Construct Capital, a venture capital firm specializing in early-stage investments in technology applications across sectors such as manufacturing, transportation, and defense, has announced the closure of its third fund, securing $300 million in capital commitments.
Based in Washington, D.C., the firm had previously raised a $225 million second fund and a $75 million capital pool for later-stage companies in 2022.
In a landscape where many emerging managers are facing challenges in raising new funds, Construct Capital’s successful capital raise highlights the interest from institutional investors in supporting venture capital firms that are concentrating on the expanding area of defense technology. This interest is driven by the current geopolitical climate and the previous administration’s initiative to boost domestic manufacturing.
Construct Capital was established in 2020 by Dayna Grayson, formerly with NEA, and Rachel Holt, who previously held an executive position at Uber. The firm has invested in startups such as Hadrian, which leverages software to produce parts for the defense and aerospace sectors, and Veho, a company focused on providing last-mile e-commerce delivery services from distribution centers to consumers.