The venture capital community is mourning the loss of Dick Kramlich, who passed away recently at the age of 89. His death came unexpectedly, as confirmed by his daughter, Christina Kramlich. Unlike many who face prolonged illnesses, his passing came as a shock, leaving his family and colleagues to grapple with the suddenness of it all. Christina highlighted the profound loss felt by her family, stating that they had lost a “warm, curious, ever-optimistic family leader.” This sentiment underscores the impact Kramlich had, not just on his family, but on an entire industry that flourished under his innovation and guidance.
Pioneer of Venture Capital
Long before venture capitalism became a recognized field, Kramlich was one of the few who envisioned its potential. In 1977, he co-founded New Enterprise Associates (NEA) alongside Chuck Newhall and Frank Bonsal. This was a time when others like Sequoia Capital and Kleiner Perkins were just starting to carve out a name in Menlo Park, California. Kramlich was ahead of the curve. He recognized the rising tide of technological entrepreneurship and made the bold move to invest his own money into nascent tech companies, including an early stake in Apple.
His instinct and foresight led him to invest in 3Com, a pivotal moment in his career. Founded by Bob Metcalfe to commercialize Ethernet technology, 3Com quickly emerged as a beacon of success, going public in 1984 and peaking at a staggering valuation of over $28 billion during the dot-com boom. Kramlich’s investments didn’t just stop there; he had a knack for identifying technologies that would become central to networking and communication in the tech world. His portfolio included important players such as Macromedia, Ascend Communications, and Juniper Networks, showcasing his ability to spot opportunities that would define the digital landscape.
Kramlich’s contributions to networking technology were particularly significant. He invested in various companies that would become mainstays in the industry. One notable example is Force10 Networks, a data center networking solutions provider acquired by Dell in 2011. His understanding of the evolution of networking from its infancy to becoming the dominant protocol for internet communications was articulated by Kramlich himself in conversations about his career.
As a venture capitalist, he not only provided capital but also guided these companies as they evolved. His belief in the transformative power of technology set him apart from many in his field. Kramlich wasn’t just investing in businesses; he was investing in ideas that would change how the world connected and communicated.
After retiring from NEA in 2012—just as the firm raised $2.6 billion for its 14th fund—many would have rested on their laurels. However, Kramlich’s passion for investment never waned. He launched Green Bay Ventures in 2017, focusing on a range of industries including manufacturing, energy, and real estate. This pivot demonstrated that Kramlich was not just a participant in the technology revolution but an adaptive force, continuously seeking new frontiers.
The establishment of Green Bay Ventures allowed him to collaborate once more with Anthony Schiller and Casey Tatham, individuals he had entrusted with managing his family’s investments. By naming the firm after his hometown in Wisconsin, Kramlich seemingly honored his roots while simultaneously driving toward a future filled with opportunities.
Kramlich’s career trajectory is a testament to his relentless optimism, something that resonated deeply with his colleagues and fellow entrepreneurs. Scott Sandell, NEA’s executive chairman, captured the essence of Kramlich’s impact on the community, stating that many were drawn to the firm because of his unique warmth and determination. He was not only a businessman but also a mentor who cultivated a culture of perseverance amidst challenges.
Survived by his wife Pam, his daughter Christina, and his other children, Rix and Mary Donna, Kramlich leaves behind a legacy that transcends his individual achievements. His contributions helped lay the groundwork for the Silicon Valley we know today. As the venture capital landscape evolves, it will continue to feel the imprint of Kramlich’s innovative spirit, a guiding force for future generations of entrepreneurs and investors alike.
Through the lens of Kramlich’s life and career, we see not merely the narrative of a successful venture capitalist but the story of a visionary whose insights transformed modern technology and inspired countless others to take risks and pursue various dreams.