Today, we are excited to share what we've been up to with Construct Capital. We put this fund together to back extraordinary entrepreneurs who are focused on the most foundational industries of our society. These sectors—spanning manufacturing, transportation, logistics, and more—make up over half our country’s GDP and receive a fraction of investment dollars. Just as SaaS and Cloud redefined the IT space over the past 20 years, we believe the next decade will be about reimagining the real world. Transforming spaces that have been underinvested for decades comes with unique challenges. We love that world-class founders are turning their attention here. That’s why we're pleased to announce that Construct Capital has closed an oversubscribed $140m debut fund.
We see two things happening that are impacting these spaces. Consumers' growing expectations for immediacy are driving a deep need for changes across the production life-cycle—from faster cycle times and more collaboration to greater visibility. Simultaneously, expectations for speed, reliability and ease, which has already permeated the consumer and enterprise IT worlds are just starting to impact foundational industries. While these crippling problems are nothing new, shocks to the system like the global pandemic have certainly highlighted their urgency.
At Construct, we’re big believers in the investor-operator combo being the right way to support founders from the early stages. Dayna was one of the first investors to build a portfolio in the industrial sector, leading early investments in Desktop Metal (NYSE: DM), Onshape (Acqd. PTC), Tulip, Framebridge (Acqd. GHO), and Guideline, among others. Rachel was one of Uber’s earliest employees and a senior executive as the business achieved massive scale, building and leading the U.S. and Canada Rides and New Mobility (Jump) businesses.
We have worked with incredible founders and teams from the stages when new ideas were only technical visions. We've also seen massive scale first hand, from the boardroom to the front lines. We both share a natural inclination to dive into hard work, and have designed our portfolio—making investments in only a handful of companies—so we can support our founders however it is needed. The name Construct represents the hard work that founders do. They are the builders and the visionaries and we chose this name because our fund isn’t about us—it’s a tribute to what they’re building.
We have made a few investments so far in incredible companies such Copia, Tradeswell, ChargeLab, and Chef Robotics who are each on a path to redefine their category. Copia connects the old-industrial automation world with developer tools and workflows that lay the foundation for much-needed modern engineering. Tradeswell brings visibility to data across the commerce and supply chains, laying the foundation for greater automation by optimizing sales, promotions and inventory for large brands. ChargeLab is building the operating system to connect electric vehicle infrastructure around the globe, and Chef provides a robotics system for food assembly.
We are grateful for the support of our LPs—endowments, foundations, and other institutions, as well as, friends and industry colleagues who share our conviction and purpose. If any of the above resonates with you, especially if you’re an entrepreneur, please reach out and say hello.