November was fun. We ate too much turkey but played the perfect amount of Padel. Please keep reading to see what we've been up to.

In this issue:

Highlights from Our 2nd Annual Female Founders & Funders Event
Portfolio Update
What We’re Reading + Content Recap
Community Job Board & Opportunities
Nucleus Merch + Closing Out the Year
Event Announcement: Women Shaping NYC — December 15th

Nucleus Community Highlight

Our 2nd Annual Female Founders and Funders event was a huge success, a packed room filled with energy, generosity, and women actively shaping what’s next.

Thank you to everyone who showed up, shared openly, and helped make it one of our most meaningful gatherings of the year.

To build on that momentum, we’re excited to announce our next community moment, “Women Shaping NYC”, a continued celebration of the women driving innovation, leadership, and impact across the city.

❝

Event Details:
Women Shaping NYC
Date: Monday, December 15th
Time: 5:30–7:30 PM
Location: Kobrick Coffee, West Village

And we’re just getting started, with upcoming Nucleus events across NYC, LA, Vegas, Miami, and Boston, stay tuned for more ways to connect with the community.

Reserve a Seat

Portfolio Update

xAI is raising a $15B Series D at a $230B valuation. Nucleus Ventures first invested at the Series C (~$45B valuation, Sept ’24) and added exposure via secondaries at ~$55B. This new round accelerates xAI’s infrastructure and compute build-out, placing it among the most valuable private AI companies globally.

In November, we met with ~200 founders and selected two new investments:

Packsmith

Backed by Palmer Luckey's family office, Packsmith is an AI-native fulfillment replacing legacy 3PLs and tools like Cart.com, ShipStation, and Shippo. Converts underused real estate into micro-fulfillment hub

Traction:

$5.8M contracted ARR
$3.8M Oct run-rate revenue
240% YoY Q3 growth
100% retention / 141% NDR
Clients include Nike, Luna Bronze, Togethxr
New mobile app (US + AU; global next) enabling anyone to operate an AI-powered node
Backed by Bessemer, Interplay, Maiora, NAR®, TMG Partners, Edward Norton
Limited allocation remains.

Beam

Drives top-line growth by replacing margin-draining discounts with gamified social impact. Shoppers direct ~1% of each purchase to a vetted nonprofit.

Traction:

170+ brands (Unilever, Nestlé Health Sciences, Tarte, Kenneth Cole)
ACVs doubled to $64.5K
$8.5M CARR / $5.5M ARR (3× YoY)
91% margins, 120% NDR, 5-month payback
Each $1 Beam earns → $4 to nonprofits → $60 incremental brand revenue
Expanding into embedded fintech
Backed by Index + operators from Attentive, WPP, MeUndies

Nucleus Ventures Portfolio Snapshot

Let’s connect

_{Explore partnership or investment opportunities with Nucleus Ventures}

Partner Spotlight

Nexus VC Legal

Nexus VC Legal supports founders, fund managers, and investors with expert legal guidance built specifically for venture ecosystems.

Their team works across fund formation, venture financing, governance, and compliance, helping clients move faster with confidence.

Have you worked with Nexus VC Legal or consulted with their team, hit reply and share a quick insight or experience. We’re gathering community recommendations for future spotlights.

No direct experience yet, reply and tell us which legal, fund, or partner firms you believe more founders should know about.

Visit Nexus VC Legal

Help us curate the next spotlight, reply with a partner or firm you believe more founders should be aware of.

Content Recap

We’re bringing PADEL to CES in January. CES is chaos. We’re opting out for part of it. Instead, we’re hosting a padel mixer in Las Vegas with Atlas Brands, Klay Media and Alive Print Shop. Good competition and good people. If you’re a founder, operator, investor, or just someone who likes meeting sharp people without the conference circus… this is your lane. Spots are limited. DM me “PADEL” if you want in.

www.linkedin.com/posts/jake-fleshner_were-bringing-padel-to-ces-in-january-activity-7399150776742371328-qaSN?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAm5SfQBc7-7zcxUAGcV_9pHXcNlzty9Mx8

Nucleus has always been built on connection. That’s why we’re proud to support mental health initiatives making a difference. Last week in NYC, Sprout Society hosted a mental health focused event… | Michael Axman

Nucleus has always been built on connection. That's why we're proud to support mental health initiatives making a difference. Last week in NYC, Sprout Society hosted a mental health focused event that brought those values to life. The numbers tell the story: - 57% of young adults living with depression do not receive support - 18 million adults face depression in any given year - 27% of young people report feeling very or fairly lonely Community matters. Showing up matters. We’re grateful to support a foundation that is committed to real community care and conversations that make a difference. Proud to play a small part in something with a much bigger impact. Danielle, Jodi, Mitchell, Maxwell, Nikki, Harrison

www.linkedin.com/posts/axmanmichael_nucleus-has-always-been-built-on-connection-activity-7399099586637840384-KyOr?utm_source=share&utm_medium=member_desktop&rcm=ACoAAAm5SfQBc7-7zcxUAGcV_9pHXcNlzty9Mx8

The Nucleus Job Board

Job opportunities in our network. If you are interested in one of these opportunities, respond to this email and let us know

New Vintage Partners
New York, NY
Investment Analyst

Light Labs
Austin, TX (In-person, relocation offered)
Account Executive

TicketKings
Miami, FL
Head of Quant

SendtoWin
United States (Remote)
Strategic Account Manager (x2)

Old Tom Capital
Miami, FL
Chief of Staff

Dropout Companies
Nashville, TN
Personal Assistant

Torch Collective
Nashville, TN (On-site)
CTO / VP of Engineering

Have a job to share? Let us know by replying to this email.

Upcoming Events

Founder Dinner [Hosted by Rho x Nucleus] · Luma

Join us for an intimate evening hosted by Nucleus and Rho, bringing together a highly curated group of people for meaningful conversation and connection. Over…

luma.com/z4ds3i69

Women Shaping NYC: Coffee & Cocktails Holiday Celebration

host.therumor.com/event/guest-form/p/365311

#CES2026 x The Nucleus Breakfast · Luma

Hello Nucleus Community! Join us for a special breakfast event where innovation meets connection. This informal gathering is designed to foster meaningful…

luma.com/jorm3w7m

Padel Tournament (The Nucleus Network x Klay Media) · Luma

Join us for an energizing afternoon on the court, hosted by The Nucleus Network and Klay Media—a lively padel tournament crafted for founders, leaders,…

luma.com/kx2h5n8w

Padel Mixer at CES Las Vegas

host.therumor.com/event/guest-form/p/380408

Looking Ahead

December is here, which means we’re pretending to slow down while actually speeding up again in January. Thank you for reading... more fun (and probably more padel) coming soon.

The Nucleus Newsletter Edition #18 — December at The Nucleus Network