# Construct Capital

> Construct Capital is a Washington, D.C.-based early-stage venture firm founded by Dayna Grayson and Rachel Holt in 2020. It leads or co-leads concentrated Seed and Series A investments in technology companies rebuilding foundational industries such as manufacturing, logistics, mobility, defense, energy and critical infrastructure, pairing Grayson's industrial investing record with Holt's experience scaling Uber's operations.

- **Founded:** 2020
- **Headquarters:** Washington, D.C., United States
- **Founders:** Dayna Grayson (Co-founder and Managing Partner), Rachel Holt (Co-founder and Managing Partner)
- **Team size:** Approximately 18 employees in supplied company data; LinkedIn displayed 19 employees in 2026.
- **Products:** Early-stage venture investing, Select later-stage capital, Company-building support
- **Notable:** Closed an oversubscribed $140 million debut fund after launching during the first year of the pandemic., Raised $300 million in 2022 across a $225 million early-stage fund and a $75 million later-stage opportunity vehicle., Closed a $300 million third fund at its stated hard cap in March 2025.

## Products & services

- **Early-stage venture investing** — Leads and co-leads Seed and Series A rounds in technology companies serving manufacturing, logistics, mobility, defense, energy and other foundational industries.
- **Select later-stage capital** — A $75 million opportunity vehicle announced alongside Fund II supports selected portfolio companies at later stages.
- **Company-building support** — A concentrated portfolio model gives founders access to the firm's investing, operating, recruiting, communications and firm-building experience.

## Achievements

- Closed an oversubscribed $140 million debut fund after launching during the first year of the pandemic.
- Raised $300 million in 2022 across a $225 million early-stage fund and a $75 million later-stage opportunity vehicle.
- Closed a $300 million third fund at its stated hard cap in March 2025.
- Built a portfolio spanning advanced manufacturing, industrial software, delivery, mobility, workforce technology, energy and defense.
- Backed Hadrian, whose AI-powered factory expansion and later financings became a prominent example of the reindustrialization thesis.
- Developed a published 'Sense, Think, Act' framework for evaluating AI across manufacturing data, reasoning and physical execution.

## Latest updates

- **2026-06** — Construct led Podium Automation's $18 million Series A to modernize industrial control-panel design and production.
- **2026-06** — The firm announced its Series A investment in subsea geothermal developer Endurance Energy.
- **2026-05** — Construct participated in Cowboy Space Corporation's $275 million Series B for orbital energy and compute infrastructure.
- **2026-04** — Construct published its investment case for Shade, a cloud file platform aimed at media-heavy and AI-generated workflows.
- **2026-02** — Camila Key Saruhashi was promoted to partner.
- **2025-03** — Construct closed Fund III at $300 million, bringing announced capital across its three fundraising cycles to $740 million.

## Links

- Website: https://www.constructcap.com
- LinkedIn: https://www.linkedin.com/company/constructcap
- Twitter/X: https://twitter.com/constructcap

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Profile page: https://yespress.io/construct-capital
Published by YesPress — https://yespress.io
Last updated: 2026-08-15