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Venture Capital
bedrockcap.com

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Investments

39

Portfolio Exits

1

Funds

4

Service Providers

1

About Bedrock Capital

Bedrock Capital is a NY-based venture capital firm.

Bedrock Capital Headquarter Location

56 Est 13th Street

New York, New York, 10003,

United States

415-841-2802

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CB Insights Intelligence Analysts have mentioned Bedrock Capital in 1 CB Insights research brief, most recently on May 24, 2021.

Latest Bedrock Capital News

VC Geoff Lewis on moving to Austin and popping Silicon Valley’s ‘self-referential’ bubble – TechCrunch

Aug 18, 2021

VC Geoff Lewis on moving to Austin and popping Silicon Valley’s ‘self-referential’ bubble – TechCrunch julesmenten 11 mins ago Austin made There are several reasons for headlines over the past year. There is a new headquarters for Oracle.Tesla Large Gigafactory In the capital of Texas. People, mostly technicians, have settled in the city away from the Bay Area, pushing up home prices in the process. But it’s not just engineers. Austin has many venture capitalists, including: Breyer Capital’s Jim Breyer And Palantir co-founder Joe Lonsdale said last year he Run his venture capital company , 8VC, from Silicon Valley to the city. “I don’t think everyone should move to Austin. I don’t think it’s right for everyone, but I think it’s right for us.” The latest VCs that call Austin their hometown Jeff Lewis Founder and Managing Partner of Bedrock Capital, an early-stage venture capital firm four years ago with $ 1 billion in assets under management. Lewis began his investment career at the Founders Fund, where he partnered for several years. He has been or has been a board member of companies such as Lyft, Nubank, Vercel, and Workrise. Lewis also led initial investments in Wish, Upstart, Tilray, Canva, Rippling, ClearCo, Flock Safety, and many other unicorns. He is highly regarded for spreading the phrase “narrative breach” to describe promising companies that are overlooked or undervalued because they are inconsistent with popular narratives. In moving to Austin, investors were disillusioned with Silicon Valley and said they remained unfocused on solving what the region described as a real-world problem. Medium officer Lewis said he was first introduced to Austin after supporting Workrise (formerly known as RigUp), a market for skilled trade workers. In fact, he was the company’s first seed investor eight years ago and has been investing in the company eight times since then.Today, Workrise Value close to $ 3 billion .. Mr. Lewis said he was attracted to the company not only because it “becomes huge” but also because “it was far more interested in real people and places than today’s Silicon Valley giants.” .. “Simply put, it’s a more humane technology company,” Lewis writes. “And what took me to Texas was to look for this more humane innovation genre. I live on the coast and build a career as a technology entrepreneur and investor in Silicon Valley. I’ve been there, but I’ve never felt it. of As a coast or insider In Silicon Valley — I didn’t go to Stanford or get rich. “ TechCrunch talked to Lewis to learn more about his decision to move his company to Austin and learned his view on why Silicon Valley has become too “bubble” (spoiler note: they are you). May not be popular with many of them!) And he plans to invest more in Texas startup connections. This interview has been edited for length and clarity. You said you grew up in Canada. What made you first join the technology industry in the first place? I started as an entrepreneur and founded a SaaS company in the travel industry. [Topguest].. I founded the business in New York City and moved my team to San Francisco in 2009. I spent most of my career from 2009 to 2021 going back and forth between New York and science fiction. We ended up selling the company in 2011, which was a pretty okay result. I joined the Founders Fund in 2012. So I got hooked on investing. I got a really special trajectory there and 2012 was a great opportunity to be a young VC in San Francisco and Silicon Valley. Ultimately, I focused on both consumer and corporate markets and helped companies like Lyft and Canva early on. I also made my first FinTech investment in Latin America and helped Nubank. Currently, the company is valued at $ 30 billion. I grew up in a fairly modest way and by 2017 I thought I was quite successful as a VC. I need to strive to get back to what I want to do, which is more entrepreneurial. That’s why we founded Bedrock in late 2017. I am currently using Fund III, which is in line with the investment philosophy I pursued. That is, we are trying to find what are called narrative violations, or these narrative companies that are overlooked or undervalued. We were very early investors in cameos. Cameo, for example, is now clearly a fairly well-known business. You initially chose to put the bedrock in New York. Why? When I was at the Founders Fund, I had homes in both cities (SF and NYC), so I was a kid who grew up in Calgary, Canada and wanted to live on the beach and become the center of action. However, Silicon Valley tended to be a bit overly self-referential and a little out of the noise, so in 2017 we decided to actually headquarter in Bedrock, New York. New York isn’t a city of horses, so I decided to set up a company there, but I’ve actually invested and continue to invest everywhere in the country and, to be honest, all over the world. We invested in WordPress early on and more recently in Argyle and Lambda School. VC Geoff Lewis on moving to Austin and popping Silicon Valley’s ‘self-referential’ bubble – TechCrunch Source link VC Geoff Lewis on moving to Austin and popping Silicon Valley’s ‘self-referential’ bubble – TechCrunch julesmenten 11 mins ago May 1, 2021 June 9, 2021

