Monica Truelsch

From Uber to Foundational Industries At Manifest 2026, Scott Luton sat down with Rachel Holt, Co-Founder and Managing Partner of Construct Capital, to explore how venture capital is fueling the next era of supply chain innovation. Construct Capital, now six years old, was founded in early 2020 with a bold thesis: transform foundational industries that represent nearly half of GDP: supply chain, logistics, manufacturing, mobility, infrastructure, and defense. When the fund launched, Holt recalls many skeptics asking whether supply chain and logistics were truly venture-scale opportunities. It echoed what she heard when she joined Uber in 2011, when transportation was considered slow moving and heavily regulated. Yet Uber went on to redefine personal logistics. Her final years at Uber brought a pivotal lesson. While the rides business operated with second-by-second visibility, the company’s e-bike and scooter supply chain operated in near darkness. Products shipped from China would disappear for weeks at sea, briefly reappear at ports, then stall again in customs. “We had no visibility, we had no ability to reroute,” Holt shared, as this Eureka moment would go on to help shape her investment focus.   The Visibility Gap at the Seams Supply chain, Holt emphasized, is not monolithic.…

The ecommerce industry has been steadily growing over the last few years, accelerated by the Coronavirus pandemic which led to a surge in demand for online products and services. This is great news for online retailers; however, as we know, competition online is fierce. Retailers who aren’t offering an exceptional customer experience risk losing their business to a competitor. A key part of a great customer experience is delivery and returns, and customer expectations in this area are high. 60% of consumers will buy again from a retailer if they were satisfied with the delivery. Returns are equally important and 78% of consumers consider the quality of a returns service when choosing where to shop. Customers know what they want, and they will choose stores based on where they will get the best experience. However, not all customers are the same. Offering a personalised e-commerce experience that meets customer expectations is vital in the right to acquire and retain today’s digital customer where customer loyalty is only as good as the last shopping experience. The Custom Approach to Delivery and Returns When it comes to delivery, retailers who think a “one size fits all” approach will work underestimate the needs…