The world of venture capitalism has often been described as a ruthless arena, but it has also showcased individuals whose intuition and foresight helped catalyze innovation and technological advancement. Dick Kramlich, a co-founder of New Enterprise Associates (NEA), was one such figure. He passed away unexpectedly at the age of 89, leaving behind a legacy that has significantly shaped the landscape of Silicon Valley. Kramlich’s death, as confirmed by his daughter Christina, caught his family—and the wider community—by surprise, particularly given that he had no protracted illness prior to his passing. Indeed, the loss of someone likened to a “warm, curious, ever-optimistic family leader” resonates deeply within the circles he influenced.
Charting New Waters in Venture Capital
Venture capitalism, as a profession, was still in its formative years when Kramlich embarked on his journey. He recognized the potential to merge financial backing with the innovation of tech entrepreneurs long before the role became mainstream. By investing his own funds in early technology companies like Apple, Kramlich displayed an audacity that few would match. With the establishment of NEA in 1977 alongside Chuck Newhall and Frank Bonsal, Kramlich positioned the firm to become a dominant force in the VC landscape within a few years, competing alongside giants like Sequoia Capital and Kleiner Perkins.
His acumen was particularly evident in the burgeoning field of computer networking. By providing early funding for pioneering companies such as 3Com, Kramlich was instrumental in the rise of Ethernet technology—a crucial component of modern internet infrastructure. The journey of 3Com exemplified Kramlich’s vision, as it ascended to a valuation exceeding $28 billion during the dot-com boom—a testament to his foresight and investment prowess.
Kramlich’s portfolio extended beyond just one successful investment; he was involved in multiple ventures that each played a significant role in shaping technology. His investments included notable companies like Macromedia and Juniper Networks, each altering their respective markets and contributing uniquely to the tech ecosystem. This diversity indicated a broad understanding of technology trends and highlighted Kramlich’s adaptability as an investor.
Notably, his ventures weren’t only limited to computer networks. Kramlich’s engagement in the field of fusion power through TAE Technologies exemplified his long-term vision for sustainable energy. His tenure on the board of TAE until the day he passed away solidified his belief in the importance of innovation aimed at solving global challenges.
Kramlich’s retirement from NEA in 2012 marked the end of an era, but his influence lingered, especially as NEA raised $2.6 billion for its 14th fund, an achievement that underscored the firm’s enduring strength. However, retirement did not signal the end of Kramlich’s commitment to venture capitalism. With the establishment of Green Bay Ventures in 2017, he continued to invest in transformative technology across multiple sectors, such as manufacturing and transportation.
This new initiative not only reflected Kramlich’s entrepreneurial spirit but also honored his Wisconsin roots—an acknowledgment of the humble beginnings that shaped his journey. The firm’s inception, alongside partners like Anthony Schiller and Casey Tatham, allowed Kramlich to impart his wisdom onto a new generation of investors, boasting the same optimism that characterized his earlier career.
Kramlich’s legacy extends beyond investments and financial successes; he was a mentor and inspiration to many, including Scott Sandell, NEA’s executive chairman. Sandell’s account of meeting Kramlich while pitching a startup illustrates how deeply Kramlich cared about fostering relationships. His natural charisma and undying optimism appealed not only to fellow venture capitalists but also to the entrepreneurs he supported. They revered him, not simply as an investor but as a kindred spirit who believed in their visions and dreams.
Survived by his wife Pam, his daughter Christina, and two others, Kramlich’s family represents the collaborative, optimistic essence he embraced throughout his life. As the industry reflects on his contributions, it is essential to remember that every investment he made wasn’t just about profit, but about fostering innovation and supporting the people behind those ideas. Dick Kramlich will be remembered not only for his successes but also for the warmth and generosity that defined his life and career.