Construct Capital, a venture capital firm based in Washington, DC, has announced the closure of its third fund, raising US$300 million in capital commitments.

The firm focuses on early-stage investments in manufacturing, transportation, and defense technology.

This fund follows a successful 2022 funding round, which included a US$225 million second fund and a US$75 million pool for later-stage investments.

Construct Capital was founded in 2020 by former New Enterprise Associates partner Dayna Grayson and ex-Uber executive Rachel Holt.

The firm has invested in companies such as Hadrian, which develops software for manufacturing defense and aerospace components, and Veho, a last-mile delivery service for e-commerce.