One of Uber’s most powerful women leaves to start a VC fund

Rachel Holt, one of the first employees at Uber Technologies Inc. who rose to become one of the most powerful women at the company, is leaving to start a venture capital firm.

Holt is teaming up with Dayna Grayson, a venture capitalist from New Enterprise Associates, to create the new firm, Construct Capital. Both women announced the moves on Twitter but didn’t offer details such as the target fund size. Neither responded to requests for comment.

The new firm increases the representation of women in venture capital, an industry dominated by men who bankroll startups mostly led by men.