A power plant on an active underwater volcano, nearly a mile beneath the Pacific Ocean. Our portfolio company @endurancegeo just accomplished something remarkable with Adélie, its subsea geothermal test plant. During a three-week deployment off the Oregon coast, the team drilled and completed the world's first subsea geothermal well, operated a power plant remotely from Seattle and successfully generated more electricity than the system consumed. It's an important step toward unlocking a largely untapped source of clean, reliable energy. Subsea geothermal has the potential to provide continuous power to coastal communities and island nations that currently depend heavily on imported diesel. Congratulations to Andrew Redd and the entire Endurance Energy team on this milestone. We're excited to see what's next as they work toward commercial-scale generation. Learn more about Adélie: enduranceenergy.com/

Dayna Grayson will be at TechCrunch Disrupt 2026 in San Francisco. On Thursday, October 15, she'll judge the Startup Battlefield Final, where this year's finalists compete for the Battlefield Cup and $100,000. If you're at Disrupt, come say hello. #TechCrunchDisrupt #Disrupt2026

The next generation of physical AI companies are poised to win because they’re not just building on the data layer. They’re creating it. Watch the full episode: youtube.com/watch?v=XySpdJ6U…

@RachelJHolt joined @lessin for a special guest episode of the More or Less podcast this week. In physical AI, data isn’t readily accessible or easily commoditized, giving startups a chance to gain distribution and build defensibility before mega platforms can catch up.

We recently hosted our inaugural Construct Founders Summit at the Officers’ Club in the Presidio, bringing together our portfolio founders building across the most foundational industries of our economy. Foundational Industries are growing at warp speed and we strived to provide practical, no-BS insights that our founders can immediately put to work—from navigating high-stakes deals and selling into government, to building exceptional products and world-class go-to-market teams. Operators who have scaled massive organizations, teams, and outcomes shared their thoughts with us: Jeanne Grosser (@jdewitt29) on GTM systems, Trae Stephens (@traestephens) on scaling in atypical venture markets, Yuhki Yamashita (@yuhkiyam) on world-class products, Ed Batista (@edbatista) on culture-building, Dennis Cinelli (@DennisKCinelli) on high-stakes deals, and Willy Schlacks on the journey to IPO. Our founders span multiple locations throughout the US, with many coming not only from the Bay Area but also from LA, New York, Boston, and Europe. As more late-stage capital flows into Foundational Industries, the need for collaborative sessions for founders building at the early stages is more important than ever; making small decisions at the early stages can drastically affect the direction of a company in later years. This is where we focus, and we loved getting everyone together in one room. We’re honored to be a part of our founders’ journeys as they build the next generation of companies reindustrializing our world. Thank you to all of our sponsors, @WithCoverageInc, @CooleyLLP, Andersen Tax, @Aduro_Advisors, and @PwC, for helping make it all happen.

Detroit this week for @reindsummit — one of our favorite rooms of the year. Builders, operators, investors, and policymakers all in one place, talking seriously about what it actually takes to rebuild American industrial capacity. The energy here never gets old. Proud to see @2112Power from @HadrianInc onstage. If you want to understand what it looks like to modernize precision manufacturing from the ground up, he's one of the best people making that case.

@HadrianInc just opened Factory 4 today: - 2.25M sq ft - $2B invested - 1,000 jobs This is the Modern Reindustrialization Era in action—rebuilding how America's foundational industries work faster and at scale. Proud to be an early investor and board member.

Catch Construct Capital Co-Founder & Managing Partner @RachelJHolt at @ManifestFOL Vegas moderating a panel on Redefining What’s Possible in Supply Chain Visibility on Tuesday, February 10th at 10:20am. She’ll be joined by executives and founders from across the value chain, including Joyce Crute (@Acer), Mathew Elenjickal (@FourKites), Owen Nicholson (@SlamcoreLtd), and @davezingery (@MidmoAi). Together, they’ll explore what supply chain visibility actually looks like in practice today, what’s still missing to unlock true automation, the role of autonomous AI agents, where real cost savings will come from—and the hard realities of implementing software in the physical world.

@daynagrayson will be speaking tomorrow at the 2026 Women’s Venture Capital Summit alongside Cindy Cheng, Beth Ferreira, and Larissa Cespedes-Yaffar. As markets evolve and capital becomes more disciplined, venture firms are rethinking how macro forces, liquidity, and risk shape growth investing. The reset hasn’t been uniform. While sectors like traditional SaaS have faced heightened selectivity, others have seen boom-time dynamics. Today’s market is deeply sector-specific, making focus more important than ever. Within the areas we focus on at Construct—Foundational Industries of the economy—AI, industrials, and critical infrastructure are commanding our full attention. We’re looking forward to exchanging more of these insights at #WVCS2026.

A few weeks ago, @RachelJHolt spoke at @FordPro ACCELERATE at Michigan Central, a one-day session filled with CEOs and top industry experts dedicated to bolstering the Essential Economy — the 3 million+ businesses and critical industries that keep America running. Rachel’s comments (video below) mirrored those of @jimfarley98, who opened the session by saying, “What happened to the Essential Economy? We outsourced a lot of skills and jobs. We stopped investing in the trades. If Henry Ford saw what has become of us, I think he’d be kind of mad.” Rachel’s panel on innovation focused on partnership: “The best thing bigger companies can do to help innovate in these sectors is to be willing to partner with startups,” she said. Solving the challenges in these spaces will require an ecosystem of collaboration and testing of new solutions. We founded Construct before the pandemic in 2020 because we believe the only way to fill the productivity gap in these sectors is to help partner with the best founders flooding into these spaces with the technical expertise to innovate and drive outcomes. Thank you to Ford Pro for having us! You can read the full recap of the first national conversation on the Essential Economy here: fromtheroad.ford.com/us/en/a…