DFX Intelligence
Venture Capital Intelligence
Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.
Firms / Construct Capital Management, LLC
Construct Capital Management, LLC
Construct Capital is an early stage venture capital firm, investing in founders who are reimagining the foundational industries of our economy.
both early and growth/opportunity families, reported GAV $496M
Importance
42
elevated
Active deployment
55
elevated
Emerging
0
low
Completeness
81
high
Freshness
100
high
Research priority
18
moderate
Identity and regulatory footprint
- Headquarters
- Washington, DCadviserinfo.sec.gov
- Office address
- 3516 CONNECTICUT AVE NW, FLOOR 3, Washington, DC, 20008adviserinfo.sec.gov
- Business phone
- 202-503-4771adviserinfo.sec.gov
- SEC adviser type
- exempt reporting adviseradviserinfo.sec.gov
- SEC exemption claimed
- venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
- Latest Form ADV
- Mar 26, 2026
- Private funds reported
- 8 (8 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $895Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- business email
- ali@constructcap.comconstructcap.compublished by the subject
- business email
- emily@constructcap.comconstructcap.compublished by the subject
- business email
- camila@constructcap.comconstructcap.compublished by the subject
- business email
- grace@constructcap.comconstructcap.compublished by the subject
- business email
- eugene@constructcap.comconstructcap.compublished by the subject
- business email
- d@constructcap.comconstructcap.compublished by the subject
- business phone
- 202-503-4771adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
43 observed deals
Stated (the firm’s website)
- Sectors
- ai, fintech, consumer, climate, energy, hardware, space, defense, cybersecurity, edtech, logistics, industrial
- Stages
- pre seed, seed, early
- Geography
- boston, canada, colorado, global, latin america, los angeles, north america, texas
- Check size
- not stated; DFX does not estimate checks from round sizes
- Self-described
- venture capital
Observed (from deals on record)
Stage at participation
series a 50%series b 50%
Stage at first entry
series a 50%series b 50%
Sectors
unknown 95%Other Technology 5%
lead rate 50%follow-on rate 0%new logos, 12 months 43
site says seed/early; 50% of first entries on record are Series B or later
Funds and vehicles
8 reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Construct Capital III, L.P. | Fund | 2025 form d first sale | Newly closed | unknown | unknown | $300M of $300M | Mar 31, 2025 |
| Construct Capital Select Fund I, L.P. | Growth fund | 2023 adv first reported | Active deployment | $75.2M Mar 20, 2024 | 30 | $0 | Dec 21, 2021 |
| Construct Capital II Operators Fund, L.P. | Fund | 2023 adv first reported | Active deployment | $5.0M Mar 20, 2024 | 29 | $0 of $5.0M | Mar 30, 2022 |
| Construct Spv-Vm, LLC | SPV or co-invest vehicle | 2023 adv first reported | Active deployment | $1.6M Mar 20, 2024 | 1 | unknown | unknown |
| Construct Capital II, L.P. | Fund | 2022 form d first sale | Active deployment | $215M Mar 20, 2024 | 58 | $220M of $220M | Mar 31, 2022 |
| Construct Spv-Vh, LLC | SPV or co-invest vehicle | 2022 form d first sale | Active deployment | $5.0M Mar 20, 2024 | 2 | $5.9M | Jan 28, 2022 |
| Construct Capital I, L.P. | Fund | unknown | Unknown | $195M Mar 20, 2024 | 73 | $0 | Jul 6, 2020 |
| Construct Capital III Operators Fund, L.P. | Fund | unknown | Fundraising | unknown | unknown | $0 of $5.0M | May 6, 2025 |
GAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.
Investment team
4 current, 0 departed
Dayna Grayson
Managing partnerCo-Founder and Managing Partner
Dayna Grayson
PartnerManager · since Jan 1, 2020
Rachel Holt
PartnerManager · since Jan 1, 2020
Kirby Kevin Bartlett
Platform and operationsCoo & Cfo · since Oct 1, 2022
Investments on record
43 edges, 42 companies, 1 partner-attributed
“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.
