Disclosed is a hybrid fiber tow that comprises multiple continuous filaments and nanoscale fillers embedded in the interstitial spaces between continuous filaments. Nanoscale fillers may be selected from a nanoscale graphene plate, non-graphite platelet, carbon nano-tube, nano-rod, carbon nano-fiber, non-carbon nano-fiber, or a combination thereof. Also disclosed are a hybrid fiber tow impregnated with a matrix material and a composite structure fabricated from a hybrid fiber tow. The composite exhibits improved physical properties (e.g., thermal conductivity) in a direction transverse to the continuous fiber axis. A roll-to-roll process for producing a continuous fiber tow or matrix-impregnated fiber tow and an automated process for producing composite structures containing both continuous filaments and nanoscale fillers are also provided.