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Construct Capital is a Washington, D.C.-based early-stage venture capital firm that invests in technology and software startups reimagining foundational industries such as manufacturing, logistics, defense, transportation, and energy. The firm focuses exclusively on seed and Series A funding rounds, typically writing initial checks ranging from $2 million to $10 million for its investments. In March 2025, the organization closed its oversubscribed third fund with $300 million in capital commitments, which it plans to use to support approximately two dozen new startups. The firm has backed more than a dozen portfolio companies across the industrial, automation, and infrastructure sectors, including aerospace manufacturer Hadrian, logistics provider Veho, automotive technology firm Kinetic, space-based solar company Aetherflux, and robotics developer Chef Robotics. Construct Capital was founded in 2020 by former New Enterprise Associates partner Dayna Grayson and Rachel Holt.
Key people at Construct Capital.
Construct Capital is an early-stage venture capital firm focused on investing in founders who are transforming foundational industries such as manufacturing, logistics, transportation, and energy through advanced technologies like AI and robotics. Their mission is to address decades of underinvestment in these sectors, which are critical to the economy, by backing startups that modernize and digitize these traditionally industrial fields. Managing approximately $750 million in assets, Construct Capital primarily invests in Seed and Series A rounds, supporting companies that aim to create long-term economic resilience and innovation in foundational industries[1][2][3][5].
Founded in 2020, Construct Capital was co-founded by Rachel Holt and Dayna Grayson, who brought deep experience in industrial technology investing and venture capital operations. Dayna Grayson, previously a partner at NEA, had a track record of backing transformative industrial tech companies like Desktop Metal and Onshape. Kirby, another key partner, contributed extensive operational and investment experience from his leadership roles at ACME Capital and Bay City Capital. The firm evolved from a focus on industrial sector transformation to a broader mission of reimagining foundational industries with modern software and technology, emphasizing early-stage investments[1][2][3].
Construct Capital rides the wave of industrial digitization and the resurgence of innovation in foundational sectors long neglected by venture capital. The timing is critical as incumbent industrial corporations have become slow to innovate, creating a large opportunity for startups to modernize these sectors with software, AI, and robotics. This transformation supports broader economic resilience and domestic self-reliance, addressing supply chain vulnerabilities and infrastructure challenges. Construct Capital’s investments help catalyze a new era of industrial innovation, influencing the broader ecosystem by proving the viability and growth potential of tech-driven foundational companies[1][3][5].
Looking ahead, Construct Capital is poised to deepen its impact by continuing to back bold founders who can build enduring companies that reshape foundational industries. Trends such as AI integration, automation, and sustainability in manufacturing and logistics will shape their investment focus. As these sectors evolve, Construct Capital’s influence is likely to grow, potentially driving public market transformations and setting new standards for industrial innovation. Their commitment to foundational industries positions them uniquely to capitalize on and accelerate the next wave of economic modernization[1][3][5].
Key people at Construct Capital.
Construct Capital has more than 26 tracked investments across 22 companies. The latest tracked deal is $26.0M Series A in BackOps AI in March 2026.
