A private investment vehicle designed to generate exceptional investor returns with lasting social and environmental impact.



Bedford Funds is an opportunity zone private equity fund currently raising $2.0 billion to deploy through an investment strategy designed to generate exceptional investor returns net of all fees, costs, carry and federal income tax.

Bedford is not a real estate fund, rather its focuses predominately on operating technology companies that will scale nationally into dozens of opportunity zones across the U.S.


This strategy not only builds the scale need to successful exit assets but also provides a critical catalyst of good jobs and large scale investments allowing local Opportunity Zone leadership to begin rejuvenating their communities from within.   

Additionally, and in alignment with the intent of the enabling Opportunity Zone federal tax legislation, Bedford's strategy is designed to generate economic growth, wealth creation, and social impact in targeted economically distressed communities and industries across the nation.


pittsburgh builds things



Bedford’s core team includes career private equity professionals and sector-focused tech company operations leaders, with deep experience is all phases of company and private equity portfolio creation, management, operations, back-office, and exits.  The team also has considerable oeprating ESG experience which helps the Fund be optimally effective in many Opportunity Zones nationwide.


The Fund’s CEO, President, and CFO are senior private equity professionals with over 30 years’ experience in all phases of private capital investing, operations, turn-around, and portfolio management in private equity funds and family offices.  The other partners all have both private capital and operating company P&L leadership experience.


The focus of the team’s expertise is heavily weighted toward building and developing energy, training, and food technology investments through direct operations of assets and portfolio management. 

Additionally, through Bedford CEO's leadership role at the Energy Innovation Center Institute, the group commands unique international convening power on investment strategy industries unlike any other investment vehicle in the U.S. at this time. 



The six founding principals have considerable experience creating investor value over their careers. 


A differentiator of the group is that their expertise also includes meaningful experience and expertise working effectively in economically distressed neighborhoods. 


This rare combination of private equity asset, portfolio, and technology company operations leadership experience along with significant Environmental, Social, and Governance (ESG) work experience aligns well with the intent of the Opportunity Zone legislation.

The Managing Directors have been working together over the last 10+ years in various capacities and relationships. 

Rich DiClaudio

Managing Director and CEO

32 years of private equity and ESG not-for-profit leadership. Focus on energy and education technologies.  Career AUM over $900 million.

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Rich Talarico

Managing Director and President

34 years of private equity and single family office leadership.  Focus on technology, media, and content development. Career AUM over $500 million.

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Dean Praskach

Managing Director and CFO

33 years of private equity, family office, and large scale financial structuring leadership. Focus on technology. AUM over $400 million.

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Jim Dorris

Managing Director, Unpaid Advisor

21 years of operating and P&L responsibility in energy, industry, health, ESG leadership and private capital investing.

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Mike Broeker

Managing Director

Unpaid Advisor

29 years in technology, software development, and operational leadership.

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Alex DiClaudio

Managing Director

10 years in private capital, media, entertainment, and education technology. Trustee of Carnegie Mellon University

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Value creation is all about team and culture. 

Innovations decay.

Strategies, technologies, and revenue models come and go.

Strong teams with a culture based on core principals will always create value in new ways and reduce operational, market, and investment risks along the way.

Over the last year Bedford's founding Managing Directors have been assembling a team of highly talented sector-focused executives to run many of the Fund's investment strategy plays.  Most of these men and women and are long-time business associates and past partners. 

John Hans

Executive, Future of Food

27 years of global operations leadership in food industry, marketing, and private equity. 

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Bob Fulton

Corporate Controller

34 years of private capital, single family office and public operating business financial accounting and reporting leadership. 

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Steve Ross

Executive, Future of Energy

32 years of global energy development, operations, and technology with a focus on bus technology & micro-grids.

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Doug Shannon

Executive, Charleston, SC Office

Technology and Health

25 years of private capital investing in technology and healthcare.

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Jared O'Connell

Executive, Charleston, SC Office

Technology and Health

18 years of investment banking and private capital investing in technology and healthcare.

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Jessica Trybus

Executive Advisor, Future of Work

17 years of innovation in education technology, gamification, and future of learning.

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Executive Advisors

A growing group of past partners and affiliates with deep private equity, operations, and sector-specific expertise.

Professional Advisors

World- class legal, tax, audit, compliance, treasury, custodial, and consulting companies.

Development Partners

Best-in-class sector-specific development and operating partners.



Bedford Funds is unique in the national Opportunity Zone Fund space,

with its focus on scalable operating technology companies in several related sectors of the economy rather than real estate development. 


 Our primary strategic investment verticals are organized around:

Future of Energy | Future of Work | Future of Food & Healthy Living

All investments are based upon:

team expertise,

the ability to generate exceptional investor returns, and

positive social impact.


This value creation strategy is accelerated by leveraging a “force-multiplier effect” derived from deploying all of the investment verticals into innovation ecosystems in Pittsburgh and nationwide. When the current lineup of portfolio investments are fully scaled to multiple opportunity zones across the U.S., Bedford’s strategy will help address many of the modern redlines these communities face, by strategically driving employment and agency.



When viewed holistically, Bedford's investment strategy's unifying theme is apparent, coherent, reduces portfolio risks, and also helps drive several social and environmental objectives while generating strong investor returns. 


Specifically, the strategy coalesces around profitable, scalable operating businesses and technologies for which the team has deep investing and operating expertise, addresses energy related environmental issues that also help erase modern ‘redlining’. 

Redlining is typically best known for bank lending practices that denied or overcharged loans to distressed populations. 


Modern redline also includes systematic denial of various services to residents of specific, often racially associated, neighborhoods or communities, either directly or through the selective raising of prices. 

Modern redlining often now includes accessible jobs at family sustaining wages, food, health, education and technologies.   


Bedford's method for generating both top tier returns and the ESG outcome of addressing modern redlining aligns well with the Economics of Mutuality or Conscious Capitalism.

Both can be defined as a business approach that emphasizes creating extraordinary outcomes for all stakeholders. 


Businesses that employ theses principles are more innovative, less risky, and better positioned to deliver superior performance in the long term, because all stakeholders along the value chain have a vested interest in the success of their business and others. 


This approach is a philosophy based on a simple idea that when practiced consciously, business elevates humanity.

Of course, as investment professionals, we still want to achieve exceptional returns for our partners. 


Bedford's blended risk investment strategy expects to deliver private equity returns of mid-teens IRR net of all fees, costs, carry, and investor federal income taxes on capital gains.  There are also multiple opportunities in the strategy for returns to exceed this target meaningfully. All while simultaneously generating positive social and environmental impact


Part of the Fund’s ability to deliver the dual objectives of exceptional investor returns and social/environmental impact is through the tax benefits of the enabling OZF legislation.


Energy Innovation Center

1435 Bedford Avenue, Suite 108

Pittsburgh, Pennsylvania 15219



Bedford is not a real estate fund, please do not submit real estate investment opportunities for consideration. 

Bedford is NOT soliciting an investment in the Fund through this website.

Qualified Investors should contact

Dean Praskach, Managing Director and CFO


for information.



Managed by the 40 x80 Group, LLC

Bedford Funds, LP is one of the largest Opportunity Zone private equity funds in the nation.

Bedford Funds is not a real estate OZF but rather focuses on operating technology companies that qualify as Opportunity Zone Companies.




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© 2019 by 40 x 80 Group, LLC




Energy Innovation Center

Suite 108

1435 Bedford Avenue,

Pittsburgh, Pennsylvania 15219