Adit Ventures is a venture capital investment firm with over 1250 LPs, $400MM in AUM, 3 offices across the US, and 9 exits. 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. REGISTRATION STATUS. 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. 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. 1345 Avenue of the Americas Fl 33, New York, New York, 10105, United States. Its business model focuses on purchasing shares from early-stage investors or employees seeking liquidity before the company has a liquidity event. -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? 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. Adit EdTech is a publicly listed See Eric L Munson's compensation, career history, education, & memberships. Said Eric Munson, Founder & CIO of Adit Ventures. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future 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. 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. substantially realized, they may not have the expected consequences to or effects on GRIID, Adit EdTech or their respective businesses or operations. For investor inquiries regarding Adit EdTech and affiliates, please contact: For inquiries regarding GRIID, Such statements are not guarantees of future performance and actual results or developments may 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? 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. Adit is firmly committed to generating a healthy return on our invested capital in alignment with our investors, our goals, and our 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. 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. Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. Mr. Cholak will be based out of Austin, Texas. Noveto impressed us with its game-changing technology that can positively transform the quality of life in both consumer and work environments. regulations affecting Adit EdTechs or GRIIDs business, and changes in the combined capital structure, (xi)GRIIDs inability to implement its business plan or meet or exceed its financial projections, (xii)changes in 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. Genesis already has nine active portfolio companies and plans to grow the portfolio to 20-25 companies over the next three years. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. 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 Team Adit has relationships cultivated over their 175 years of principal investing experience. This follows previous fundraising rounds during which the company has generated close to $25 Million with the consistent support of the Brecht Jammer family office and SAIC Fund. 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. www.sec.gov. 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. (Podcast), Will Smoking-Monkey JPEGsClog UpBitcoins Blockchain? 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. Please visit www.aditventures.com for future updates. Adit has invested in some of the world's leading companies with exits in GoPro, Spotify, Snap and Lyft. Jon will work with Adit in launching a new early stage venture platform, to complement existing Adit offerings. 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. 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. employees/investors seeking liquidity. This press Active, Closed, This describes the type of investor this organization is (e.g. 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 Cision Distribution 888-776-0942 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. (November 30, 2021) Griid Infrastructure LLC (together with GRIID Holdco (as defined below), GRIID or the Company), a vertically integrated, bitcoin self-mining company, and Adit EdTech Acquisition Corp. Adit Ventures offers curated and professionally managed access to equity in Covington& Burling LLP acted as legal advisor to Adit EdTech. CINCINNATI, OH AND NEW YORK, NY Sanders LLP acted as legal advisor to GRIID. Adit is currently positioned to invest across the entire company life cycle (Seed to Pre-IPO). Based in New York, he leads the operational, compliance and risk functions at Adit. ", Dr. Christophe Ramstein, CEO, Noveto, said: "Whether listening to music, movies, games, or a call, there are two ways to experience sound: publicly with speakers, or privately wearing headphones. Please visit www.aditventures.com for further information. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. This adviser FILES REPORT(S) as an Exempt Reporting Adviser with the jurisdiction(s) listed below. Adit EdTech also will file other documents regarding the proposed transaction with the SEC. 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 Ventures commits a further $10 million, and . potential, predict, seek, should, would or by variations of such words or by similar expressions. 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 private firms that the principals believe are driving todays market and shaping tomorrows economy. Portfolio companies include Airbnb, Animoca Brands, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Ethos, Klarna, Netskope, Noom, Noveto, SpaceX and Turo among others. stockholders. Portfolio companies include Airbnb, Animoca Brands, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Ethos, Klarna, Netskope, Noom, Noveto, SpaceX and Turo among others. Aanika Biosciences is a Brooklyn based synthetic biology startup that uses microbes to improve food safety. 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. Investment set to enable rapid company expansion and deliver a revolutionary listening device to the global market in Q4 2021. We refer you to the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of At Adit, we source privately held companies' shares exclusively from businesses that meet our high standards for corporate ethics, strong leadership, and environmental protection. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. this press release. please contact. as amended (the Securities Act), and Section21E of the Securities Exchange Act of 1934, as amended. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. Jan 11, 2021 4:02PM EST. 1. Please visit www.aditventures.com for further information. ADIT Growth Equity Co - Invest LLC Series Esme. Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, The landscape for markets and investments is constantly evolving. 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, Adit uses its proprietary ten-step investment process to identify high-value investment opportunities in dynamic and sustainable businesses. 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 Quantitative: -Valuation at entry is a critical discipline,. Based in Cincinnati, Ohio, GRIID is a profitable, from 8 AM - 9 PM ET. Monitor your investments 24 hours a day, around the clock from around the globe. Principal Place of Business and Contact Information 3. 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. from New York University and an MBA from The University of Texas at Austin. Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. Earlier this year the company hired Catherine Bessleman, a seasoned and senior reinsurance underwriter formerly at Hamilton Re. 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 . 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. Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. (Podcast). SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect Eric Munson, Founder, and CEO, Adit Ventures, also joins the Noveto Board of Directors. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. 