E442: Nelson Mills on Building a $100 Billion Company, the China Threat, and the Future of War

Highlights:

• Why Nelson left venture capital to become a founder
• Why undersea autonomy is finally reaching an inflection point
• The navigation and communications problems that make underwater technology so difficult
• How Vatn raised its first $2 million pre-seed round in just 30 days
• Why hardware founders should start with the smallest viable version of their product
• Vatn’s plan to become a focused defense prime for the undersea market
• What Anduril proved about building defense technology differently
• How lower-cost underwater vehicles could change deterrence for smaller countries
• The biggest hiring lesson Nelson learned as a founder
• Why founders should always be building relationships for their next round

Guest Bio: 

Nelson Mills is the Founder of Vatn Systems, a defense technology company building autonomous underwater vehicles. After growing up on the water and spending roughly nine years operating at startups, Nelson moved into venture capital before leaving to build Vatn.

Sponsors:

Juniper Square:

Juniper Square is trusted as the operations partner by more than 2,300 private markets GPs worldwide, connecting technology, data, and fund administration services to help GPs fundraise efficiently, streamline operations, and improve the investor experience. Their unified platform centralizes data and connects LPs and GPs across every workflow, including fundraising, investor onboarding, compliance, treasury, and reporting. Today, more than $1 trillion in LP capital is managed through Juniper Square. For more information, please visit https://www.junipersquare.com/howiinvest.

AlphaSense:

AlphaSense is the AI-powered market intelligence platform trusted by 85% of the S&P 100, helping investment professionals make faster, more confident, data-driven decisions. Built for hedge funds, asset allocators, private venture capital firms, and investment bankers, AlphaSense uses advanced AI and powerful search across premium proprietary content to surface the insights that matter most—before the market moves. Elevate your research and stay ahead of the competition. Visit https://www.alpha-sense.com/howiinvest to learn more.

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LinkedIn:https://www.linkedin.com/in/millsn/

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Disclaimer:

This podcast is for informational purposes only and does not constitute investment, financial, legal, or tax advice. Nothing in this episode should be interpreted as an offer to buy or sell any securities or to participate in any investment strategy. All opinions expressed by the host and guests are their own and do not represent the views of Weisburd Pierce. Participants may hold positions or have financial interests in the companies, funds, or investments discussed. Any references to specific investments are for illustrative purposes only. Investing involves risk, including the potential loss of capital. Past performance is not indicative of future results, and any forward-looking statements are subject to risks and uncertainties. Any third-party data or opinions have not been independently verified. Listeners should conduct their own research and consult their own advisors before making any investment decisions.