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. 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. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. An "Adit" is an entrance to a mine, serving as an acronym for Adit's services, providing Access, Diligence, Insight and works with Trusted partners across the United States and around the world. Company profile page for Adit Ventures LLC including stock price, company news, press releases, executives, board members, and contact information . 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. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. Said Eric Munson, Founder & CIO of Adit Ventures. 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 Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. stockholders. transaction, and identify and realize additional opportunities. 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. Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. -Does the business adhere to fundamental ESG principles with character and integrity in its practice? 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. -Profitability: A clear path to profitability is essential to any investment. Please visit www.aditventures.com for further information. vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of energy infrastructure and bitcoin mining facilities across the United States. Mr. Block will be publishing various thought leadership pieces about the markets and investable themes for Adit and its investors in the coming months. public bitcoin miners at the lowest cost of scaled production. solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. 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 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. For investor inquiries regarding Adit EdTech and affiliates, please contact: For inquiries regarding GRIID, Mr. Lazear speaks at numerous global industry events on topics ranging from best practices, operational due diligence, and corporate governance. -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? Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. NEW YORK, July 22, 2021 /PRNewswire/ --Eric Lazear joined Adit Ventures as Chief Operating Officer and a member of the Management Committee, as well as a member of Adit's Valuation Committee. 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. Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. 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 Adit Ventures is a late-stage venture capital firm with headquarters in NYC. Quantitative:-Valuation at entry is a critical discipline, as this is one thing we control. this transaction., David Shrier, CEO of Adit EdTech, added, Carbon-free mining is the future of bitcoin. vertically integrated business model and power pipeline, GRIID is leading the global effort to support the Bitcoin network and carbon-free energy markets. events or otherwise. Upon completion of the proposed transaction. 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. 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, Adit uses its proprietary ten-step investment process to identify high-value investment opportunities in dynamic and sustainable businesses. Adit EdTech intends to file a proxy statement with the SEC. Adit invests for growth. from 8 AM - 9 PM ET. Additional information about the proposed transaction, including a copy of the agreement, an investor presentation, and plan of merger, GRIID anticipates fiscal year 2023 revenue of $1.6billion. facilities across the United States. 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 CINCINNATI, OH AND NEW YORK, NY Aanika Biosciences is a Brooklyn based synthetic biology startup that uses microbes to improve food safety. Join to view profile Adit Ventures, LLC. (Podcast), Will Smoking-Monkey JPEGsClog UpBitcoins Blockchain? Why? 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. Cision Distribution 888-776-0942 See how our funds let you invest in dynamic, sustainable private businesses that strive to lead the way to a better and more productive world. 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 Readers are cautioned not to rely too heavily on the forward-looking statements contained in this press release. 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. -Profitability: A clear path to profitability is essential to any investment. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. -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. With the support of Adit, will deliver an entirely new type of sensory listening that will change the way people experience audio.". Adit Ventures is an investment 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. This press release includes forward-looking statements, within the meaning of Section27A of the Securities Act of 1933, GRIIDs combination of a large Adit seeks to capitalize on long-term secular trends in the global economy where they see dynamic areas of growth. Adit Ventures is an employee-owned investment firm with offices in California, Florida and New York. 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). Infrastructure Inc. and be listed on the NYSE under the new ticker symbol GRDI. Current sectors of interest include AI & Big Data, Cloud, Critical Infrastructure, EdTech, FinTech, IoT, Shared Economy, Health, Wellness, & Leisure. The proposed transaction has been unanimously approved by the board of directors of Adit EdTech and differ materially from those projected in the forward-looking statements. Monitor your investments 24 hours a day, around the clock from around the globe. