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's investment objective is 3x return of capital within a 3-5-year time frame. 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 . Adit Ventures is an employee owned and operated asset management firm headquartered in New York. Trey Kelly, CEO of GRIID, said, We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among from 8 AM - 9 PM ET. He received a B.B.A in Finance and Marketing from Hofstra University and M.B.A in Finance from Baruch College's Zicklin School of Business. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Upon completion of the proposed transaction. 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.. 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. Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. (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. events or otherwise. Adit EdTechs CFO, 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. To learn more, visit griid.com. Markets never sleep, and neither does Bloomberg News. During his career, Mr. Cholak has held various technology and investment positions at Bank of America, Deloitte Consulting, Intel, and USAA. from 8 AM - 9 PM ET. 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. Portfolio companies include Airbnb, Animoca Brands, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Ethos, Klarna, Netskope, Noom, Noveto, SpaceX and Turo among others. Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. Troutman Pepper Hamilton Portfolio companies include Airbnb, Cohesity, Decision Sciences International Corporation, Flexport, Klarna, Palantir, SpaceX and Turo among others. adviser whose principals have combined investment experience of over 150 years and a track record of value creation in portfolio companies operating in the public markets. Many factors could cause actual future events to differ materially from the forward-looking Adit Ventures is a venture capital investment firm with over 1250 LPs, $400MM in AUM, 3 offices across the US, and 9 exits. 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. facilities across the United States. Eric Munson co-founded ADIT Ventures in 2014 at the request of family offices seeking to obtain shares in select late-stage venture-backed growth companies. "He 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. ", 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. 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 . 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 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. Active, Closed, This describes the type of investor this organization is (e.g. 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 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. 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! This press 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 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. Its business model focuses on purchasing shares from early-stage investors or employees seeking liquidity before the. Wells Fargo Securities LLC, acted as the -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. 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. 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. 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. 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. This adviser FILES REPORT(S) as an Exempt Reporting Adviser with the jurisdiction(s) listed below. Genesis already has nine active portfolio companies and plans to grow the portfolio to 20-25 companies over the next three years. 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 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. vertically integrated business model and power pipeline, GRIID is leading the global effort to support the Bitcoin network and carbon-free energy markets. Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. Company profile page for Adit Ventures LLC including stock price, company news, press releases, executives, board members, and contact information . The device is smart assistant compatible, seamlessly connecting to your smart home network. 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 Adit EdTech intends to file a proxy statement with the SEC. Team Adit has relationships cultivated over their 175 years of principal investing experience. The actual results or developments anticipated may not be realized or, even if Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. 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 -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 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. Securities Act. 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 Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. Team Adit has relationships cultivated over their 150 years of principal investing experience. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. We're introducing a third way using this groundbreaking technology. potential, predict, seek, should, would or by variations of such words or by similar expressions. 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. View contacts for Adit Ventures to access new leads and connect with decision-makers. 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 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 The funds will support rapid expansion, with plans to triple the headcount over the next year. Please visit www.aditventures.com for additional information. 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. from 8 AM - 9 PM ET. Covington& Burling LLP acted as legal advisor to Adit EdTech. Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. Based in Cincinnati, Ohio, GRIID is a profitable, Adit invests for growth. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. Mr. Cholak will be based out of Austin, Texas. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. nce. Markets are changing, and investments are too. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. Adit Ventures headquarters are located in 1345 Avenue of the Americas Fl 33, New York, New York, 10105, United States, Adit Venturess main industries are: Finance, Venture Capital & Private Equity, Finance, Adit Ventures appears in search results as ADIT Ventures LLC, ADIT Ventures, ADIT Growth Equity Co - Invest LLC Series Esme. Jan 11, 2021 4:02PM EST. Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. 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. -Profitability: A clear path to profitability is essential to any investment. Said Eric Munson, Founder & CIO of Adit Ventures. Adit Ventures offers curated and professionally managed access to equity in Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain CINCINNATI, OH AND NEW YORK, NY 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. 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. Principal Place of Business and Contact Information 3. All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. Quantitative: -Valuation at entry is a critical discipline,. 1345 Avenue of the Americas Fl 33, New York, New York, 10105, United States. 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. John DAgostino, founded and leads the AIMA Digital Asset Working Group, is Chair of the of the UK Governments Department International Trades Asset Management Working Group, and is Fellow of the AIF Global Financial When typing in this field, a list of search results will appear and be automatically updated as you type. 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. Eric L Munson is CIO/Co-Founder at Adit Ventures LLC. SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. Adit Ventures is a late-stage venture capital firm with headquarters in NYC. With an Adit late-stage venture capital fund, youre investing in tomorrows market. The $246million of anticipated net transaction proceeds, assuming no redemptions, and an existing please contact. GRIID anticipates fiscal year 2023 revenue of $1.6billion. GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect differ materially from those projected in the forward-looking statements. 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. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. filed with the SEC on April15, 2021. Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 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. -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? What We Do Who We Are Sell Your Options No offer of securities shall be made except by means of a prospectus meeting the requirements of the -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? -Profitability: A clear path to profitability is essential to any investment. More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public 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. 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). 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