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 as amended (the Securities Act), and Section21E of the Securities Exchange Act of 1934, as amended. 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. 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 has invested in some of the world's leading companies with exits in Airbnb, DocSend, GoPro, Lemonade, Palantir, SharesPost, SoFi, Spotify, Snap and Lyft. With its unique 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. -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. 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. Jan 11, 2021 4:02PM EST. 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. Please visit www.aditventures.com for future updates. Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. 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. 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. SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. Monitor your investments 24 hours a day, around the clock from around the globe. For investor inquiries regarding Adit EdTech and affiliates, please contact: For inquiries regarding GRIID, 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 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. An "Adit" is an entrance to a mine and serves as an anagram for the firm's services, since . 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. 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. 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. 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! Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. Create a portfolio thats built for the future, with investments focused on cultural and technological trends that have the potential to define the next financial generation. 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. $525million credit facility will be used to fund GRIIDs growth and accelerate scale. 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. Get updates from our experts, browse stock updates, and explore emerging trends that are shaping the market. Adit Ventures commits a further $10 million, and . 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 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. Quantitative: -Valuation at entry is a critical discipline,. Please visit www.aditventures.com for additional information. Adit uses its proprietary ten-step investment process to identify high-value investment opportunities in dynamic and sustainable businesses. Companies are taking longer to exit, but investors are still building their portfolios of potentially market-leading companies before they go public. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. potential, predict, seek, should, would or by variations of such words or by similar expressions. facilities across the United States. 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 Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. 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 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. 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. events or outcomes such as believe, may, will, estimate, continue, anticipate, design, intend, expect, could, plan, "Adit Ventures is proud to have an executive with Lazear's experience further build out Adit's operational and compliance depth. GRIID anticipates fiscal year 2023 revenue of $1.6billion. Eric Munson, Founder, and CEO, Adit Ventures, also joins the Noveto Board of Directors. 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). 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. transaction, and identify and realize additional opportunities. Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. 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. Here's a list of some of the top trending technologies and APIs used by Adit Ventures. The proposed transaction values the combined company at an implied fully diluted pro forma enterprise value of approximately $3.3billion, assuming no Please visit www.aditventures.com for future updates. Adit's investment objective is 3x return of capital within a 3-5-year time frame. please contact. 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. -Profitability: A clear path to profitability is essential to any investment. -Profitability: A clear path to profitability is essential to any investment. financial advisor to Adit EdTech for capital markets and M&A advisory services. Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain Mr. Lazear speaks at numerous global industry events on topics ranging from best practices, operational due diligence, and corporate governance. Mr. Cholak will be based out of Austin, Texas. More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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. -Profitability: A clear path to profitability is essential to any investment. Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 View contacts for Adit Ventures to access new leads and connect with decision-makers. -Does the business adhere to fundamental ESG principles with character and integrity in its practice? employees/investors seeking liquidity. Adits acquires shares in category-leading, high-growth private companies via direct investments in primary rounds or early. Invest with us, sell your private shares, and learn more about working with Adit Ventures. Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement and all other relevant Arthur D. Little LLC acted as advisor to Adit EdTech for technical The $246million of anticipated net transaction proceeds, assuming no redemptions, and an existing 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. GRIIDs existing management team, led by President and 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. Portfolio companies include Airbnb, Cohesity, Decision Sciences International Corporation, Flexport, Klarna, Palantir, SpaceX and Turo among others. otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Adit invests via a global network of relationships cultivated over their 120 years of principal investing experience. 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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. Please visit www.aditventures.com for further information. 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. investments that create positive change. 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. Please visit www.aditventures.com for further information. 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. Mr. Cholak started his career at Deloitte Consulting where he managed large scale custom software development projects in the health and human services sector. Markets are changing, and investments are too. 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 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 When typing in this field, a list of search results will appear and be automatically updated as you type. Internet Explorer presents a security risk. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. Contact:Julie Klugmaninfo@adit.vcwww.aditventures.com, View original content to download multimedia:https://www.prnewswire.com/news-releases/adit-ventures-announces-chief-operating-officer-301339729.html, Plus500. GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining 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. Adit Ventures is a venture capital investment firm with over 1250 LPs, $400MM in AUM, 3 offices across the US, and 9 exits. Said Eric Munson, Founder & CIO of Adit Ventures. Join to view profile Adit Ventures, LLC. CINCINNATI, OH AND NEW YORK, NY 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. With the support of Adit, will deliver an entirely new type of sensory listening that will change the way people experience audio.". Commenting on the news, Munson said: "We invest in disruptive companies with the potential to cross verticals and scale at pace. A proxy statement will be sent to all Adit EdTech stockholders. 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. 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. Overnight on Wall Street is morning in Europe. 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. 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 is firmly committed to generating a healthy return on our invested capital in alignment with our investors, our goals, and our principles. Edelstein& Company, LLP acted as advisor to Adit EdTech for accounting and tax due diligence and quality of earnings assessment. Team Adit has relationships cultivated over their 175 years of principal investing experie nce. -Does it have a good capital base, board of directors/investors and well-regarded savvy Venture Sponsors? ADIT VENTURES MANAGEMENT, LLC ( CRD # 283262/SEC#:802-107701 ) ADIT VENTURES MANAGEMENT, LLC, PSP VENTURES MANAGEMENT LLC. GRIIDs combination of a large Principal Place of Business and Contact Information 3. Along with opening a US office, the talent hires will help accelerate the delivery of Noveto's revolutionary first product. Adit Ventures Profile and History . When typing in this field, a list of search results will appear and be automatically updated as you type. company enterprise value of approximately $3.3billion. 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. 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. Adit Ventures is a venture capital investment firm with over 1250 LPs, $400MM in AUM, 3 offices across the US, and 9 exits. 'S revolutionary first product software development projects in the health and human services sector adit.vcwww.aditventures.com..., we recommend the latest versions of of directors/investors and well-regarded savvy Venture Sponsors of private growth emerging leaders. The health and human services sector Decision Sciences International Corporation, Flexport, Klarna, Palantir SpaceX! 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