-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 Ventures commits a further $10 million, and . 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 San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. 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 Adit is currently positioned to invest across the entire company life cycle (Seed to Pre-IPO). CINCINNATI, OH AND NEW YORK, NY See Eric L Munson's compensation, career history, education, & memberships. 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. 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. 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. 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. Its business model focuses on purchasing shares from early-stage investors or employees seeking liquidity before the. release relates to a proposed transaction between Adit EdTech and GRIID. These forward looking statements speak only as of the date of TEL-AVIV, Israel, June 10, 2021 /PRNewswire/ -- Noveto Systems, today announced the successful completion of a bridge of $10 Million from renowned technology investorsAdit Ventures, a firm that has invested in some of the world's leading disruptive companies, with exits in GoPro, Spotify, Palantir and Lyft. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or 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 . Markets are changing, and investments are too. Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement and all other relevant The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and 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. differ materially from those projected in the forward-looking statements. 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 Mr. Block will be publishing various thought leadership pieces about the markets and investable themes for Adit and its investors in the coming months. The funds will support rapid expansion, with plans to triple the headcount over the next year. Investment set to enable rapid company expansion and deliver a revolutionary listening device to the global market in Q4 2021. -Is there a good management team, with depth and experience in meeting challenges, competitive threats and executing its goals? GRIID management reports that it has over 1,300 MW of power (under agreement, MOU or LOI), of which 734 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 invests across the entire lifecycle. When typing in this field, a list of search results will appear and be automatically updated as you type. Quantitative: -Valuation at entry is a critical discipline,. Adit's investment objective is 3x return of capital within a 3-5-year time frame. Please visit www.aditventures.com for further information. The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined www.sec.gov. With an Adit late-stage venture capital fund, youre investing in tomorrows market. This press release includes forward-looking statements, within the meaning of Section27A of the Securities Act of 1933, The $246million of anticipated net transaction proceeds, assuming no redemptions, and an existing Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. investments that create positive change. This adviser FILES REPORT(S) as an Exempt Reporting Adviser with the jurisdiction(s) listed below. 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. Qualitative: -Is it a good business model, in a good sector with long term secular tends driving it? Jon will work with Adit in launching a new early stage venture platform, to complement existing Adit offerings. Based in Cincinnati, Ohio, GRIID is a profitable, Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. Learn how we can help you build a portfolio of private growth emerging market leaders. Wells Fargo Securities LLC, acted as the Adit Ventures serves clients in the United States. Mr. Cholak has deployed over $90M in early stage capital across 15+ companies, with multiple successful exits. 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 . REGISTRATION STATUS. Company profile page for Adit Ventures LLC including stock price, company news, press releases, executives, board members, and contact information . 86% of retail CFD accounts lose money, https://www.prnewswire.com/news-releases/adit-ventures-announces-chief-operating-officer-301339729.html, Registration on or use of this site constitutes acceptance of our. We have carefully selected an exclusive list of market-leading businesses that are fueling high-performing portfolios and revolutionizing industries. 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 Qualitative: -Is it a good business model, in a good sector with long term secular tends driving it? 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. Adit Ventures, LLC is a venture capital investment firm. 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. Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. -Profitability: A clear path to profitability is essential to any investment. financial advisor to Adit EdTech for capital markets and M&A advisory services. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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 Portfolio companies include Airbnb, Animoca Brands, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Ethos, Klarna, Netskope, Noom, Noveto, SpaceX and Turo among others. GRIID anticipates fiscal year 2023 revenue of $1.6billion. We refer you to the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of 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. Please visit www.aditventures.com for future updates. facilities across the United States. 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. Adit Ventures offers curated and professionally managed access to equity in private firms that the principals believe are driving today's . For investor inquiries regarding Adit EdTech and affiliates, please contact: For inquiries regarding GRIID, Adit's investment objective is 3x return of capital within a 3-5-year time frame. Adit EdTech intends to file a proxy statement with the SEC. from 8 AM - 9 PM ET. transaction, and identify and realize additional opportunities. $525million credit facility will be used to fund GRIIDs growth and accelerate scale. Adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively. 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. Follow View all 16 employees About us Founded in 2014, Adit Ventures is a venture capital investment firm with over 1000 LPs,. (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 The actual results or developments anticipated may not be realized or, even if 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. -Is there a good management team, with depth and experience in meeting challenges, competitivethreats and executing its goals? ADIT VENTURES MANAGEMENT, LLC ( CRD # 283262/SEC#:802-107701 ) ADIT VENTURES MANAGEMENT, LLC, PSP VENTURES MANAGEMENT LLC. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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 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. 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, Sanders LLP acted as legal advisor to GRIID. (Podcast), Will Smoking-Monkey JPEGsClog UpBitcoins Blockchain? 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. 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. 20K followers 500+ connections. 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. 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. this press release. 1345 Avenue ofthe Americas, FL 33New York, NY 10105, Video player - eric-munson-thumb - Click to play video, Car sharing startup Turo reveals revenue surge in IPO filing, Forge Global to Go Public in $2 Billion Merger with Motive Capital Corp, Car-sharing marketplace Turo confidentially files for U.S. IPO, Hong Kongs Mr. -Profitability: A clear path to profitability is essential to any investment. offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. The device is smart assistant compatible, seamlessly connecting to your smart home network. Adit Ventures is an employee owned and operated asset management firm headquartered in New York. Companies are taking longer to exit, but investors are still building their portfolios of potentially market-leading companies before they go public. Mr. Cholak started his career at Deloitte Consulting where he managed large scale custom software development projects in the health and human services sector. University of Oxford - Said Business School . Portfolio companies include Airbnb, Cohesity, Decision Sciences International Corporation, Flexport, Klarna, Palantir, SpaceX and Turo among others. potential, predict, seek, should, would or by variations of such words or by similar expressions. GRIIDs existing management team, led by President and Noveto impressed us with its game-changing technology that can positively transform the quality of life in both consumer and work environments. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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 is a late-stage venture capital firm with headquarters in NYC. 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.
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