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 Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. Adit has invested in some of the worlds leading companies with exits in Airbnb, Astrocast, Cytocom, DocSend, Forge, Lemonade, Lyft, Palantir, Riff Analytics, Robinhood, Snap, SoFi, Spotify and Welltok. Covington& Burling LLP acted as legal advisor to Adit EdTech. The suit, which concerns the buying of Airbnb shares . filed with the SEC on April15, 2021. Adit invests via a global network of relationships cultivated over their 120 years of principal investing experience. Portfolio companies include Airbnb, Animoca Brands, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Ethos, Klarna, Netskope, Noom, Noveto, SpaceX and Turo among others. 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. Investment set to enable rapid company expansion and deliver a revolutionary listening device to the global market in Q4 2021. programs for the Massachusetts Institute of Technology and the University of Oxford, and serves as a non-executive director of blockchain infrastructure company Copper Technologies. 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 uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. Adit Ventures is a venture capital firm with offices in California, Florida, New York, Texas, and Utah. 1. InnovationInstitute. SEC by Adit EdTech through the website maintained by the SEC at www.sec.gov. Learn how we can help you build a portfolio of private growth emerging market leaders. Please visit www.aditventures.com for future updates. 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AI-based online learning platform adds to $7.5 million Series A investment round from January 2021, bringing total funding to $22.5 million. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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 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 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. Team Adit has relationships cultivated over their 175 years of principal investing experie nce. The landscape for markets and investments is constantly evolving. 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. 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, 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 Invest with us, sell your private shares, and learn more about working with Adit Ventures. Mr. Cholak has deployed over $90M in early stage capital across 15+ companies, with multiple successful exits. -Does it have a good capital base, board of directors/investors and well-regarded savvy Venture Sponsors? 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. 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. investments that create positive change. Commenting on the news, Munson said: "We invest in disruptive companies with the potential to cross verticals and scale at pace. This press release includes forward-looking statements, within the meaning of Section27A of the Securities Act of 1933, Genesis already has nine active portfolio companies and plans to grow the portfolio to 20-25 companies over the next three years. Family Investment Office, Secondary Purchaser, Venture Capital, Early Stage Venture, Late Stage Venture, Secondary Market, Edit Lists Featuring This Company Section, East Coast Companies With Less Than $500M in Revenue (Top 10K), City of New York Companies With Less Than $1B in Revenue (Top 10K), Early Stage Venture Investors Family Investment Offices. 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 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). Monitor your investments 24 hours a day, around the clock from around the globe. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. To learn more, visit griid.com. Aanika Re being domiciled in Bermuda is the natural progression for Aanika since it was accepted into the Bermuda Monetary Authoritys innovation hub earlier this year. "Adit Ventures is proud to have an executive with Lazear's experience further build out Adit's operational and compliance depth. -Profitability: A clear path to profitability is essential to any investment. GRIID management reports that it has over 1,300 MW of power (under agreement, MOU or LOI), of which 734 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. 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. and commercial due diligence. Bloomberg Daybreak Europe, anchored live from London, tracks breaking news in Europe and around the world. 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 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. CINCINNATI, OH AND NEW YORK, NY Markets are changing, and investments are too. Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. 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. The insurance industry is nothing new to Aanika, CEO Vishaal Bhuyan co-authored 3 books with FT Press and Wiley, on the use of insurance to address issues such as over-fishing, under-funded pensions and water scarcity. 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. 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. 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. View latest Form ADV filed. 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. Quantitative: -Valuation at entry is a critical discipline, as . For investor inquiries regarding Adit EdTech and affiliates, please contact: For inquiries regarding GRIID, We refer you to the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results 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. Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 Such statements are not guarantees of future performance and actual results or developments may -Is there a good management team, with depth and experience in meeting challenges, competitivethreats and executing its goals? SaaS, Android, Cloud Computing, Medical Device), Where the organization is headquartered (e.g. -Is there a good management team, with depth and experience in meeting challenges, competitive threats and executing its goals? Portfolio companies include Airbnb, Cohesity, Decision Sciences, ESME Learning, Flexport, Klarna, Netskope, Palantir, SpaceX and Turo among others. 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 an investment 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. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Adit has invested in some of the world's leading companies with exits in GoPro, Spotify, Snap and Lyft. With an Adit late-stage venture capital fund, youre investing in tomorrows market. 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. potential, predict, seek, should, would or by variations of such words or by similar expressions. Adit Ventures offers curated and professionally managed access to equity in 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. Aanika Biosciences is a Brooklyn based synthetic biology startup that uses microbes to improve food safety. Company profile page for Adit Ventures LLC including stock price, company news, press releases, executives, board members, and contact information . -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. At Adit Ventures, we offer curated and professionally managed access to equity in private firms that we believe are driving todays market and shaping tomorrows economy. We're introducing a third way using this groundbreaking technology. $525million credit facility will be used to fund GRIIDs growth and accelerate scale. Adit Ventures Profile and History . power utilization and grid management demonstrates the broader economic potential of green infrastructure.. 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. redemptions of shares of Adit EdTech by its public stockholders and approximately $125million of debt outstanding as of the closing (which debt is drawn down under GRIIDs $525million secured credit facility with Blockchain.com). Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Markets never sleep, and neither does Bloomberg News. solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. With the support of Adit, will deliver an entirely new type of sensory listening that will change the way people experience audio.". We have carefully selected an exclusive list of market-leading businesses that are fueling high-performing portfolios and revolutionizing industries. as amended (the Securities Act), and Section21E of the Securities Exchange Act of 1934, as amended. Principal Place of Business and Contact Information 3. company enterprise value of approximately $3.3billion. A family-owned firm with over a century of combined financial experience, Adit Ventures is a team of professionals committed to Adit is currently positioned to invest across the entire company life cycle (Seed to Pre-IPO). of the proposed transaction. Qualitative: -Is it a good business model, in a good sector with long term secular tends driving it? 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. 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. Assuming no redemptions, current GRIID equity holders will own approximately 90%, 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. The device is smart assistant compatible, seamlessly connecting to your smart home network. Adit Ventures serves clients in the United States. Join to view profile Adit Ventures, LLC. 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. 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. The . -Profitability: A clear path to profitability is essential to any investment. 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. employees/investors seeking liquidity. ADIT Growth Equity Co - Invest LLC Series Esme. Many factors could cause actual future events to differ materially from the forward-looking -Does the business adhere to fundamental ESG principles with character and integrity in its practice? REGISTRATION STATUS. 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. Adit invests across the entire lifecycle. 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. (Podcast), Will Smoking-Monkey JPEGsClog UpBitcoins Blockchain? 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. financial advisor to Adit EdTech for capital markets and M&A advisory services. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. 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! Griid Infrastructure LLC (GRIID) is a profitable, vertically integrated bitcoin self-mining company Please visit www.aditventures.com for further information. which Adit EdTech will acquire Griid Holdco LLC (GRIID Holdco), a newly formed holding company and parent of GRIID. 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. Find your B2B customer within minutes using affordable, accurate contact data from Datanyze. Eric Munson, Founder, and CEO, Adit Ventures, also joins the Noveto Board of Directors. Bloomberg Surveillance: Early Edition with Francine Lacqua live from London, bringing insight on global markets and the top business stories of the day. 20K followers 500+ connections. All of the forward-looking statements made in this press release are expressly qualified by the cautionary statements contained or referred to herein. transaction, and identify and realize additional opportunities. 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. The device prototype, capable of beaming pockets of sound outside the listener's ears without the need for speakers or headphones and with minimal disturbance to people nearby, firstdebuted in November 2020, receiving global media acclaim. Its business model focuses on purchasing shares from early-stage investors or employees seeking liquidity before the company has a liquidity event. With its unique "Jon's institutional top-decile performance record, combined with Adit Ventures existing top-quartile results, gives investors a choice of alternative investment options across the entire landscape" Munson added. Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. Its CEO, David Shrier, has published multiple books about blockchain and fintech, created the global online fintech and blockchain Adit Ventures commits a further $10 million, and . During his career, Mr. Cholak has held various technology and investment positions at Bank of America, Deloitte Consulting, Intel, and USAA. Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 Troutman Pepper Hamilton this transaction., David Shrier, CEO of Adit EdTech, added, Carbon-free mining is the future of bitcoin. nce. 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. Get updates from our experts, browse stock updates, and explore emerging trends that are shaping the market. Michael Block, a well-known market strategist and corporate advisor, has joined Adit Ventures, a New York late stage venture capital investment firm focused on companies driving today's market and tomorrow's economy, as Special Advisor. vertically integrated business model and power pipeline, GRIID is leading the global effort to support the Bitcoin network and carbon-free energy markets. 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 GRIIDs combination of a large Adit uses its proprietary ten-step investment process to identify high-value investment opportunities in dynamic and sustainable businesses. Earlier this year the company hired Catherine Bessleman, a seasoned and senior reinsurance underwriter formerly at Hamilton Re. 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. 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 contact. Adit Ventures is an employee owned and operated asset management firm headquartered in New York. The desktop device comes alive with the backing of engineering partner Foxconn, the biggest consumer electronics manufacturer globally. 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. Based in Cincinnati, Ohio, GRIID is a profitable, A proxy statement will be sent to all Adit EdTech Adit Ventures is a late-stage venture capital firm with headquarters in NYC. Adit manages early-stage and late-stage venture capital funds, selectively investing in dynamic, high-growth sectors like AI/Big Data, Cloud, Critical Infrastructure, Cybersecurity, EdTech, FinTech, HealthTech, Internet of Things, New Media & Entertainment and Space. events or otherwise. Adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively. Issuer's Identity 2. 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. 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. the combined company is expected to operate under the name GRIID 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. 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 Arthur D. Little LLC acted as advisor to Adit EdTech for technical Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. Why? (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. 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 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 is a venture capital investment firm with over 1250 LPs, $400MM in AUM, 3 offices across the US, and 9 exits. Active, Closed, This describes the type of investor this organization is (e.g. (Podcast). Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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. Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. Founded in 2014, Adit Ventures is a venture capital investment firm with over 1250 LPs, $400MM in AUM, five offices across the US, and exits in Airbnb, DocSend, GoPro, Lemonade, Palantir, SharesPost, SoFi, Snap, and Lyft. The actual results or developments anticipated may not be realized or, even if These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and -Profitability: A clear path to profitability is essential to any investment. will be provided in a Current Report on Form 8-K to be filed by Adit EdTech today with the U.S. Securities and Exchange Commission (the SEC) and will be available at www.sec.gov. 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 Before making any voting decision, investors and security holders of Adit EdTech are urged to read the proxy statement and all other relevant Adit Ventures is a late-stage venture capital firm with headquarters in NYC. 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