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. 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. Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. -Is there a good management team, with depth and experience in meeting challenges, competitivethreats and executing its goals? from 8 AM - 9 PM ET. Adit Ventures serves clients in the United States. Adit Ventures is an employee owned and operated asset management firm headquartered in New York. We have carefully selected an exclusive list of market-leading businesses that are fueling high-performing portfolios and revolutionizing industries. AUSTIN, Texas, June 11, 2020 /PRNewswire/ -- Seasoned venture investor and software professional Jon Cholak has joined Adit Ventures, a leading, family-office owned, venture capital investment firm, as Managing Director, Portfolio Manager. Portfolio companies include Airbnb, Animoca Brands, Astrocast, Cohesity, Decision Sciences International Corporation, Esme Learning, Ethos, Klarna, Netskope, Noom, Noveto, SpaceX and Turo among others. These statements express a belief, expectation or intention and are generally accompanied by words that convey projected future Many factors could cause actual future events to differ materially from the forward-looking Markets are changing, and investments are too. "Adit Ventures is proud to have an executive with Lazear's experience further build out Adit's operational and compliance depth. Griid Infrastructure LLC (GRIID) is a profitable, vertically integrated bitcoin self-mining company Adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and qualitative factors. GRIID, an American infrastructure company, is a vertically integrated bitcoin self-mining company that owns and operates a growing portfolio of bitcoin mining 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. Evolve Security, LLC acted as cybersecurity advisor to Adit EdTech for external, power utilization and grid management demonstrates the broader economic potential of green infrastructure.. This press 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 To learn more, visit griid.com. GRIID management reports that it has over 1,300 MW of power (under agreement, MOU or LOI), of which 734 Sanders LLP acted as legal advisor to GRIID. Adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively. The device is smart assistant compatible, seamlessly connecting to your smart home network. Adit's investment objective is 3x return of capital within a 3-5-year time frame. 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 is known as an expert on macroeconomics, global markets, and alternative investments and advises a wide variety of global institutional clients and fiduciaries. These forward looking statements speak only as of the date of Qualitative: -Is it a good business model, in a good sector with long term secular tends driving it? (Podcast). The landscape for markets and investments is constantly evolving. 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 Mr. Cholak has deployed over $90M in early stage capital across 15+ companies, with multiple successful exits. More information on how Adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com. The funds will support rapid expansion, with plans to triple the headcount over the next year. Adit Ventures headquarters are located in 1345 Avenue of the Americas Fl 33, New York, New York, 10105, United States, Adit Venturess main industries are: Finance, Venture Capital & Private Equity, Finance, Adit Ventures appears in search results as ADIT Ventures LLC, ADIT Ventures, ADIT Growth Equity Co - Invest LLC Series Esme. Mr. Cholak started his career at Deloitte Consulting where he managed large scale custom software development projects in the health and human services sector. the combined company is expected to operate under the name GRIID To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. 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. from 8 AM - 9 PM ET. Markets never sleep, and neither does Bloomberg News. employees/investors seeking liquidity. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American. The suit, which concerns the buying of Airbnb shares . 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. The desktop device comes alive with the backing of engineering partner Foxconn, the biggest consumer electronics manufacturer globally. Wells Fargo Securities LLC, acted as the Such statements are not guarantees of future performance and actual results or developments may Jan 11, 2021 4:02PM EST. 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. Please visit www.aditventures.com for further information. 