Dick Kramlich, a titan in the realm of venture capital and a co-founder of New Enterprise Associates (NEA), passed away unexpectedly at the age of 89. His daughter, Christina Kramlich, announced the news, revealing that his death came without warning and following a brief span without illness. Christina’s heartfelt statement highlighted her father’s role as a “warm, curious, ever-optimistic family leader,” setting the tone for the legacy he leaves behind—a blend of personal warmth and professional profoundness.
Kramlich was not just a venture capitalist; he was a forerunner who recognized the potent blend of technology and entrepreneurship well before the field gained its current prestige. Emerging in an era when few understood the potential of investing in tech startups, he laid the groundwork for what would eventually become a multibillion-dollar industry.
In an industry dominated by established entities like Sequoia Capital and Kleiner Perkins, Kramlich, alongside Chuck Newhall and Frank Bonsal, established NEA in 1977. Their vision was to empower entrepreneurs with financial backing, forecasting the transformative impact that technology would have on society. Kramlich made savvy investments early on, notably funding Apple before the company’s immense growth and success. His ability to identify potential was remarkable; he not only invested in companies but also nurtured their growth, ensuring a symbiotic relationship that enriched both parties.
One of Kramlich’s standout investments came when he backed 3Com, spearheaded by Bob Metcalfe, who aimed to commercialize Ethernet technology. Recognizing the budding significance of networking, Kramlich’s vision propelled 3Com into the limelight, as the company saw astronomical growth, peaking at over $28 billion during the dot-com boom. Such accomplishments highlight Kramlich’s foresight—seeing not just immediate gains, but also the long-term implications of burgeoning technologies.
Beyond the scope of 3Com, Kramlich’s investment portfolio was nothing short of remarkable. Companies such as Grand Junction and Force10 Networks worn the fruits of his strategic foresight, with both eventually being acquired by industry giants like Cisco and Dell, respectively. His knack for investing spanned various sectors, including companies like Macromedia and Juniper Networks, which played pivotal roles in shaping the digital landscape.
Moreover, Kramlich’s interests were not confined to a single domain; he ventured into pioneering areas such as fusion power through TAE Technologies, where he served on the board until his last days. His diverse investment strategy not only signified a robust understanding of market dynamics but also underscored the importance of adaptability and vision in venture capital.
In 2012, Kramlich stepped back from NEA, marking a significant transition in his career. However, he was far from finished. The creation of Green Bay Ventures in 2017 showcased his enduring commitment to innovation, as he shifted his focus toward technologies in manufacturing, energy, and logistics. The firm, named after his Wisconsin hometown, further reflects Kramlich’s deep-rooted connections to his origins and his desire to impact the American entrepreneurial landscape.
His collaborative approach with partners like Anthony Schiller and Casey Tatham underscored his trust in the next generation of investors, fostering an ecosystem where shared success was paramount. Kramlich’s legacy is not marked solely by financial success, but by his nurturing spirit, which influenced countless entrepreneurs and investors through the years.
The tribute from Scott Sandell, NEA’s executive chairman, encapsulated Kramlich’s essence perfectly. Described as beloved for his unwavering optimism and dedication, Kramlich carved a unique space in the hearts of those he worked with. His magnetic personality was more than just a facet; it was central to his success as it fostered a community built on trust and shared aspirations.
As the venture capital industry mourns the loss of Dick Kramlich, his contributions will resonate for years to come. He leaves behind not only a rich tapestry of successful investments and a thriving firm but also a legacy of kindness and encouragement. Survived by his wife Pam, daughter Christina, and children Rix and Mary Donna, Kramlich’s spirit will undoubtedly live on in the myriad lives he touched, both personally and professionally.