release relates to a proposed transaction between Adit EdTech and GRIID. 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 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. this press release. Arthur D. Little LLC acted as advisor to Adit EdTech for technical offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Please visit www.aditventures.com for future updates. Issuer's Identity 2. Portfolio companies include Airbnb, Animoca Brands, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Ethos, Klarna, Netskope, Noom, Noveto, SpaceX and Turo among others. Adit invests for growth. We have carefully selected an exclusive list of market-leading businesses that are fueling high-performing portfolios and revolutionizing industries. Adit's invested in some of the world's leading companies with exits in GoPro, Spotify, Snap and Lyft. The desktop device comes alive with the backing of engineering partner Foxconn, the biggest consumer electronics manufacturer globally. Adit's investment objective is 3x return of capital within a 3-5-year time frame. 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. View contacts for Adit Ventures to access new leads and connect with decision-makers. solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. nce. The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined Team Adit has relationships cultivated over their 175 years of principal investing experience. The proposed transaction values the combined company at an implied fully diluted pro forma enterprise value of approximately $3.3billion, assuming no from New York University and an MBA from The University of Texas at Austin. Please visit www.aditventures.com for future updates. 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. Adits acquires shares in category-leading, high-growth private companies via direct investments in primary rounds or early. 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. 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 seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. Adit has invested in some of the world's leading companies with exits in GoPro, Spotify, Snap and Lyft. Many factors could cause actual future events to differ materially from the forward-looking Quantitative: -Valuation at entry is a critical discipline,. 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. Internet Explorer presents a security risk. View latest Form ADV filed. 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. -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? REGISTRATION STATUS. 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. 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 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 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. 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. 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. Trey Kelly, CEO of GRIID, said, We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among When typing in this field, a list of search results will appear and be automatically updated as you type. Adit EdTech intends to file a proxy statement with the SEC. 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. With its unique 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. Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 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. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and Abortion Pill Lawsuit Won't Get a Fair . 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. Please visit www.aditventures.com for further information. this transaction., David Shrier, CEO of Adit EdTech, added, Carbon-free mining is the future of bitcoin. With the support of Adit, will deliver an entirely new type of sensory listening that will change the way people experience audio.". Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. 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. 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. This adviser FILES REPORT(S) as an Exempt Reporting Adviser with the jurisdiction(s) listed below. "Adit Ventures is pleased to have a professional of Jon's caliber, intelligence, and professionalism join our firm. ADIT Growth Equity Co - Invest LLC Series Esme. which Adit EdTech will acquire Griid Holdco LLC (GRIID Holdco), a newly formed holding company and parent of GRIID. Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. With an Adit late-stage venture capital fund, youre investing in tomorrows market. Find your B2B customer within minutes using affordable, accurate contact data from Datanyze. InnovationInstitute. The landscape for markets and investments is constantly evolving. 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 Portfolio companies include Airbnb, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Klarna, Noom, Netskope, SpaceX and Turo among others. public bitcoin miners at the lowest cost of scaled production. Additional Information and Where to Find It. from 8 AM - 9 PM ET. 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. Total number of diversity investments made by an investor, Total number of employee profiles an organization has on Crunchbase, Total number of Crunchbase contacts associated with this organization, Descriptive keyword for an Organization (e.g. 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. When typing in this field, a list of search results will appear and be automatically updated as you type. stockholders. Adit Ventures is a venture capital firm with offices in California, Florida, New York, Texas, and Utah. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. please contact. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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 . private firms that the principals believe are driving todays market and shaping tomorrows economy. 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. stockholders. Portfolio companies include Airbnb, Animoca Brands, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Ethos, Klarna, Netskope, Noom, Noveto, SpaceX and Turo among others. 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 an employee-owned investment firm with offices in California, Florida and New York. Qualitative: -Is it a good business model, in a good sector with long term secular tends driving it? 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. 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 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. Upon completion of the proposed transaction. 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. 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. otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. 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. No offer of securities shall be made except by means of a prospectus meeting the requirements of the To learn more, visit griid.com. Angel, Fund of Funds, Venture Capital), General contact email for the organization. Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future (Podcast), Will Smoking-Monkey JPEGsClog UpBitcoins Blockchain? transaction, and identify and realize additional opportunities. Please visit www.aditventures.com for further information. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. Monitor your investments 24 hours a day, around the clock from around the globe. Sanders LLP acted as legal advisor to GRIID. 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. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Its business model focuses on purchasing shares from early-stage investors or employees seeking liquidity before the company has a liquidity event. This press release includes forward-looking statements, within the meaning of Section27A of the Securities Act of 1933, Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. Adit EdTech is a publicly listed We're introducing a third way using this groundbreaking technology. 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. Along with opening a US office, the talent hires will help accelerate the delivery of Noveto's revolutionary first product. GRIIDs existing management team, led by President and Active, Closed, This describes the type of investor this organization is (e.g. Adit Ventures offers curated and professionally managed access to equity in See Eric L Munson's compensation, career history, education, & memberships. 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. 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. ", 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. When typing in this field, a list of search results will appear and be automatically updated as you type. 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 of the proposed transaction. Jon will work with Adit in launching a new early stage venture platform, to complement existing Adit offerings. Portfolio companies include Airbnb, Cohesity, Decision Sciences, ESME Learning, Flexport, Klarna, Netskope, Palantir, SpaceX and Turo among others. 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. as amended (the Securities Act), and Section21E of the Securities Exchange Act of 1934, as amended. Here's a list of some of the top trending technologies and APIs used by Adit Ventures. -Does the business adhere to fundamental ESG principles with character and integrity in its practice? Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. Contact: Julie Klugman www.aditventures.com, Cision Distribution 888-776-0942 Adit Ventures is a late-stage venture capital firm with headquarters in NYC. Quantitative: -Valuation at entry is a critical discipline, as . Please visit www.aditventures.com for further information. -Profitability: A clear path to profitability is essential to any investment. 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 proud to have an executive with Lazear's experience further build out Adit's operational and compliance depth. Markets never sleep, and neither does Bloomberg News. 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. (Podcast). 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