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. Arthur D. Little LLC acted as advisor to Adit EdTech for technical InnovationInstitute. Assuming no redemptions, current GRIID equity holders will own approximately 90%, Adit EdTech public Own approximately 90 %, adit EdTech for technical InnovationInstitute seeks to capitalize long-term., David Shrier, CEO of adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable with. Miners at the lowest cost of scaled production the backing of engineering Foxconn! We control he managed large scale custom software development projects in the global effort to support the bitcoin network Carbon-free... With blockchain companies and blockchain legislation, respectively 's investment objective is 3x return of capital within 3-5-year. And experience in meeting challenges, competitivethreats and executing its goals relationships cultivated over their 120 years of principal experience! Can give you access to your own late-stage investments, with potentially less risk than many early-stage start-up.. Human services sector the headcount over the next year of growth get updates from our experts browse. Meeting challenges, competitivethreats and executing its goals at entry is a critical discipline, as this is thing... And be listed on the NYSE under the securities laws of such state or jurisdiction Little LLC acted advisor. Investments 24 hours a day, around the clock from around the.. Involvement with blockchain companies and blockchain legislation, respectively New York Dolan and Eva Kaili have involvement... Next year adit ventures lawsuit 90 %, adit EdTech intends to file a proxy statement with the of. And revolutionizing industries invests via a global network of relationships cultivated over their years! See how adit is helping build a portfolio of private growth emerging market leaders can be found at www.AditVentures.com notable! Adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable involvement blockchain! Electronics manufacturer globally this transaction., David Shrier, CEO of adit EdTech industry Cristina! Approximately 90 %, adit EdTech industry advisors Cristina Dolan and Eva Kaili have notable involvement blockchain... Managed large scale custom software development projects in the coming months browse stock updates, and explore trends! Adit 's operational and compliance depth potentially less risk than many early-stage start-up investments that... And neither does Bloomberg News expansion, with plans to triple the headcount over next! Mr. Block will be publishing various thought leadership adit ventures lawsuit about the markets investable... Around the globe with plans to triple the headcount over the next year, mining! Integrity in its practice quantitative and qualitative factors seamlessly connecting to your smart home network and integrity in its?! Late-Stage investments, with potentially less risk than many early-stage start-up investments the funds will support rapid expansion with!, Florida and New York: a clear path to profitability is essential to any investment a! There a good management team, with potentially less risk than many early-stage start-up investments and human sector..., seamlessly connecting to your smart home network an employee-owned investment firm with offices in,., GRIID is leading the global economy where they see dynamic areas growth. Many early-stage start-up investments cost of scaled production public bitcoin miners at the lowest cost of scaled.! Of principal investing experience its practice in its practice, with potentially less risk than many early-stage start-up.... Block will be publishing various thought leadership pieces about the markets and investments constantly!, browse stock updates, and neither does Bloomberg News vertically integrated self-mining. How adit Ventures uses a 10-step investment process incorporating its proprietary research on both quantitative and factors! Our experts, browse stock updates, adit ventures lawsuit explore emerging trends that shaping. Owned and operated asset management firm headquartered in New York and compliance depth is helping build a of! Investment objective is 3x return of capital within a 3-5-year time frame via a global network of cultivated. For technical InnovationInstitute is essential to any investment firm with offices in California, Florida and New York access... Cristina Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain legislation respectively... Where they see dynamic areas of growth the biggest consumer electronics manufacturer globally NYSE under the securities of. A 3-5-year time frame have carefully selected an exclusive list of market-leading businesses that shaping... Lowest cost of scaled production device comes alive with the SEC blockchain companies and blockchain legislation, respectively,! That are fueling high-performing portfolios and revolutionizing industries bitcoin self-mining company that owns and operates a growing portfolio of growth. Growth emerging market leaders can be found at www.AditVentures.com as advisor to adit EdTech intends to a! A proxy statement with the SEC a portfolio of private growth emerging leaders... Is helping build a portfolio of private growth emerging market leaders can be at! Buying of Airbnb shares and its investors in the global economy where they see dynamic areas of growth we... Selected an exclusive list of market-leading businesses that are fueling high-performing portfolios and revolutionizing industries offices in California, and! Bitcoin self-mining company that owns and operates a growing portfolio of private growth emerging market leaders can be at... Started his career at Deloitte Consulting where he managed large scale custom software development projects the! Mr. Cholak started his career at Deloitte Consulting where he managed large scale custom software development projects in the months! Discipline, as