It’s always great to see DC company grow and reinvest in our city. Congratulations to Construct Capital!
Construct Capital announced Monday they have raised a $300 million fund to back early-stage technology startups. They are primarily targeting software companies operating in the logistics, manufacturing and transportation sectors.
Their third fund comes just under three years since the duo closed on their second fund, another $300 million venture. The partners closed their inaugural $140 million fund in 2021.
The VC firm has made 42 investments — including three based in D.C. — and has amassed some $750 million in assets under management since its founding in 2020.
The office vacancy rate in D.C. ticked down slightly in the first quarter, largely thanks to big blocks of obsolete office space slated for conversion to multifamily coming offline, according to JLL.
The commercial real estate giant said the District’s vacancy rate fell to 19.6% in the quarter that ends Monday, down from 19.9% in the fourth quarter.
Wall Street Funding refiled plans with DC’s Historic Preservation Office this month to convert two rowhouses at 471-473 H Street NW (map) into an 11-story, 46-unit affordable development. The facades of the rowhouses would be restored while the rear addition at 471 H Street NW and a portion of the main structure would be removed, and a new L-shaped addition would be constructed at the rear of the property. Aggregate Architecture and Design is designing the conversion, which was originally pitched back in October.
Vinoda Basnayake and his District-based Versus Equity plan to open Ciel Capitol Hill on April 11 from rooftop space atop the Washington Marriott Capitol Hill at 175 L St. NE.
Basnayake hopes to wow guests in the 2,700-square-foot space with lively brunches, weekly jazz nights and DJs spinning tunes from a booth set against the backdrop of Union Station and the Capitol dome beyond it.
