See how our funds let you invest in dynamic, sustainable private businesses that strive to lead the way to a better and more productive world. 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. 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. www.sec.gov. When typing in this field, a list of search results will appear and be automatically updated as you type. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. 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 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. -Does it have a good capital base, board of directors/investors and well-regarded savvy Venture Sponsors? Find your B2B customer within minutes using affordable, accurate contact data from Datanyze. The proposed transaction values the combined company at an implied fully diluted pro forma enterprise value of approximately $3.3billion, assuming no 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. See Eric L Munson's compensation, career history, education, & memberships. GRIID management reports that it has over 1,300 MW of power (under agreement, MOU or LOI), of which 734 Prominent historians and conservation experts explain the architectural relevance of buildings ranging from houses of worship to former colonial outposts and tenements. With the support of Adit, will deliver an entirely new type of sensory listening that will change the way people experience audio.". Mr. Lazear has also held various operational risk due diligence and consulting positions with FQS (Family Office) and Duff & Phelps where he established the operational risk due diligence practice. 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. 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. facilities across the United States. 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 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. Overnight on Wall Street is morning in Europe. Portfolio companies include Airbnb, Animoca Brands, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Ethos, Klarna, Netskope, Noom, Noveto, SpaceX and Turo among others. potential, predict, seek, should, would or by variations of such words or by similar expressions. Angel, Fund of Funds, Venture Capital), General contact email for the organization. Adit Ventures is an investment 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. To learn more, visit griid.com. Eric L Munson is CIO/Co-Founder at Adit Ventures LLC. 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. 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). During his career, Mr. Cholak has held various technology and investment positions at Bank of America, Deloitte Consulting, Intel, and USAA. Noveto impressed us with its game-changing technology that can positively transform the quality of life in both consumer and work environments. vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the 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 potential transaction and stockholders. financial advisor to Adit EdTech for capital markets and M&A advisory services. Mr. Cholak will be based out of Austin, Texas. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. Troutman Pepper Hamilton Arthur D. Little LLC acted as advisor to Adit EdTech for technical 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. from 8 AM - 9 PM ET. 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 -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? 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. Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 CEO Trey Kelly, will continue to lead the business. An "Adit" is an entrance to a mine and serves as an anagram for the firm's services, since . 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. Managing Director - Co-Founder, Adit Genesis. (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. Quantitative: -Valuation at entry is a critical discipline, as . Please visit www.aditventures.com for further information. 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. 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. This press Along with opening a US office, the talent hires will help accelerate the delivery of Noveto's revolutionary first product. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. Please visit www.aditventures.com for further information. -Does the business adhere to fundamental ESG principles with character and integrity in its practice? Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. events or otherwise. The device prototype, capable of beaming pockets of sound outside the listener's ears without the need for speakers or headphones and with minimal disturbance to people nearby, firstdebuted in November 2020, receiving global media acclaim. This adviser FILES REPORT(S) as an Exempt Reporting Adviser with the jurisdiction(s) listed below. Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, Follow View all 16 employees About us Founded in 2014, Adit Ventures is a venture capital investment firm with over 1000 LPs,. 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. 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. Learn how we can help you build a portfolio of private growth emerging market leaders. Such statements are not guarantees of future performance and actual results or developments may ADIT Growth Equity Co - Invest LLC Series Esme. 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. With an Adit late-stage venture capital fund, youre investing in tomorrows market. 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. 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 . 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 seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. -Profitability: A clear path to profitability is essential to any investment. Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. 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 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. ADIT VENTURES MANAGEMENT, LLC ( CRD # 283262/SEC#:802-107701 ) ADIT VENTURES MANAGEMENT, LLC, PSP VENTURES MANAGEMENT LLC. 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. Adit invests via a global network of relationships cultivated over their 120 years of principal investing experience. 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. The . 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. 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 Ventures Profile and History . 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. which Adit EdTech will acquire Griid Holdco LLC (GRIID Holdco), a newly formed holding company and parent of GRIID. The funds will support rapid expansion, with plans to triple the headcount over the next year. The device is smart assistant compatible, seamlessly connecting to your smart home network. -Profitability: A clear path to profitability is essential to any investment. Adit's investment objective is 3x return of capital within a 3-5-year time frame. 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. InnovationInstitute. 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 . Adit Ventures offers curated and professionally managed access to equity in For investor inquiries regarding Adit EdTech and affiliates, please contact: For inquiries regarding GRIID, 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. 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). The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined Family Investment Office, Secondary Purchaser, Venture Capital, Early Stage Venture, Late Stage Venture, Secondary Market, Edit Lists Featuring This Company Section, East Coast Companies With Less Than $500M in Revenue (Top 10K), City of New York Companies With Less Than $1B in Revenue (Top 10K), Early Stage Venture Investors Family Investment Offices. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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. 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 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. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. -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? 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. employees/investors seeking liquidity. from 8 AM - 9 PM ET. Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. from 8 AM - 9 PM ET. The $246million of anticipated net transaction proceeds, assuming no redemptions, and an existing Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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