Co-investors
40 relationships from shared deals, counted for the whole firm
Scribble Ventures Management, LLC 3 shared · recurringMaple VC 2 shared · recurring2048 Ventures, LLC 2 shared · recurringRED & Blue Ventures 2 shared · recurringFloodgate 2 shared · recurringShrug, LLC 2 shared · recurringGrdnt LLC 2 shared · recurringLUX Capital Management, LLC 2 shared · recurringIN Venture 1 shared · one timeCity Light Capital Management III, LLC 1 shared · one time1984 Ventures Management, LLC 1 shared · one timeBullvc Fund Management LLC 1 shared · one timeVesey Ventures LP 1 shared · one timeVertex Ventures 1 shared · one time137 Ventures Management, LLC 1 shared · one timeMenlo Ventures 1 shared · one timeAurora Management LLC 1 shared · one timePioneer Square Investment Advisor, LLC 1 shared · one timeNoemis Ventures Management, LLC 1 shared · one timeBlue Bear Investment Group, LLC 1 shared · one timeCybernetix Ventures 1 shared · one timeHyde Park Venture Partners 1 shared · one timeViewpoint Ventures 1 shared · one timeSwan & Legend 1 shared · one timeForum Ventures, LLC. 1 shared · one timeUpper90 1 shared · one timeCervin Ventures Management, LLC 1 shared · one timeAzolla Management Company, LP 1 shared · one timeChemistry Ventures Management, LLC 1 shared · one timePowerhouse Ventures 1 shared · one timeMerus Capital Management Company, LLC 1 shared · one timeGradient Ventures 1 shared · one timeMac Venture Capital 1 shared · one timeHivemind Capital Partners LLC 1 shared · one timeDeepwater Asset Management, LLC 1 shared · one timeSiddhi Capital, LLC 1 shared · one timeHeadline 1 shared · one timeActivant Capital Group LLC 1 shared · one timeBling Capital LLC 1 shared · one timeK50 Ventures 1 shared · one time
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
8 dated events
- Mar 21, 2023Construct Capital II Operators Fund, L.P. first reported on Form ADV by Construct Capital Management, LLC (Venture Capital Fund), GAV $4,998,073Fund first reported on Form ADVFundsFactConstruct Capital II Operators Fund, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 21, 2023Construct Capital Select Fund I, L.P. first reported on Form ADV by Construct Capital Management, LLC (Venture Capital Fund), GAV $75,369,323Fund first reported on Form ADVFundsFactConstruct Capital Select Fund I, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 21, 2023Construct Spv-Vh, LLC first reported on Form ADV by Construct Capital Management, LLC (Venture Capital Fund), GAV $5,030,709Fund first reported on Form ADVFundsFactConstruct Spv-Vh, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 21, 2023Construct Spv-Vm, LLC first reported on Form ADV by Construct Capital Management, LLC (Venture Capital Fund), GAV $1,500,283Fund first reported on Form ADVFundsFactConstruct Spv-Vm, LLCSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 21, 2023Construct Capital II, L.P. first reported on Form ADV by Construct Capital Management, LLC (Venture Capital Fund), GAV $218,419,305Fund first reported on Form ADVFundsFactConstruct Capital II, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Oct 1, 2022Kirby Kevin Bartlett joined Schedule A of Construct Capital Management, LLC as Coo & Cfo
- Oct 12, 2020Construct Capital I, L.P. first reported on Form ADV by Construct Capital Management, LLC (Venture Capital Fund), GAV $32,575,000Fund first reported on Form ADVFundsFactConstruct Capital I, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Oct 12, 2020Construct Capital Management, LLC first filed Form ADV (ERA, venture capital fund adviser exemption)First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 12, 2026Multi-stage venture firm (confirmed, 95%, cls-1)both early and growth/opportunity families, reported GAV $496M
Evidence
47 observations from 3 sources