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. With the support of Adit, will deliver an entirely new type of sensory listening that will change the way people experience audio.". Aanika Biosciences is a Brooklyn based synthetic biology startup that uses microbes to improve food safety. -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? the board of managers of GRIID Holdco. 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. 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 These forward looking statements speak only as of the date of 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. Adit is currently positioned to invest across the entire company life cycle (Seed to Pre-IPO). events or otherwise. Please visit www.aditventures.com for further information. Adit Ventures is a venture capital firm with offices in California, Florida, New York, Texas, and Utah. ", 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. Adit Ventures is an investment Follow View all 16 employees About us Founded in 2014, Adit Ventures is a venture capital investment firm with over 1000 LPs,. 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. Angel, Fund of Funds, Venture Capital), This describes the stage of investments made by this organization (e.g. 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 EdTech intends to file a proxy statement with the SEC. 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. What We Do Who We Are Sell Your Options Contact: Julie Klugman www.aditventures.com, Cision Distribution 888-776-0942 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. general economic conditions, including as a result of the COVID-19 pandemic, and (xiii)the ability to implement business plans, forecasts, and other expectations after the completion of the proposed Such statements are not guarantees of future performance and actual results or developments may Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. 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. Along with opening a US office, the talent hires will help accelerate the delivery of Noveto's revolutionary first product. The proposed transaction values the combined company at an implied fully diluted pro forma enterprise value of approximately $3.3billion, assuming no . employees/investors seeking liquidity. Adit's investment objective is 3x return of capital within a 3-5-year time frame. 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. "Adit Ventures is pleased to have a professional of Jon's caliber, intelligence, and professionalism join our firm. A proxy statement will be sent to all Adit EdTech Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. 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. Upon completion of the proposed transaction. 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. 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. Monitor your investments 24 hours a day, around the clock from around the globe. 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Quantitative: -Valuation at entry is a critical discipline, as . 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 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 Managing Director - Co-Founder, Adit Genesis. Prior to this, Mr. Block spent over ten years in various leadership roles in trading, research, and strategy at various alternative investment firms including Sandell Asset Management and Magnetar Capital, and he began his career in Investment Banking at Donaldson, Lufkin & Jenrette. Adit has invested in some of the world's leading companies with exits in GoPro, Spotify, Snap and Lyft. 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. 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. (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. Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, TEL-AVIV, Israel, June 10, 2021 /PRNewswire/ -- Noveto Systems, today announced the successful completion of a bridge of $10 Million from renowned technology investors Adit Ventures, a firm. Adit Ventures serves clients in the United States. 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 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. 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. Jon will work with Adit in launching a new early stage venture platform, to complement existing Adit offerings. InnovationInstitute. Qualitative: -Is it a good business model, in a good sector with long term secular tends driving it? Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public shall not constitute an offer to sell or a solicitation of an offer to buy the securities of GRIID, the combined company or Adit EdTech, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, 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. Earlier this year the company hired Catherine Bessleman, a seasoned and senior reinsurance underwriter formerly at Hamilton Re. nce. Issuer's Identity 2. He writes daily on global markets and is a frequent expert panelist on networks like CNBC, Fox Business, Fox News, CNN, and Bloomberg, and is cited frequently by publications and websites like CNNMoney.com, Barron's, the Wall Street Journal, and the Washington Post. The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined 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. Arthur D. Little LLC acted as advisor to Adit EdTech for technical 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). REGISTRATION STATUS. Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. from 8 AM - 9 PM ET. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. 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 . SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. -Does it have a good capital base, board of directors/investors and well-regarded savvy Venture Sponsors? When typing in this field, a list of search results will appear and be automatically updated as you type. the combined company is expected to operate under the name GRIID Portfolio companies include Airbnb, Animoca Brands, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Ethos, Klarna, Netskope, Noom, Noveto, SpaceX and Turo among others. vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, 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. 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 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 Please visit www.aditventures.com for further information. CINCINNATI, OH AND NEW YORK, NY Portfolio companies include Airbnb, Animoca Brands, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Ethos, Klarna, Netskope, Noom, Noveto, SpaceX and Turo among others. (Podcast), Will Smoking-Monkey JPEGsClog UpBitcoins Blockchain? 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 Overnight on Wall Street is morning in Europe. Securities Act. Adit is firmly committed to generating a healthy return on our invested capital in alignment with our investors, our goals, and our principles. 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. 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, -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? GRIIDs combination of a large Contact:Julie [email protected], View original content to download multimedia:https://www.prnewswire.com/news-releases/adit-ventures-announces-chief-operating-officer-301339729.html, Plus500. 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. 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. Adit Ventures is a late-stage venture capital firm with headquarters in NYC. "Adit Ventures is proud to have an executive with Lazear's experience further build out Adit's operational and compliance depth. Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. Adit EdTechs CFO, Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. 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 Jan 11, 2021 4:02PM EST. Markets never sleep, and neither does Bloomberg News. Adit Ventures, LLC is a venture capital investment firm. $525million credit facility will be used to fund GRIIDs growth and accelerate scale. Adit Ventures commits a further $10 million, and . -Does the business adhere to fundamental ESG principles with character and integrity in its practice? Covington& Burling LLP acted as legal advisor to Adit EdTech. Adit Ventures is a venture capital investment firm with over 1250 LPs, $400MM in AUM, 3 offices across the US, and 9 exits. Adit invests via a global network of relationships cultivated over their 120 years of principal investing experience. 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. 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. 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. Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. stockholders. The transaction is expected to provide approximately $246 million of cash at closing from Adit EdTechs trust account, after payment of Adit EdTechs transaction expenses and without giving effect to any redemptions by Adit EdTech public 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. The landscape for markets and investments is constantly evolving. GRIIDs existing management team, led by President and Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. 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 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 is a family-office owned Venture Capital Investment advisor with 9 professionals, identifying companies with strong business fundamentals, investing alongside long-term secular. Adit uses its proprietary ten-step investment process to identify high-value investment opportunities in dynamic and sustainable businesses. Many factors could cause actual future events to differ materially from the forward-looking 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. 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. CEO Trey Kelly, will continue to lead the business. -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? 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 Adit Ventures is an employee owned and operated asset management firm headquartered in New York. Troutman Pepper Hamilton (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 ADIT VENTURES MANAGEMENT, LLC ( CRD # 283262/SEC#:802-107701 ) ADIT VENTURES MANAGEMENT, LLC, PSP VENTURES MANAGEMENT LLC. Markets are changing, and investments are too. When typing in this field, a list of search results will appear and be automatically updated as you type. facilities across the United States. 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. this transaction., David Shrier, CEO of Adit EdTech, added, Carbon-free mining is the future of bitcoin. Please visit www.aditventures.com for further information. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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. Mr. Lazear speaks at numerous global industry events on topics ranging from best practices, operational due diligence, and corporate governance. 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. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. AI-based online learning platform adds to $7.5 million Series A investment round from January 2021, bringing total funding to $22.5 million. 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 . Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 1. 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. please contact. Adit Ventures offers curated and professionally managed access to equity in private firms that the principals believe are driving today's . GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. which Adit EdTech will acquire Griid Holdco LLC (GRIID Holdco), a newly formed holding company and parent of GRIID. 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. internal and wireless security testing and assessment. -Profitability: A clear path to profitability is essential to any investment. Adits acquires shares in category-leading, high-growth private companies via direct investments in primary rounds or early. Companies are taking longer to exit, but investors are still building their portfolios of potentially market-leading companies before they go public. Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. 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. The desktop device comes alive with the backing of engineering partner Foxconn, the biggest consumer electronics manufacturer globally. 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