ventures LLC. Companies are taking longer to exit, but investors are still building their portfolios of potentially market-leading companies before they go public. 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. Portfolio companies include Airbnb, Cohesity, Decision Sciences, ESME Learning, Flexport, Klarna, Netskope, Palantir, SpaceX and Turo among others. 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. -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. Our team has demonstrated a track record of successful execution over the past three years since starting the company, and we look forward to delivering expansion of capacity through "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. 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 A proxy statement will be sent to all Adit EdTech power utilization and grid management demonstrates the broader economic potential of green infrastructure.. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. Adit invests across the entire lifecycle. The company was founded in 2018 by Vishal Bhuyan and Dr. Ellen Jorgensen and has raised nearly $20 million in venture financing to date from notable investors such as Adit Ventures, Draper Associates and Plug and Play Ventures. University of Oxford - Said Business School . events or outcomes such as believe, may, will, estimate, continue, anticipate, design, intend, expect, could, plan, Company profile page for Adit Ventures LLC including stock price, company news, press releases, executives, board members, and contact information . San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. Investment set to enable rapid company expansion and deliver a revolutionary listening device to the global market in Q4 2021. At Adit, we source privately held companies' shares exclusively from businesses that meet our high standards for corporate ethics, strong leadership, and environmental protection. Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public Adits ability to source and offer these exclusive opportunities to the firms investor-partners stems from the global network of relationships the team has developed over their 150+ years of combined investment experience. 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 The $246million of anticipated net transaction proceeds, assuming no redemptions, and an existing Edelstein& Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. 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 Said Eric Munson, Founder & CIO of Adit Ventures. stockholders. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. Adit Ventures is a late-stage venture capital firm with headquarters in NYC. Adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively. (Podcast). 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 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 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, "Jon's institutional top-decile performance record, combined with Adit Ventures existing top-quartile results, gives investors a choice of alternative investment options across the entire landscape" Munson added. -Profitability: A clear path to profitability is essential to any investment. A leading venture capital investment firm based in New York City. Aanika Biosciences is a Brooklyn based synthetic biology startup that uses microbes to improve food safety. Please visit www.aditventures.com for further information. Adit EdTech is a publicly listed Qualitative: -Is it a good business model, in a good sector with long term secular tends driving it? He brings in-depth experience at Intel, management consulting experience plus a top-decile performance record to Adit's team of 8 professionals." GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect 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. 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! InnovationInstitute. 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 holds a B.S. With the support of Adit, will deliver an entirely new type of sensory listening that will change the way people experience audio.". 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. Arthur D. Little LLC acted as advisor to Adit EdTech for technical We refer you to the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. www.sec.gov. 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. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. 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. Find your B2B customer within minutes using affordable, accurate contact data from Datanyze. -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? from 8 AM - 9 PM ET. 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 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.. Adit EdTech intends to file a proxy statement with the SEC. -Does it have a good capital base, board of directors/investors and well-regarded savvy Venture Sponsors? During his career, Mr. Cholak has held various technology and investment positions at Bank of America, Deloitte Consulting, Intel, and USAA. Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. 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. Additional Information and Where to Find It. Sanders LLP acted as legal advisor to GRIID. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. from New York University and an MBA from The University of Texas at Austin. CINCINNATI, OH AND NEW YORK, NY Noveto impressed us with its game-changing technology that can positively transform the quality of life in both consumer and work environments. Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 Qualitative: -Is it a good business model, in a good sector with long term secular tends driving it? 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We have carefully selected an exclusive list of market-leading businesses that are fueling high-performing portfolios and revolutionizing industries. with three US-based facilities and planned mining capacity of 734 megawatts (MW) operational by 2023 with a power cost of less than $25/MWh. 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. the combined company is expected to operate under the name GRIID A dit EdTech Acquisition, a blank check company formed by Adit Ventures targeting the education sector, raised $240 million by offering 24 million units at $10. 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. An "Adit" is an entrance to a mine and serves as an anagram for the firm's services, since . SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov. Active, Closed, This describes the type of investor this organization is (e.g. of the proposed transaction. vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. Adit EdTech also will file other documents regarding the proposed transaction with the SEC. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. Wells Fargo Securities LLC, acted as 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. determining whether or not to pursue the proposed transaction, (v)the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement, (vi)the effect of. Jon will work with Adit in launching a new early stage venture platform, to complement existing Adit offerings. Its business model focuses on purchasing shares from early-stage investors or employees seeking liquidity before the company has a liquidity event. Adit Ventures is a late-stage venture capital firm with headquarters in NYC. Overnight on Wall Street is morning in Europe. 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. These forward looking statements speak only as of the date of GRIID anticipates fiscal year 2023 revenue of $1.6billion. 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. 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 Quantitative: -Valuation at entry is a critical discipline,. 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. nce. 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 Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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. 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 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 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. 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. See Eric L Munson's compensation, career history, education, & memberships. facilities across the United States. otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. Angel, Fund of Funds, Venture Capital), This describes the stage of investments made by this organization (e.g. stockholders. 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. Adit EdTechs CFO, When typing in this field, a list of search results will appear and be automatically updated as you type. 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. 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). 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. Team Adit has relationships cultivated over their 175 years of principal investing experience. -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. Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 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 economy, 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. Troutman Pepper Hamilton The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined Mr. Block will be publishing various thought leadership pieces about the markets and investable themes for Adit and its investors in the coming months. Contact:Julie Klugmaninfo@adit.vcwww.aditventures.com, View original content to download multimedia:https://www.prnewswire.com/news-releases/adit-ventures-announces-chief-operating-officer-301339729.html, Plus500. Commenting on the news, Munson said: "We invest in disruptive companies with the potential to cross verticals and scale at pace. -Does it have a good capital base, board of directors/investors and well-regarded savvy Venture Sponsors?-Does the business adhere to fundamental ESG principles with character and integrity in its practice? Get updates from our experts, browse stock updates, and explore emerging trends that are shaping the market. -Is there a good management team, with depth and experience in meeting challenges, competitive threats and executing its goals? Adit Ventures offers curated and professionally managed access to equity in from 8 AM - 9 PM ET. Adit Ventures enjoys a history of top-decile performance in early-stage ventures Adit Ventures leverages a broad network of LPs, advisors, and syndicate partners Learn how the Adit Genesis team selects investments, understand the target investment sectors and learn more about the team's performance history. 1345 Avenue of the Americas Fl 33, New York, New York, 10105, United States. The . 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