Bedrock

Bedrock is a San Francisco-based venture capital firm founded in 2018 by Geoff Lewis, investing in "narrative violation" companies whose trajectories diverge from market consensus. The firm manages ~$2B AUM and leads Series A through C rounds with $5M-$50M checks.

Company typePrivate
Founded2018
HeadquartersLos Angeles, United States
Headcount1–10
GTM typeB2B
OfferingServices

What Bedrock does

Bedrock is a San Francisco-based venture capital firm founded in March 2018 by Geoff Lewis. The firm invests with a "narrative violations" thesis, deploying capital into companies whose trajectories diverge from prevailing market consensus — examples include early positions in OpenAI, Bitcoin, Rippling, Flock Safety, Vercel, and defense-tech company Mach Industries. Bedrock leads Series A through C rounds with check sizes ranging from $5M to $50M, and has grown assets under management from approximately $127M at inception to roughly $2B. The firm operates from offices in San Francisco, Los Angeles, and Washington D.C., with a deliberately small team of 1-10 employees, and its portfolio spans consumer, enterprise software, defense, and crypto categories.

The firm's business model follows standard VC economics: it raises capital from limited partners, charges management fees on committed capital (industry-standard 1.5-2% annually), and earns carried interest on profitable exits. Realized exits to date include Lyft and Nubank. Bedrock's go-to-market with founders is differentiated by its thesis-driven, high-conviction posture and willingness to lead rounds in non-consensus categories where generalist capital is scarce. With limited partners, the firm competes on track record and brand rather than scale; the small partner count is itself a positioning signal.

Operationally, Bedrock has expanded its institutional capacity through leadership additions (e.g., Chief Legal and Governance Officer Michael Liftik in September 2025) and geographic expansion into Washington D.C., consistent with its defense-tech conviction thesis. Recent activity includes leading Mach Industries Series B ($100M, June 2025) and Series C ($300M at $1.8B valuation, June 2026), and the TensorZero seed ($7.3M, August 2025).

Bedrock firmographics

Firmographics

Name: Bedrock
Legal name: Bedrock Fund Management, LLC
Website: https://bedrockcap.com
Company type: Private
Founded year: 2018
Operating status: Operating
Headcount range: 1–10 employees
Short description: Bedrock is a San Francisco-based venture capital firm founded in 2018 by Geoff Lewis, investing in "narrative violation" companies whose trajectories diverge from market consensus. The firm manages ~$2B AUM and leads Series A through C rounds with $5M-$50M checks.
Ownership category
akta.pro rank

Bedrock industry classification

Industry

Product category: Venture Capital
NAICS: All Other Financial Investment Activities (52399), Portfolio Management and Investment Advice (523940)
SIC: Investment Advice (6282)
akta.pro primary industry: Sector-Focused Venture Capital (Vertical Specialists) (FSANAAAD)

Keywords

Venture capital investing
Early stage technology funding
Series A B C rounds
Narrative contrarian thesis
Startup equity investment

Where Bedrock is headquartered

Location

Headquarters

HQ city: Los Angeles
HQ country: United States
HQ region: North America

Offices3 records

Markets served

Bedrock business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

Venture Capital Fund Management: Bedrock generates returns through equity ownership in portfolio companies. As a VC firm, they invest in early to growth-stage technology startups and realize returns through exits (acquisitions, IPOs) or secondary sales.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Bedrock product offering

Product offering

Core offering

Bedrock is a venture capital firm that invests equity capital in early- to growth-stage technology startups, primarily leading Series A, B, and C rounds with individual check sizes between $5 million and $50 million. The firm pursues a "narrative violations" investment thesis, targeting companies that are incongruent with popular market narratives and therefore systematically underestimated by other investors. Bedrock also makes occasional smaller seed investments and reserves significant capital for follow-on funding in existing portfolio companies.

Differentiator

Problem solved

Functional benefit

Products and services

Lead Equity Investment (Series A, B, and C) Primary investment product where Bedrock leads funding rounds in early- to growth-stage technology startups, deploying $5M to $50M of equity capital in exchange for ownership stakes. Intended for founders of technology companies that do not fit prevailing market narratives.
Seed Stage Investment Smaller, occasional equity investments in seed-stage technology startups that align with Bedrock's narrative violations thesis. Intended for very early-stage founders pursuing contrarian opportunities.
Follow-On Capital Reserve Reserved follow-on capital commitments allocated to existing portfolio companies in subsequent financing rounds, allowing Bedrock to maintain ownership positions and support continued growth. Available to founders of companies already in the Bedrock portfolio.

