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Construct Capital is an early-stage venture capital firm founded in 2020 by Dayna Grayson and Rachel Holt. Based in the United States, the firm focuses on investing in companies that are revitalizing foundational industries such as manufacturing, logistics, defense, and energy. The founders recognized a significant gap in investment within these sectors, which have historically been overlooked despite their critical importance to the economy.
Since its inception, Construct Capital has rapidly scaled its assets under management (AUM) to over $750 million across three core funds. The firm has established a strong presence in the venture capital landscape, emphasizing technology-driven transformation in industries that represent over $10 trillion of the U.S. GDP. Construct Capital's mission is to support the application of modern technologies to enhance productivity and efficiency in these foundational sectors.
Construct Capital has a concentrated portfolio strategy, typically investing in around 24 companies per fund. This approach allows the firm to provide hands-on support and real-world expertise to its portfolio companies, ensuring they have the resources needed to succeed in their respective markets.
Construct Capital invests in early-stage companies that are transforming foundational industries through technology. The firm targets sectors critical to the economy, including logistics, energy, defense, industrial, and software as a service (SaaS). Their investment strategy emphasizes the need for innovation in industries that have historically been neglected and underfunded, particularly in areas such as supply chain, critical infrastructure, production, and energy transition.
The firm typically invests between $2 million and $10 million in Seed to Series A rounds, focusing on a limited number of companies to provide both financial investment and operational expertise. Construct Capital seeks to partner with founders who are committed to driving change in their industries, leveraging modern software, cloud infrastructure, automation, robotics, and artificial intelligence to unlock significant value.
Construct Capital's core conviction is that incumbent industrial corporations have become too large to innovate effectively, often stuck in outdated operational practices. By investing in early-stage companies that challenge these norms, the firm aims to catalyze a wave of technological advancement across foundational industries.
Construct Capital's portfolio includes a diverse range of companies that are making significant strides in their respective fields. Notable portfolio companies include:
This portfolio reflects Construct Capital's commitment to investing in companies that are not only technologically advanced but also address critical needs within foundational industries.
Dayna Grayson: Co-founder & Managing Partner. Grayson is a former partner at NEA and an early investor in Desktop Metal (NYSE: DM), Onshape, and Framebridge. Her expertise lies in deep tech investing and operational scaling.
Rachel Holt: Co-founder & Managing Partner. Holt previously served as an executive at Uber, where she led the US/Canada Rides business and the New Mobility division. Her background includes extensive experience in scaling operations in high-growth environments.
Eugene Wan: Partner. Wan is an early-stage investor and was part of the founding team at MIT's The Engine, focusing on technology commercialization.
Camila Key Saruhashi: Partner. Saruhashi was the Head of Operations at Nubank and has experience at QED Investors and Redpoint e.ventures, bringing operational expertise to the team.
Kirby Bartlett: COO & CFO. Bartlett has 25 years of experience in venture capital, having managed operations at ACME Capital and Bay City Capital.
Joachim Vaturi: Investor. Vaturi was previously an investor at America's Frontier Fund, focusing on early-stage technology investments.
Leland Chamlin: Investor. Chamlin co-founded Mammoth and served as Chief of Staff at Bowery Farming, bringing a diverse background in operations and investment.
Emily Prechtl: Chief of Staff & Investor Relations. Prechtl plays a key role in managing investor relations and operational support.
Ali Gleason: Operations. Gleason has six years of experience as an Executive Assistant at Uber, contributing to the firm's operational efficiency.
Founders interested in pitching to Construct Capital should send their proposals via email to d@constructcap.com. The pitch deck should include a clear overview of the business, market opportunity, competitive landscape, and financial projections.
Construct Capital prefers concise and focused presentations that highlight the unique aspects of the startup and its alignment with the firm's investment thesis. Response times may vary, but founders can expect feedback within a few weeks.
In March 2025, Construct Capital closed its third fund, raising $300 million to continue its focus on transforming foundational industries through technology.
In April 2022, the firm successfully raised $300 million for its second fund, which targets early-stage investments in sectors critical to the economy.
Construct Capital has been featured in multiple articles across platforms such as TechCrunch, BusinessWire, and Yahoo Finance, highlighting its unique approach to investing in neglected industries.
What are Construct Capital's investment criteria?
Construct Capital focuses on early-stage companies within foundational industries such as logistics, energy, defense, and industrial sectors. They look for companies that leverage technology to drive transformation and innovation in these areas.
How can founders pitch to Construct Capital?
Founders can reach out to Construct Capital via email at d@constructcap.com. It is recommended to provide a clear overview of the business model, market opportunity, and how the company aligns with Construct Capital's focus areas.
What makes Construct Capital different from other VC firms?
Construct Capital emphasizes a hands-on approach, partnering with a limited number of companies to provide not just capital but also operational expertise and support. Their focus on foundational industries that have been historically neglected sets them apart in the venture capital landscape.
What is the typical check size for investments?
Construct Capital typically invests between $2 million and $10 million in Seed to Series A rounds, allowing them to support companies at critical stages of their growth.
What is the geographic focus of Construct Capital?
The firm primarily invests in companies based in the United States, targeting sectors that are vital to the U.S. economy.
What kind of post-investment involvement can founders expect?
Construct Capital provides operational support, mentorship, and access to a network of industry experts to help portfolio companies scale effectively. They are actively involved in guiding their companies through growth challenges.
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