Bedrock Capital Investments

39 Investments

Bedrock Capital has made 39 investments. Their latest investment was in Homebase as part of their Series C on July 7, 2021.

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Bedrock Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/29/2021

Series C

Homebase

$71M

Yes

Bain Capital Ventures, Baseline Ventures, Cowboy Ventures, GGV Capital, Jocelyn Mangan, Jrue Holiday, Kat Cole, Khosla Ventures, Lauren Holiday, Matthew McConaughey, Mike Dinsdale, Plus Capital, and Rachel Carlson

3

7/12/2021

Series A

Leadr

$10M

Yes

Bobby Morrison, Eliot Crowther, and Undisclosed Angel Investors

3

5/25/2021

Series C

Popmenu

$65M

No

Base10 Partners, Felicis Ventures, Salesforce Ventures, and Tiger Global Management

6

5/20/2021

Series E

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$99M

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10

5/4/2021

Series B

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$99M

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10

Date

7/29/2021

7/12/2021

5/25/2021

5/20/2021

5/4/2021

Round

Series C

Series A

Series C

Series E

Series B

Company

Homebase

Leadr

Popmenu

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Amount

$71M

$10M

$65M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Bain Capital Ventures, Baseline Ventures, Cowboy Ventures, GGV Capital, Jocelyn Mangan, Jrue Holiday, Kat Cole, Khosla Ventures, Lauren Holiday, Matthew McConaughey, Mike Dinsdale, Plus Capital, and Rachel Carlson

Bobby Morrison, Eliot Crowther, and Undisclosed Angel Investors

Base10 Partners, Felicis Ventures, Salesforce Ventures, and Tiger Global Management

Sources

3

3

6

10

10

Bedrock Capital Portfolio Exits

1 Portfolio Exit

Bedrock Capital has 1 portfolio exit. Their latest portfolio exit was Unsplash on March 30, 2021.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

3/30/2021

Acquired

6

Date

3/30/2021

Exit

Acquired

Companies

Valuation

Acquirer

Sources

6

Bedrock Capital Fund History

4 Fund Histories

Bedrock Capital has 4 funds, including Bedrock Capital I.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/27/2018

Bedrock Capital I

Early-Stage Venture Capital

$122M

3

Bedrock Capital Entrepreneurs Fund II

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$99M

10

Bedrock Everest I

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$99M

10

Bedrock Capital II

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$99M

10

Closing Date

3/27/2018

Fund

Bedrock Capital I

Bedrock Capital Entrepreneurs Fund II

Bedrock Everest I

Bedrock Capital II

Fund Type

Early-Stage Venture Capital

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Status

Amount

$122M

$99M

$99M

$99M

Sources

3

10

10

10

Bedrock Capital Service Providers

1 Service Provider

Bedrock Capital has 1 service provider relationship

Service Provider

Associated Rounds

Provider Type

Service Type

Counsel

Service Provider

Associated Rounds

Provider Type

Counsel

Service Type

Partnership data by VentureSource

Bedrock Capital Team

1 Team Member

Bedrock Capital has 1 team member, including current Founder, Managing Partner, Eric Stromberg.

Name

Work History

Title

Status

Eric Stromberg

Founder, Managing Partner

Current

Name

Eric Stromberg

Work History

Title

Founder, Managing Partner

Status

Current

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