Construct Capital, an early stage venture capital firm investing in startups that apply technology to sectors such as manufacturing, transportation and defense, has shut down its third fund with a $300 million capital commitment.
The Washington, D.C.-based company raised a $225 million second fund in 2022 and a $75 million capital pool for late-term businesses.
While many emerging managers struggle to raise fresh funds, Crustrive’s Capital Haul highlights the interest of institutional investors in supporting VCs focused on areas of growth in defense technology, as well as driving forward to increase domestic manufacturing.
The company was founded in 2020 by former NEA partners Dana Grayson and Rachel Holt. He was previously an executive at Uber. Construct is investing in startups such as Hadrian, which uses software to manufacture parts for the defense and aerospace industry, and is invested by Veho, a company specializing in last-mile e-commerce distribution from distribution centers to customers.
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