Nucleation is expanding our syndication team!
Nucleation Capital is the first pronuclear venture fund that is working to nucleate a carbon-managed economy. Our focus is democratizing investment into ventures developing advanced low-carbon technologies including next-generation nuclear and carbon capture, recycling and utilization. We are seeking to broaden our deal flow by recruiting Venture Associates and other independent allies to assist with finding and syndicating nuclear or carbon-related deals on a part-time / remote basis.
The compensation
Venture Associates and allies are primarily incentivized for success and not paid on hourly or weekly basis. For any new deal that you introduce to Nucleation that we successfully syndicate, you will earn a $250 cash success fee. Additionally, you will be given a share of the carried interest (“carry”) earned on those deals that you syndicated which return proceeds to our LPs.
Carry is a standard component of venture capital success fees. It is paid out after the underlying venture achieves liquidity, however many years that may take. Your percentage of the total deal carry earned will reflect your relative contributions to getting the deal done. Thus, the more deals you do, the more you’ll learn and the greater your share of the carry. To give you a sense of how carry might work, here’s an example of how a successful deal might play out.
EXAMPLE OF CARRIED INTEREST EARNED:
Earning carried interest is a contractual right, not direct equity ownership. It is a conditional right to a share of future proceeds in excess of the invested principal. Here’s how it might work, given the below assumptions:
- You bring us a deal in Venture A. Together, we syndicate that deal and raise $200,000 for Venture A at a $20,000,000 post-money valuation.
- Assuming standard carry rates, Nucleation is entitled to a 20% carried interest on this $200,000 SPV investment.
- Assuming you contriibuted 50% of the work, we might agree to give you 50% of our earned fee upon the closing.
- Venture A is successful and gets acquired by Corporation B, which is a public entity. In that time, the value of Venture A has grown by 10x (including dilution). The value of the equity held by the syndicated SPV is now worth $2 million.
- After the holding period, Nucleation liquidates the investment held by the SPV and first repays the investors their principal of $250k, which leaves $1.75 million in net profits.
- The investors receive 80% of the net profits and get $1,400,000 as their return on investment.
- Nucleation gets 20% and we receive $350,000 as our carried interest share.
- Per our deal with you, you would get half, earning $175,000.
Serving as a Venture Associate or informal ally provides numerous interim benefits, including valuable experience and network building. You’ll get a front row seat to engaging with venture founders both through the deals you generate, plus occasional opportunities to assist on other deals. This role is great for someone who loves innovation and wants to build investment acumen by assessing deals and helping to raise capital for the best early-stage ventures they can find.
**IMPORTANT: This is a part-time, independent contractor role that does not provide benefits. If you earn more than $600 in fees, you will get a 1099 form and be responsible for paying your own taxes.**
Background requirements
We anticipate that this role will appeal to individuals who have developed a certain amount of technical expertise but who have little or no experience in investing or running a business. Candidates will likely include those working in or around the nuclear or energy industry, the national labs, or who have nuclear, chemical or mechanical engineering skills. You may, in fact, know painfully little about the world of business, finance, entrepreneurship, or venture investing but you are curious and want to know more. Plus, you are a self-starter who perhaps has supported others who were considering launching a venture or thought about doing so yourself.
Skill requirements
For Nucleation Capital to be able to float a syndicate, there are many steps involved: A) finding the venture, B) connecting with the founding team, C) learning about their tech, market, business and financing needs, D) assessing the venture for suitability and success, E) doing deeper diligence and verifying information, F) drafting a comprehensive deal memo, G) forming the syndicate and H) inviting investors to review it and promoting it to our network. We don’t expect Venture Associates to know how to do all these things at the get-go: we will train you. But the best candidates will have the following basic skills:
- Deep interest in, curiosity and willingness to learn about technology, innovation, venture capital, and entrepreneurship.
- An ability to take the initiative to attend venture events, connect with founders, ask perceptive questions and build a rapport, so that deeper conversation and exploration about a venture can happen.
- Strong writing and analytic skills and an understanding of how to create a compelling narrative (such as through experience writing articles, blogs, memos, or essays) around new technologies and markets.
- Self-starting and motivating, high fidelity to detail and accuracy and an ability to complete assignments independently and expeditiously.
- Ability to work both independently as well as part of a team, ask questions and follow through to accomplish broader goals and objectives.
- A willingness to learn about the AngelList platform and its protocols is sufficient. Extra credit for experience with AngelList, past angel or syndicated investments.
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