Bedrock Research
Investment Thesis
Bedrock (bedrockcap.com), founded by Geoff Lewis in 2018, invests around a single organizing idea: "narrative violations." The firm's stated belief is that the best time to invest in a company is when it is most incongruent with the popular storyline about its category, i.e. when a business is underestimated or overlooked because it doesn't fit a consensus narrative. Bedrock frames its core value as "radical open-mindedness" and describes its process as constantly questioning popular narratives in search of hidden truths, explicitly trying to avoid "narrative mirages" - hyped categories that draw excess capital and produce few durable winners.
Stage Focus
Bedrock's public materials describe Series A, B, and C as the primary entry points, with occasional seed investments and periodic follow-on participation in existing portfolio companies. This is a concentrated, conviction-driven fund rather than a high-volume seed program.
Check Size
The firm states it writes $5M to $50M checks for primary rounds, consistent with a Series A-C focus and a concentrated portfolio strategy (73 companies since 2018 per third-party trackers, a low count for a fund of this scale).
Lead Tendency
Not explicitly stated on the website or in available secondary sources. Given check sizes up to $50M and board-level involvement implied by the firm's governance-focused writing (see Michael Liftik's essays), Bedrock likely leads or co-leads a meaningful share of its rounds, but this is not confirmed and is recorded as unknown.
Recent Activity
Bedrock is investing out of its fourth fund and is described by third-party trackers (Tracxn, June 2026) as actively deploying, though at low velocity - one new platform investment in the trailing 12 months as of that snapshot. The most visible recent event is portfolio company Mach Industries' ~$50M acquisition of Exquadrum (announced May 19, 2026 via TechCrunch), deepening Mach's vertical integration across propulsion and energetics for defense applications. AUM has grown from roughly $127M at founding (2018) to approximately $3B as of 2025, per external reporting.
Portfolio Highlights
Bedrock's public "Investments" page lists a small, high-conviction set of anchor bets: OpenAI (AI research and development, led by Sam Altman), Rippling (all-in-one HR/IT platform, led by Parker Conrad), Flock Safety (public safety operating system / camera and license-plate-recognition network, led by Garrett Langley), Vercel (front-end web development and deployment platform, led by Guillermo Rauch), Mach Industries (defense technology / propulsion, led by Ethan Thornton), and Bitcoin (listed as a standalone "investment" attributed to Satoshi Nakamoto - an asset position rather than a portfolio company). The firm's own "Letter" page also references Nubank (fintech) as part of its historical investment set. This is a portfolio built around a handful of category-defining, often controversial-at-entry bets rather than broad diversification.
Team
- Geoff Lewis - Founder & Managing Partner. Previously a partner at Founders Fund; founded Bedrock in 2018 around the narrative-violation thesis.
- Rachel Haot - Chief of Staff, investor-relations point of contact ([email protected]).
- Michael Liftik - Chief Legal & Governance Officer, appointed September 2025; writes on governance and institutional-sovereignty themes for the firm.
- Thomas O'Leary - Chief Financial Officer.
- Ben Kany - Principal; also publishes essays on the firm's news page (e.g. "On Identity," June 2026).
- Sid Vashist - Principal, entrepreneur-facing point of contact ([email protected]).
- Tyler Galpin - Creative Director.
No individual bios, LinkedIn URLs, or prior-firm backgrounds beyond Geoff Lewis's were published on the site at time of research.
Decision Process
Not explicitly disclosed. The presence of a Managing Partner plus dedicated Chief Legal/Governance and Chief Financial officers alongside two Principals suggests an institutionalized partnership structure rather than a solo-GP shop, though Lewis appears to be the dominant decision-maker and public voice of the firm.
Founder Preferences
Bedrock's own language emphasizes founders and companies that "cannot be easily categorized," that operate in narratively "cooled" or unfashionable categories, and that show conviction against consensus opinion - essentially favoring contrarian, operations-focused founders over trend-chasing ones.
Geographic Focus
Not specified on the website; no office address is published. Secondary sources place Geoff Lewis and the firm's orbit between Los Angeles and Austin (Lewis relocated from the Bay Area to Austin publicly in 2021), though the firm does not confirm a single headquarters location, so location is recorded as unknown rather than guessed.
Sector Focus
Bedrock does not commit to a fixed sector list; the firm explicitly favors thesis-driven, cross-category bets. Observed portfolio sectors span AI/ML infrastructure (OpenAI), enterprise HR/IT software (Rippling), public-safety/security technology (Flock Safety), developer tooling and web infrastructure (Vercel), aerospace/defense (Mach Industries), fintech (Nubank), and crypto/digital assets (Bitcoin).