Quantifiable outcome

Bedrock has made over 50 investments including successful exits in Lyft (IPO), Nubank (NYSE: NU), and others

Companies that use Bedrock

Customer profile

Named customers7 records

Segments1 record

Ideal customer profiles1 record

Bedrock technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Bedrock partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

K&D GroupminorOthersK&D Group is a real estate developer in Cleveland that has worked alongside Bedrock on adaptive reuse projects converting historic buildings to apartments.

Scale indicators3 records

Recent moves5 records

Expansion highlights4 records

Bedrock competitors and assessment

Company assessment

Direct peers

Lightspeed Venture Partners: Lightspeed is a direct peer — a multi-stage venture firm writing comparable check sizes across consumer, enterprise, and infra. Bedrock and Lightspeed frequently co-occur in rounds and compete for similar Series B/C opportunities.
Coatue Ventures: Coatue is a direct peer in the growth-stage venture category, particularly relevant for consumer/infrastructure software rounds where Bedrock's Vercel and Rippling bets compete for capital. Comparable fund size, stage focus, and check size band.
Greenoaks Capital Partners: Greenoaks is a direct peer known for concentrated, high-conviction, long-duration positions in growth-stage tech companies. Bedrock's approach of writing larger checks with reserved follow-on capital closely mirrors Greenoaks' ownership-oriented model.
Founders Fund: Founders Fund is the most comparable direct peer — both are thesis-driven, contrarian-leaning early/growth-stage VCs that explicitly invest against consensus narratives. Bedrock's 'narrative violations' framework closely mirrors Founders Fund's 'founder-friendly, contrarian' identity and concentrated-check approach.
Khosla Ventures: Khosla Ventures is a direct peer — an early/growth-stage VC with concentrated, thesis-led bets across AI, defense-tech, and frontier technology. Led Mach Industries' Series B alongside Bedrock, demonstrating overlapping investment themes and syndicate behavior.
First Round Capital: First Round Capital led TensorZero's seed round with Bedrock participating; both are stage-focused VCs known for concentrated, high-conviction seed and Series A investing. Comparable in check size, founder-friendly orientation, and product-led thesis approach.
IVP (Institutional Venture Partners): IVP is a direct peer in late-stage growth venture, writing comparable check sizes and competing for the same Series B/C rounds that Bedrock targets with its $5M-$50M check range. Both prioritize ownership and board influence in portfolio companies.
General Catalyst: General Catalyst is a direct peer in the growth-stage venture category, writing similar check sizes ($5M-$50M+) and competing for the same AI, fintech, and infrastructure rounds. Comparable in fund size, stage focus, and institutional LP base.

Broad incumbents

Sequoia Capital: Sequoia is a repeat co-investor with Bedrock across Mach Industries and other portfolio rounds, and is the archetypal large, multi-stage venture incumbent. Comparable as a counterparty in syndicates and as a benchmark for category leadership in tech venture.
Andreessen Horowitz: a16z is a tier-1 incumbent that has co-invested with Bedrock in Flock Safety and shares exposure to many of the same AI and developer-infrastructure themes. While much larger and broader, a16z represents the scale end of the venture spectrum where Bedrock aspires to compete for category-defining rounds.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

Bedrock financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Bedrock leadership team

Management profile

Number of profiles

Profiles7 records

Bedrock funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Bedrock M&A and investment

M&A and investment

M&A

Investments74 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bedrock

What does Bedrock do?

Is Bedrock a public or private company?

Bedrock is a private company. It is classified as founder individual operated bootstrapped and is currently operating.

When was Bedrock founded?

Bedrock was founded in 2018. It employs 1 to 10 people.

Where is Bedrock based?

Bedrock is headquartered in Los Angeles, United States, in the North America region.

How does Bedrock make money?

One revenue line is on record: venture Capital Fund Management.

Who are Bedrock's main competitors?

Direct peers on record are Lightspeed Venture Partners, Coatue Ventures, Greenoaks Capital Partners, Founders Fund, Khosla Ventures, First Round Capital, IVP (Institutional Venture Partners) and General Catalyst. Broad incumbents are Sequoia Capital and Andreessen Horowitz.

Does Bedrock have an API?

No public API is recorded for Bedrock.

What industry is Bedrock in?

Bedrock's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAD, Sector-Focused Venture Capital (Vertical Specialists). Its NAICS code is 52399 and its SIC code is 6282.