Construct Capital is an early-stage venture capital firm founded in 2020 and based in Washington, D.C. The firm focuses on investing in entrepreneurs who are reimagining foundational industries such as manufacturing, logistics, transportation, defense, and energy.
Construct Capital targets seed and Series A stage technology startups that aim to transform critical infrastructure and foundational industries. The firm is particularly interested in companies leveraging emerging technologies like artificial intelligence (AI), robotics, and automation to modernize and enhance efficiency within these sectors.
In March 2025, Construct Capital announced the closing of its third fund, securing $300 million in capital commitments. This oversubscribed fund attracted a strong institutional base of limited partners, including endowments, foundations, large family offices, and fund-of-funds. With this new fund, Construct Capital plans to invest between $2 million and $10 million per startup, aiming to support approximately two dozen companies.
Leadership
Construct Capital was co-founded by General Partners Dayna Grayson and Rachel Holt. Dayna Grayson previously served as a partner at New Enterprise Associates, focusing on investments in manufacturing and automation. Rachel Holt was an early employee and senior executive at Uber, bringing extensive operational experience to the firm.
Investment Strategy
The firm's strategy centers on revitalizing foundational industries by backing startups that apply modern technologies to sectors traditionally resistant to change. Construct Capital emphasizes a concentrated portfolio approach, investing meaningful time and resources to support each company.
Notable Investments
Construct Capital's portfolio includes companies such as:
