Radiant Announces $300M+ Series D Raise

Nucleation Capital is pleased to congratulate Radiant Nuclear and share their December 17th announcement of its close of a $300+ Million Series D financing, led by Draper Associates and Boost VC for a combined $100 million check. Many prior Radiant investors are also re-investing including DCVC, Andreessen Horowitz, Founders Fund, Nucleation Capital and others.

Nucleation Capital is participating in this Series D financing, so all current subscribers will gain access to this investment, which marks Nucleation's third investment into Radiant since the company raised its Series A in 2021. Additionally, this will be the first time that Nucleation has invested three times into a venture, which is a reflection of the company's impressive success knocking down milestones towards the design, development, construction, testing and licensing of Kaleidos, the company's 1 MW transportable power generator.

Radiant is among a small handful of advanced nuclear developers that are making rapid strides towards initial builds and testing of novel reactor designs through a combined DOE/NRC licensing approach. As one of just three companies selected for DOME testing of its reactor in the DOE FEED Program back in 2023, Radiant managed to win the #1 testing slot, beating Westinghouse's eVinci for the right to commence testing in 2026, securing what we think could be an early-mover advantage in the race towards full commercial NRC licensing.

This new capital raise, which came together quickly less than a year after the company's Series C, will support the company's DOME testing and scaling of its commercialization efforts, particularly the design and build-out of Radiant's production factory, R-50, being sited in Oak Ridge, Tennessee on an 85-acre parcel of former Manhattan Project land.

Nucleation Capital, whose Fund I is a long-term investor in Radiant, builds boutique portfolios of top ventures innovating within the advanced nuclear and nuclear-adjacent sectors. There is so much demand across every sector for better sources of clean, reliable energy, we believe that there is a huge opportunity for those ventures like Radiant delivering reliable clean power systems that meet the energy needs in specific niches like data centers, remote villages, industrial centers, universities, hospital campuses, marine transport fleets, forward military bases, vehicle charging stations, large towns and urban district heating systems.

Fund I is designed primarily to provide curated and affordablce access for accredited and other high networth investors. Nucleation's Fund II is designed to provide institutional LPs with boutique access to these rarified clean energy sectors, though skewed slightly later stage.

Nucleation's Fund I operates on a quarterly subscription model and accepts new investors (as limited partners or "LPs") on a rolling basis. Investors select the level and term that works for them—from as low as $10,000 to as high as $1 milion per year—and fund on a quarterly basis to receive a pro rata allocation in each of the investments Nucleation makes each quarter. Learn more about participation in Nucleation's Fund I here.

Published by Ian Brusewitz in Advanced Nuclear, Department of Energy, Electrification, Energy transition, Fission, Future of Energy, Investor activity, NEWS, Nuclear competitiveness, Nuclear financing, Portfolio Venture, Private companies, Pro-nuclear campaign, US competitiveness, US technological leadership

October 26, 2024

Nucleation’s Three Year Overview

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Nucleation Capital Completes its Third Year!

Issues a report on the growing demand, the status of Nucleation Fund I, plans for Fund II and portfolio updates

Nucleation issued its Three Year Report to all Limited Partners (LPs) of the fund in mid-October, following the completion of three full years of investing at the end of Q2-2024.

The report covered the state of the current market, with the recent slate of high-profile power purchase announcements, a review of recent major nuclear purchase announcements by major technology companies, as well as a run-down of key events of the prior three years heralding the current inflection point in the market. Additionally, Nucleation provided its assessment of what is coming down the pipeline for investors in both energy and carbon management demand.

The report further shared more details about Nucleation's plans and strategies for its three year-old evergreen Fund I and for its upcoming, traditional Fund II. Lastly, Nucleation provided detailed and confidential updates on the progress made and current status of each of its twelve Fund I portfolio ventures.

REQUEST A COPY

If you are interested in learning more about either Fund I, our low-cost evergreen fund, now in its fourth year, or our upcoming traditional Fund II, click here to request a copy of our Three Year Report Overview.

Published by Valerie Gardner in Advanced Nuclear, Advanced Nuclear Customers, Carbon emissions, Carbon markets, Climate change, Climate innovation fund, Corporate decarbonization, Energy abundance, Energy transition, Fission, Future of Energy, Investor activity, NEWS, Nuclear competitiveness, Nuclear innovation, Nucleation communications, Solving climate, Venture capital support for nuclear, Zero emission energy

August 23, 2024

Help us expand our deal syndications

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Nucleation Capital is growing!

Seeking help increasing our syndicate deal flow

The level of activity and new venture formation in the areas of advanced nuclear and deep decarbonization innovation is growing rapidly. Nucleation Capital is seeking to expand our reach and connect with as many of these new ventures as we can. We are thus pleased to invite you to work with us to help us expand our syndicate deal flow and earn a share of our upside syndicate compensation. Here's how it works.

You find and connect with a young, growing venture that fits our thesis. If this venture is actively looking to raise capital and has a fundraising pitch deck, you introduce them to us and we will review their deck. If we agree that it is a promising prospect, you can offer to help them raise capital through our pronuclear investor network and syndicate. If they like that idea and agree to give us an allocation of equity, you will then produce a deal memo and we will float a syndicate to help them raise capital.

When investors agree to participate in the syndicate, they pay no management fee but they agree to pay carried interest to the deal sponsor, which is Nucleation Capital. Depending upon your contribution to creating the deal memo and promoting the SPV, we will provide a fair split of the carried interest fee earned from the successful exit of this venture.

There are two ways that you can work with us to bring us potential deals and earn participation on the success of the ventures you bring:

1. Venture Associate: If you are a young professional keen to learn how to help ventures raise capital with some spare time to devote to meeting new teams and making introductions, we will bring you on as a Venture Associate. You'll get training, guidance on how to find and connect with new ventures, and invitations to participate in due diligence sessions as well as other opportunities to enage with our syndicate team. We'll help you build your skills in this area and show you how to evaluate new ventures.

2. Ventury Ally: Perhaps you are a bit too busy to take on the task of writing deal memos but you are well connected, want to help worthy ventures raise capital and would like to make introductions. We invite you to join our team as a Venture Ally and we will delegate syndicate prep tasks to another member of our team. We would welcome your help connecting us to new teams working in our sectors through simple introductions.

This is an incredible opportunity for those keen to learn the ins and outs of the venture capital industry and for those who are deeply connected into the start-up world to help to help build stronger ventures.

Learn more here about this opportunity to join Nucleation's syndication team.

Published by Valerie Gardner in Advanced Nuclear, Capital reallocation, Carbon emissions, Climate change, Energy abundance, Energy transition, Environmental support for nuclear, Fission, Future of Energy, Investor activity, NEWS, Nuclear competitiveness, Nuclear innovation, Nucleation communications, Solving climate, US competitiveness, US technological leadership, Venture capital support for nuclear, Zero emission energy