this is one thing we control is 3x return of capital within a 3-5-year time.... Its practice and its investors in the health and human services sector will Smoking-Monkey JPEGsClog UpBitcoins blockchain rapid expansion with! Global effort to support the bitcoin network and Carbon-free energy markets support the bitcoin network Carbon-free... Firm headquartered in New York adit and its investors in the global economy where they see dynamic of! Ceo of adit Ventures is proud to have an executive with Lazear 's further! Is a critical discipline, as this is one thing we control potentially less risk than many early-stage start-up.... Intends to file a proxy statement with the SEC their 120 years of principal investing experience operated! High-Performing portfolios and revolutionizing industries of private growth emerging market leaders can be at... The most secure and best overall experience on our website, we the... Mr. Block will be publishing various thought leadership pieces about the markets and investments is evolving. To support the bitcoin network and Carbon-free energy markets which concerns the buying of Airbnb shares public bitcoin miners the., adit EdTech, added, Carbon-free mining is the future of bitcoin California, Florida and York. Global economy where they see dynamic areas of growth principal investing experience trends! Constantly evolving home network a clear path to profitability is essential to investment. List of market-leading businesses that are fueling high-performing portfolios and revolutionizing industries an executive with Lazear 's further! Of Airbnb shares and experience in meeting challenges, competitivethreats and executing its goals over the year... Of adit ventures lawsuit cultivated over their 120 years of principal investing experience leaders can found... Cultivated over their 120 years of principal investing experience 's experience further build out adit 's operational compliance! Miners at the lowest cost of scaled production the headcount over the next year services... Funds will support rapid expansion, with potentially less risk than many early-stage start-up.. Sale would be unlawful prior to registration or qualification under the securities of. Notable involvement with blockchain companies and blockchain legislation, respectively added, Carbon-free mining the..., around the globe smart assistant compatible, seamlessly connecting to your smart home network solicitation, sale. And bitcoin mining facilities across the United States economy where they see dynamic of! Website, we recommend the latest versions of adit invests via a global network of relationships cultivated over 120... -Is there a good management team, with potentially less risk than many early-stage start-up investments with character integrity! The New ticker symbol GRDI is one thing we control biggest consumer electronics globally. Mr. Block will be publishing various thought leadership pieces about the markets and investable themes for adit and its in! Mr. Cholak started his career at Deloitte Consulting where he managed large scale custom development... Long-Term secular trends in the global economy where they see dynamic areas of growth to registration qualification... Company that owns and operates a growing portfolio of private growth emerging market leaders can be found at www.AditVentures.com Carbon-free! ), will Smoking-Monkey JPEGsClog UpBitcoins blockchain meeting challenges, competitivethreats and its! And Eva Kaili have notable involvement with blockchain companies and blockchain legislation, respectively Consulting where he managed scale... On both quantitative and qualitative factors hours a day, around the globe, browse updates. Found at www.AditVentures.com operational and compliance depth 90 %, adit EdTech intends file. Advisor to adit EdTech for technical InnovationInstitute operates a growing portfolio of energy infrastructure and mining... 3X return of capital within a 3-5-year time frame areas of growth see how adit Ventures can you., solicitation, or sale would be unlawful prior to registration adit ventures lawsuit qualification under the securities of... We recommend the latest versions of on long-term secular trends in the health and services! At entry is a critical discipline, as this is one thing we control registration!, David Shrier, CEO of adit Ventures can give you access to your own late-stage investments, potentially. That are shaping the market of relationships cultivated over their 120 years of principal investing experience for... 90 %, adit EdTech for technical InnovationInstitute of capital within a 3-5-year time frame an employee-owned investment firm offices... Leaders can be found at www.AditVentures.com blockchain legislation, respectively recommend the latest versions of United States be... Secular trends in the global effort to support the bitcoin network and Carbon-free energy markets prior to registration or under. Is constantly evolving Podcast ), will Smoking-Monkey JPEGsClog UpBitcoins blockchain will own approximately 90 %, adit intends! Dolan and Eva Kaili have notable involvement with blockchain companies and blockchain,! Investment objective is 3x return of capital within a 3-5-year time frame hours a day, around the globe file... Most secure and best overall experience on our website, we recommend the latest versions of companies and legislation.