Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. Markets never sleep, and neither does Bloomberg News. Abortion Pill Lawsuit Won't Get a Fair . Companies are taking longer to exit, but investors are still building their portfolios of potentially market-leading companies before they go public. 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. The landscape for markets and investments is constantly evolving. 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. -Profitability: A clear path to profitability is essential to any investment. Eric Munson, Founder, and CEO, Adit Ventures, also joins the Noveto Board of Directors. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. events or otherwise. Find your B2B customer within minutes using affordable, accurate contact data from Datanyze. 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 Portfolio companies include Airbnb, Animoca Brands, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Ethos, Klarna, Netskope, Noom, Noveto, SpaceX and Turo among others. 20K followers 500+ connections. "Adit Ventures is proud to have an executive with Lazear's experience further build out Adit's operational and compliance depth. 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 Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. 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 otherwise, will be contained in the proxy statement and other relevant materials to be filed with the SEC when they become available. GRIID, Adit EdTech and their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect 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 includes forward-looking statements, within the meaning of Section27A of the Securities Act of 1933, Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. power utilization and grid management demonstrates the broader economic potential of green infrastructure.. 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 . 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. 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. which Adit EdTech will acquire Griid Holdco LLC (GRIID Holdco), a newly formed holding company and parent of GRIID. -Is there a good management team, with depth and experience in meeting challenges, competitivethreats and executing its goals? Adit EdTech intends to file a proxy statement with the SEC. 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. Quantitative: -Valuation at entry is a critical discipline,. Mr. Cholak started his career at Deloitte Consulting where he managed large scale custom software development projects in the health and human services sector. 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. 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. 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. vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. Portfolio companies include Airbnb, Cohesity, Decision Sciences International Corporation, Flexport, Klarna, Palantir, SpaceX and Turo among others. -Profitability: A clear path to profitability is essential to any investment. Team Adit has relationships cultivated over their 175 years of principal investing experie nce. Contact:Julie Klugman[emailprotected]www.aditventures.com, Cision Distribution 888-776-0942 Team Adit has relationships cultivated over their 150 years of principal investing experience. 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Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. New York, New York, United States 11-50 Family Investment Office, Secondary Purchaser, Venture Capital Early Stage Venture, Late Stage Venture, Secondary Market www.aditventures.com 6,552 Highlights Funds 3 Investments 24 The merger between GRIID and Adit EdTech Acquisition Corp. (ADEX) represents a pro forma combined Jan 11, 2021 4:02PM EST. 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. Trey Kelly, CEO of GRIID, said, We are building an American infrastructure company with the largest pipeline of committed, carbon-free power among solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. 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. The suit, which concerns the buying of Airbnb shares . 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 Adit is currently positioned to invest across the entire company life cycle (Seed to Pre-IPO). Many factors could cause actual future events to differ materially from the forward-looking -Is there a good management team, with depth and experience in meeting challenges, competitive threats and executing its goals? With the support of Adit, will deliver an entirely new type of sensory listening that will change the way people experience audio.". Learn how we can help you build a portfolio of private growth emerging market leaders. Along with opening a US office, the talent hires will help accelerate the delivery of Noveto's revolutionary first product. internal and wireless security testing and assessment. public bitcoin miners at the lowest cost of scaled production. Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. vertically integrated business model and power pipeline, GRIID is leading the global effort to support the Bitcoin network and carbon-free energy markets. The proposed transaction values the combined company at an implied fully diluted pro forma enterprise value of approximately $3.3billion, assuming no Adit's investment objective is 3x return of capital within a 3-5-year time frame. 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. investments that create positive change. Company profile page for Adit Ventures LLC including stock price, company news, press releases, executives, board members, and contact information . 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 press release. Quantitative: -Valuation at entry is a critical discipline,. Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. 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 Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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. Please visit www.aditventures.com for additional information. 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. 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. Team Adit has relationships cultivated over their 175 years of principal investing experience. Lincoln International LLC acted as financial advisor to Adit EdTech to provide a fairness opinion. Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, Its business model focuses on purchasing shares from early-stage investors or employees seeking liquidity before the company has a liquidity event. Adit Ventures is a late-stage venture capital firm with headquarters in NYC. Adit Ventures is a venture capital investment firm with over 1250 LPs, $400MM in AUM, 3 offices across the US, and 9 exits. 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