Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. This press Adit's investment objective is 3x return of capital within a 3-5-year time frame. A proxy statement will be sent to all Adit EdTech The funds will support rapid expansion, with plans to triple the headcount over the next year. financial advisor to Adit EdTech for capital markets and M&A advisory services. 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. 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. 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). Upon completion of the proposed transaction. He holds a B.S. An "Adit" is an entrance to a mine and serves as an anagram for the firm's services, since . Earlier this year the company hired Catherine Bessleman, a seasoned and senior reinsurance underwriter formerly at Hamilton Re. Such statements are not guarantees of future performance and actual results or developments may 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. stockholders. Principal Place of Business and Contact Information 3. Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. Additional Information and Where to Find It. Company profile page for Adit Ventures LLC including stock price, company news, press releases, executives, board members, and contact information . events or outcomes such as believe, may, will, estimate, continue, anticipate, design, intend, expect, could, plan, Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and Mr. Block will be based out of Adit's headquarters in New York. Noveto Closes $10M Million Bridge Led by GoPro and Palantir investor, Adit Ventures, to Further Lead $20M A Round Jun 10, 2021 Report incorrect company 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 proposed Jan 11, 2021 4:02PM EST. Arthur D. Little LLC acted as advisor to Adit EdTech for technical Please visit www.aditventures.com for additional information. Portfolio companies include Airbnb, Animoca Brands, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Ethos, Klarna, Netskope, Noom, Noveto, SpaceX and Turo among others. Genesis already has nine active portfolio companies and plans to grow the portfolio to 20-25 companies over the next three years. 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. transaction, and identify and realize additional opportunities. 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 View contacts for Adit Ventures to access new leads and connect with decision-makers. 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. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. 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. (Podcast), Will Smoking-Monkey JPEGsClog UpBitcoins Blockchain? Adit Ventures commits a further $10 million, and . Invest with us, sell your private shares, and learn more about working with Adit Ventures. 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 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. 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. Based in Cincinnati, Ohio, GRIID is a profitable, At Adit, we source privately held companies' shares exclusively from businesses that meet our high standards for corporate ethics, strong leadership, and environmental protection. Sanders LLP acted as legal advisor to GRIID. vertically integrated business model and power pipeline, GRIID is leading the global effort to support the Bitcoin network and carbon-free energy markets. Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. InnovationInstitute. Contact: Julie Klugman www.aditventures.com, Cision Distribution 888-776-0942 Adit is currently positioned to invest across the entire company life cycle (Seed to Pre-IPO). 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. GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining 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. 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 Adit Ventures is a late-stage venture capital firm with headquarters in NYC. and commercial due diligence. The foregoing list of factors is not exhaustive. Mr. Block will be publishing various thought leadership pieces about the markets and investable themes for Adit and its investors in the coming months. 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 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 We refer you to the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Investment set to enable rapid company expansion and deliver a revolutionary listening device to the global market in Q4 2021. events or otherwise. Adit Ventures is a venture capital firm with offices in California, Florida, New York, Texas, and Utah. The device is smart assistant compatible, seamlessly connecting to your smart home network. Many factors could cause actual future events to differ materially from the forward-looking More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. The landscape for markets and investments is constantly evolving. 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. Adit's investment objective is 3x return of capital within a 3-5-year time frame. 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 . filed with the SEC on April15, 2021. Internet Explorer presents a security risk. Find your B2B customer within minutes using affordable, accurate contact data from Datanyze. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. Mr. Cholak has deployed over $90M in early stage capital across 15+ companies, with multiple successful exits. Adit invests across the entire lifecycle. this press release. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Please visit www.aditventures.com for further information. With the ability to tag and distinguish identical commodities and deploy preventative technologies, Aanika Re can provide coverage in areas that have been historically difficult to insure and potentially provide a cost savings on existing types of coverage. Adit Ventures is a venture capital investment firm with over 1250 LPs, $400MM in AUM, 3 offices across the US, and 9 exits. During his career, Mr. Cholak has held various technology and investment positions at Bank of America, Deloitte Consulting, Intel, and USAA. 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. Follow View all 16 employees About us Founded in 2014, Adit Ventures is a venture capital investment firm with over 1000 LPs,. 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. Web Hypertext Application Technology Working Group, Get Free Access to Adit Ventures Contacts Info. nce. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. View latest Form ADV filed. Markets are changing, and investments are too. He will also chair the firm's Advisory Board which comprises a diverse group of experts providing thought leadership and counsel to Adit and its investors across a variety of areas and themes. investments that create positive change. 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. 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 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 seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. With its unique 1. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. Please visit www.aditventures.com for future updates. Portfolio companies include Airbnb, Cohesity, Decision Sciences International Corporation, Flexport, Klarna, Palantir, SpaceX and Turo among others. of the proposed transaction. private firms that the principals believe are driving todays market and shaping tomorrows economy. Adit has invested in some of the world's leading companies with exits in GoPro, Spotify, Snap and Lyft. Aanika Biosciences is a Brooklyn based synthetic biology startup that uses microbes to improve food safety. 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. No one in the trillion dollar insurance market is looking at biology as a source of data commented, Vishaal Bhuyan co-founder and CEO of Aanika Biosciences. 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 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. The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined Adit Ventures is a late-stage venture capital firm with headquarters in NYC. Covington& Burling LLP acted as legal advisor to Adit EdTech. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. -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 EdTechs CFO, Please visit www.aditventures.com for future updates. 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. Qualitative: -Is it a good business model, in a good sector with long term secular tends driving it? Mr. Lazear speaks at numerous global industry events on topics ranging from best practices, operational due diligence, and corporate governance. 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 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 The actual results or developments anticipated may not be realized or, even if Adit invests for growth. A leading venture capital investment firm based in New York City. The suit, which concerns the buying of Airbnb shares . 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. 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 Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public -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. 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