Raising capital looks clean on Twitter. It isn’t. In this episode, Nelson Mills walks through what it actually took to raise $76.5M as a first-time founder, from a fast pre-seed that gave him false confidence, to a $13M seed that reset expectations, to a $60M Series A that forced real operational discipline.
If you’re fundraising or think you will be soon, this episode is a reality check. Nelson explains why raising money is not success, how being a former VC helped and hurt him, and what founders consistently misunderstand about the process.
👉 Watch the full episode to hear what he’d do differently if he had to raise again tomorrow.
Here’s what you’re in for:
00:00 Intro
00:06 From VC intern to founder
01:18 Finding the opportunity in underwater defense
02:56 Technical challenges & innovations
07:23 Building investor relationships
10:57 Inside the seed round
23:17 Hiring & talent strategy
26:31 Competing in defense tech
28:24 Customer-driven product thinking
29:29 Why lobbying starts on day one
32:49 Navigating government sales
34:23 Capital strategy & funding options
37:28 Scaling hardware & supply chain
44:18 Building a company with family
46:00 Nelson’s advice for defense-tech founders
ABOUT Nelson Mills
Nelson Mills is a first-time founder who raised $76.5M in under two and a half years, including a $60M Series A. Before building his company, Nelson worked in venture capital, gaining firsthand insight into how investors think and what founders often misunderstand. His journey from VC intern to CEO offers a rare, unfiltered look at fundraising from both sides of the table.
Get in touch with Nelson:
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💸 - Access working capital fast - Explore options for free
😍 - Free list of AI Recommended VCs - Apply for free
👨💻 - Free fundraising coaching session - Schedule 15 minutes with us
📝 - Playbook for Negotiating Term Sheets - Download it Here
💽 - Playbook for Setting Up and Sharing Your Data Room - Download it Here
✉️ - Playbook for Sending Investing Updates - Download it Here
📞 - Guide to Nailing Your First Calls With Investors - Download it Here
📆 - Your 12-month Fundraising Plan- Download it Here
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