New Wave.

#95 - Maximilian Schwarz - Nucleus - "It needs to feel uncomfortable sitting with them"


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🌊 Building Conviction Before the World Sees It

What it takes to back scientific founders before there’s a product, revenue, or proof that the science will work.

We’re joined by Max, Founder & Managing Partner at Nucleus, a pre-seed venture fund backing scientific and technical founders across food, biotech, and industrial innovation.

In this episode, we dive into what it really takes to become the first institutional believer in a company, often before there’s an MVP, customers, or even certainty that the underlying technology can scale.

Max shares the lessons from building Nucleus from scratch, how he learned to evaluate breakthrough science without being a scientist himself, and why the best founders combine technical brilliance with the ability to tell a compelling story.

In our conversation, we covered:

→ Why founder-market fit matters more than market analysis at pre-seed

→ How Nucleus evaluates scientific risk and separates companies from science projects

→ What Max learned from building a fund as a first-time manager

→ Why early investors need to make mistakes to develop conviction

→ The role of advisors, operators, and domain experts in deep-tech diligence

→ What “great” looks like in a scientific founder

→ Why storytelling is an underrated superpower for technical teams

→ The differences between European and American deep-tech founders

→ How Nucleus supports founders beyond capital

→ Why Europe may have a unique advantage in science and industrial innovation

✨ Leave a review and share the episode if this conversation challenged the way you think about growth, innovation, and sustainability.



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New Wave.By Hugo Rauch