The world of venture capital has seen a plethora of influential figures over the decades, but few have had as profound an impact as Dick Kramlich. A co-founder of New Enterprise Associates (NEA), Kramlich’s journey began nearly 50 years ago when the modern landscape of tech-driven entrepreneurship was just beginning to take shape. Born in 1935 in Green Bay, Wisconsin, his early life in a family of innovation—his father a food chain pioneer and his mother an aeronautical engineer—set a precedent for the groundbreaking career that followed. Kramlich’s death on Saturday at the age of 89 leaves behind a rich legacy that continues to inspire generations of entrepreneurs and investors.
Kramlich entered the burgeoning venture capital scene at a time when many were unaware of the potential that technology held. His investment strategy was ahead of its time: he recognized the financial benefits of aligning with budding tech innovators and worked tirelessly to support their visions. His foresight led him to invest in Apple before establishing NEA in 1977 alongside Chuck Newhall and Frank Bonsal. This was not merely a business move; it was a commitment to fostering innovation that would ultimately change the world.
One of Kramlich’s most notable contributions to venture capital was his early investment in 3Com, a pioneering company that sought to commercialize Ethernet technology. In an age when computer networking was still finding its footing, Kramlich’s belief in this groundbreaking technology proved prescient. His financial involvement facilitated 3Com’s growth into a tech giant, soaring to a valuation of $28 billion during the dot-com boom. Despite the eventual decline of 3Com in the face of fierce competition from companies like Cisco, Kramlich’s role in its early success underscores his critical influence in the networking sector.
Kramlich’s attention to emerging technologies extended far beyond 3Com. Throughout his career, he nurtured other significant ventures, including Ascend Communications and Juniper Networks. His investments not only produced considerable financial returns but also played pivotal roles in the advancement of networking solutions that now serve as the backbone of modern communication infrastructures.
The influence of Kramlich was not confined to the walls of NEA; it radiated throughout Silicon Valley and beyond. His approach to investing was deeply rooted in relationships, optimism, and a belief in the potential of entrepreneurs. Scott Sandell, executive chairman of NEA, reminisced about the impact Kramlich had on countless individuals in the industry, describing his infectious spirit as one that inspired many to pursue their dreams.
By the time Kramlich retired from NEA in 2012, he had helped raise an astonishing $2.6 billion for the firm’s 14th fund. Yet, retirement did not mark the end of his philanthropic pursuits. In 2017, he co-founded Green Bay Ventures to continue investing in sectors such as manufacturing, energy, and transportation. This venture highlighted Kramlich’s enduring commitment to innovation and growth—an ethos that remained constant throughout his life.
More than just a venture capitalist, Kramlich was a passionate advocate for the entrepreneurs he invested in. His daughter, Christina Kramlich, pointed out his intrinsic qualities—warmth, curiosity, and optimism—that defined him as a person. These traits not only made him a beloved family member but also cemented his status as a cherished figure within the entrepreneurial community.
While his professional achievements are commendable, it is the human connections he fostered that will be remembered most vividly. Kramlich’s interactions with entrepreneurs were characterized by his availability and support, instilling confidence in those he mentored. His legacy, therefore, is not merely one of financial success but a testament to the power of empathy in business.
Dick Kramlich’s contributions to the world of venture capital are immeasurable, paired with a genuine commitment to uplifting those around him. As we reflect on his life’s work and the countless lives he touched, it is clear that his legacy will continue to inspire future generations of investors and innovators alike. Although the venture capital landscape will undoubtedly proceed, it is hard not to feel the void left by his absence. Kramlich’s spirit of optimism and dedication to fostering innovation serves as a beacon of hope as we navigate an ever-evolving technological future.