In the realm of Silicon Valley, few individuals have left as profound a mark as Dick Kramlich. His passing at the age of 89 leaves not just a vacancy in venture capital but a widespread recognition of the impact he made on technology entrepreneurship and investment. Co-founding New Enterprise Associates (NEA) almost fifty years ago, Kramlich was instrumental in shaping the landscape of venture capital long before it became the powerhouse entity we know today.
Kramlich’s journey began when the concept of venture capital was still in its infancy. His foresight enabled him to grasp the potential of investing in technology startups—especially during a time when such roles were largely undefined. Investing in Apple was one of his initial forays, leading him to worthily partner with legends like Chuck Newhall and Frank Bonsal. NEA’s inception in 1977 was not merely about funding; it was about nurturing innovation. The firm’s establishment came on the heels of giants like Sequoia Capital, positioning it to become one of the leading venture capital firms globally.
His significant investment in 3Com, which offered a means to commercialize Ethernet technology, exemplifies his ability to spot potential winners before they became the bedrock of modern networking. Kramlich’s early investments in computer networking technologies catalyzed his firm’s reputation, substantially contributing to the growth of groundbreaking companies that would define the Internet age.
Kramlich’s approach transcended mere financial benefit; it was also about creating opportunities for young entrepreneurs. The dot-com bubble was one such era where his investments paid off astronomically, as 3Com eventually peaked with a valuation exceeding $28 billion. However, Kramlich did not rest on his laurels—he continued to invest in transformative ventures, ranging from Grand Junction to Force10 Networks, thus marking the evolution of networking technologies.
In many instances, Kramlich’s investments went beyond just benefiting NEA; many aim to democratize access to technology. His investments in software companies like Macromedia and Juniper Networks broke new ground in their respective fields. Kramlich believed in fostering innovation that could change lives, making technology accessible through strategic financial backing.
Despite retiring from NEA in 2012, Kramlich’s enthusiasm for investing did not diminish. His passion led him to co-create Green Bay Ventures in 2017, where, alongside experienced partners, he aimed to target innovations in manufacturing, transportation, and energy. This initiative signaled that Kramlich was not merely content with past achievements but instead was committed to seeking out and nurturing the next wave of transformative technology. The firm drew its name from Kramlich’s Wisconsin roots, reinforcing his philosophy of staying grounded despite significant professional accomplishments.
The entrepreneurial spirit that Kramlich fostered throughout his life also extended to his family. Raised in a household that valued education and innovation—his mother was an aeronautical engineer and his father owned a food chain—Kramlich combined family values with his zeal for investment.
Scott Sandell, NEA’s executive chairman, described Kramlich as an individual whose optimism and resolve resonated with many. His ability to inspire those around him was a testament to his character. Kramlich attracted not only partners but also a legion of entrepreneurs who found a confidante and believer in Kramlich. The stories of those who interacted with him consistently point to his generosity and graciousness—not simply as a professional venture capitalist but as a mentor and guide.
Kramlich’s approach illuminated the venture capital space in a way that many aspire to replicate, positioning him not just as a pioneer but as a beloved figure in the entrepreneurial community.
As the venture capital environment continues to evolve, Kramlich’s legacy is sure to endure. His daughter, Christina, poignantly noted the loss of an optimistic family leader, echoing the sentiments of a grateful and mourning community. Kramlich is survived by his family, bringing forward a sense of personal loss that resonates beyond the professional realm.
The tributes from colleagues and entrepreneurs alike serve as proof that his impact extends well beyond his financial investments. Dick Kramlich not only fostered technological advancements but also shaped the lives of those he encountered—a true testament to a life spent not just accumulating wealth but enriching the world around him. He will be remembered not just as a venture capital titan but also as a pivotal figure in fostering the spirit of innovation that defines Silicon Valley today.