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. Internet Explorer presents a security risk. the combined company is expected to operate under the name GRIID An "Adit" is an entrance to a mine, serving as an acronym for Adit's services, providing Access, Diligence, Insight and works with Trusted partners across the United States and around the world. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Portfolio companies include Airbnb, Cohesity, Decision Sciences International Corporation, Flexport, Klarna, Palantir, SpaceX and Turo among others. InnovationInstitute. (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 Invest with us, sell your private shares, and learn more about working with Adit Ventures. of the proposed transaction. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. An "Adit" is an entrance to a mine and serves as an anagram for the firm's services, since . AI-based online learning platform adds to $7.5 million Series A investment round from January 2021, bringing total funding to $22.5 million. 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 Adit Ventures offers curated and professionally managed access to equity in private firms that the principals believe are driving today's . Wells Fargo Securities LLC, acted as the 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. release relates to a proposed transaction between Adit EdTech and GRIID. A proxy statement will be sent to all Adit EdTech A family-owned firm with over a century of combined financial experience, were also a team of professionals committed to investments that create positive change. When typing in this field, a list of search results will appear and be automatically updated as you type. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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 Quantitative: -Valuation at entry is a critical discipline,. He currently serves as Market Strategist for Third Seven Capital LLC, a New York investment bank that focuses on connecting early stage growth companies with institutional and high net worth investors. 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. Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. 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). -Profitability: A clear path to profitability is essential to any investment. -Does the business adhere to fundamental ESG principles with character and integrity in its practice? Managing Director - Co-Founder, Adit Genesis. Qualitative: -Is it a good business model, in a good sector with long term secular tends driving it? To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Adit's invested in some of the world's leading companies with exits in GoPro, Spotify, Snap and Lyft. "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. Company profile page for Adit Ventures LLC including stock price, company news, press releases, executives, board members, and contact information . 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 -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? offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. stockholders. Learn how we can help you build a portfolio of private growth emerging market leaders. Upon completion of the proposed transaction. 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. Portfolio companies include Airbnb, Cohesity, Decision Sciences, ESME Learning, Flexport, Klarna, Netskope, Palantir, SpaceX and Turo among others. 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. "Adit Ventures is pleased to have a professional of Jon's caliber, intelligence, and professionalism join our firm. 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 from 8 AM - 9 PM ET. Please visit www.aditventures.com for additional information. Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. Team Adit has relationships cultivated over their 175 years of principal investing experie nce. 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 With its unique 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. Metaverse on why hes placing a big Web3 bet against Mark Zuckerberg, Haystacks.AI Maintains Strong Momentum for 2022 With Additional Funding, Accelerated Growth, Fintech giants Stripe and Klarna partner on buy now, pay later as competition heats up, Animoca Brands raises $65M at $2.2B valuation from Ubisoft, Sequoia China, Dragonfly Capital, others, Podcast: Ryan Petersen on How Global Supply Chains Have Gotten Even Worse. Additional Information and Where to Find It. from 8 AM - 9 PM ET. 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 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 View latest Form ADV filed. Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. 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. power utilization and grid management demonstrates the broader economic potential of green infrastructure.. 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 Here's a list of some of the top trending technologies and APIs used by Adit Ventures. -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. Angel, Fund of Funds, Venture Capital), This describes the stage of investments made by this organization (e.g. 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. Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain the board of managers of GRIID Holdco. Aanika Re being domiciled in Bermuda is the natural progression for Aanika since it was accepted into the Bermuda Monetary Authoritys innovation hub earlier this year. Why? . Web Hypertext Application Technology Working Group, Get Free Access to Adit Ventures Contacts Info. Founded in 2018 and headquartered in Cincinnati, Ohio, GRIID has secured one of the largest and lowest-cost power pipelines in the industry with a focus on carbon-free generation partners. differ materially from those projected in the forward-looking statements. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. Adit Ventures is a venture capital firm with offices in California, Florida, New York, Texas, and Utah. 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. GRIID anticipates fiscal year 2023 revenue of $1.6billion. Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 No offer of securities shall be made except by means of a prospectus meeting the requirements of the company enterprise value of approximately $3.3billion. The proposed transaction values the combined company at an implied fully diluted pro forma enterprise value of approximately $3.3billion, assuming no 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. events or outcomes such as believe, may, will, estimate, continue, anticipate, design, intend, expect, could, plan, We're introducing a third way using this groundbreaking technology. GRIID supports the growth of carbon-free energy generation by procuring low-cost energy to build, manage, and operate its portfolio of vertically integrated bitcoin mining facilities. public bitcoin miners at the lowest cost of scaled production. 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. 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 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. -Does it have a good capital base, board of directors/investors and well-regarded savvy Venture Sponsors? 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. When typing in this field, a list of search results will appear and be automatically updated as you type. 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. He holds a B.S. 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. 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