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. Jon will work with Adit in launching a new early stage venture platform, to complement existing Adit offerings. Mr. Cholak will be based out of Austin, Texas. Please visit www.aditventures.com for further information. "Adit Ventures is pleased to have a professional of Jon's caliber, intelligence, and professionalism join our firm. He brings in-depth experience at Intel, management consulting experience plus a top-decile performance record to Adit's team of 8 professionals." Said Eric Munson, Founder & CIO of Adit Ventures. "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. 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.
Mr. Cholak has deployed over $90M in early stage capital across 15+ companies, with multiple successful exits. 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. Mr. Cholak started his career at Deloitte Consulting where he managed large scale custom software development projects in the health and human services sector. During his career, Mr. Cholak has held various technology and investment positions at Bank of America, Deloitte Consulting, Intel, and USAA. He holds a B.S. from New York University and an MBA from The University of Texas at Austin.
About Adit Ventures
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 economy, 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.
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. Adit's investment objective is 3x return of capital within a 3-5-year time frame. Adit invests via a global network of relationships cultivated over their 120 years of principal investing experience. 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. Portfolio companies include Airbnb, Cohesity, Decision Sciences, ESME Learning, Flexport, Klarna, Netskope, Palantir, SpaceX and Turo among others. Adit's invested in some of the world's leading companies with exits in GoPro, Spotify, Snap and Lyft. Please visit www.aditventures.com for further information.