The nephew of Richmond premiership utility Josh Caddy, Nate was drafted by the Bombers after they traded up with Geelong to select the Northern Knights product with the No. 10 choice.
"I'm so excited, I just can't wait to get started, it's been a lifelong dream for me," Caddy said on Monday night addressing the media after he'd had his name called.
In dealing ahead of the Cats, Essendon surrendered its first-rounder - which turned out to be Pick 11 after two earlier matched Suns Academy bids - as well as an early second-rounder, Pick 31.
"No, no, [I had] no clue at all (about the trade), I thought I was going to Geelong, to be honest," continued Caddy, explaining that he was kept in the dark about Essendon's trade-up plans to nab him.
"Two minutes left (on the clock), [Essendon] put the trade through. [I thought] 'oh, here we go' [and the] cameras started rolling then."
While Caddy is a forward by trade, he made the unprecedented venture into the middle of the ground this year, showcasing his tantalising versatility and x-factor.
"I've never played midfield in my life, to be honest, before this year, so it was kinda something that kinda just came about," he said.
Asked about his new footballing home, the 18-year-old praised Essendon's young list and declared his intention to add to it.
"I feel like the list is really good, they [just missed] out on finals this year, but I feel like their list can get a lot better, and hopefully I can contribute to that," Caddy stated.
Caddy already has connections with Bombers imports Jade Gresham and Xavier Duursma, and will look to integrate himself with the remainder of the playing group at Tullamarine when he imminently joins the fray for pre-season training.