Remembering Dick Kramlich

Dear partners, colleagues and friends of NEA,

With heavy hearts, we are sharing the news that Charles Richard “Dick” Kramlich, beloved co-founder of NEA and one of venture capital’s most enduring and influential figures, passed away on February 1 at the age of 89. Our industry has lost a legend, and we have lost a cherished friend.

A true pioneer of venture capital, Dick’s investing career began in 1969 as a general partner at Arthur Rock & Co. He was captivated by innovation and entrepreneurship, and eager to help shape the nascent venture capital industry. When he co-founded NEA with Chuck Newhall and Frank Bonsal in 1977, the trio set out to form a “100-year partnership”—an enduring institution that would span many funds and flourish long into the future, built upon shared goals, shared values, and shared rewards. That guiding principle would shape NEA’s evolution and success not only during the co-founders’ tenures, but through numerous successive leadership transitions in the decades ahead.

As a Managing Partner for NEA’s first seven funds and a General Partner through NEA 13, Dick was instrumental in many of the firm’s most successful outcomes over many years. He led investments in seminal companies like Juniper Networks, Macromedia, Ascend Communications, Immunex, Xoom, Financial Engines, and many others; he was also among the earliest investors in Apple. Yet the true magnitude of his impact is rooted in his visionary leadership, his relentless curiosity, and his hallmark tenacity.  He was a true champion for entrepreneurs, and that long-term perspective combined with his stalwart conviction was integral to the success of many of his investments.

Dick once said, “A lot of people think venture capital is a game of numbers. It’s not—it’s a game of courage.” That wisdom continues to resonate within our firm today, serving as a guiding ethos as we navigate inevitable challenges, not only in the day-to-day business of investing but as we continue to evolve our firm and industry for generations to come. Without question, Dick’s legacy will be an enduring one—he had a profound impact not only on venture capital, but on the dozens of companies he helped build and the countless entrepreneurs and investors he mentored along the way.

Fittingly, he was the recipient of countless honors including lifetime achievement awards from the National Venture Capital Association and the Haas School of Business at UC Berkeley. Even after retiring from NEA in 2012, he continued to actively invest as a co-founder of Green Bay Ventures and as CEO of Kramlich Investment Group. In partnership with his wife Pamela, Dick was also a prolific art patron and collector—together they built one of the world’s most pioneering collections of media art comprising more than 150 video, film, and media installation works.

In addition to his wife Pamela, Dick is survived by his children Christina, Richard, and Mary Donna, and many grandchildren—all of whom he adored beyond measure. Our thoughts are with all of them in their grief, and we hope they are comforted by the profound impact he had on so many.

Those of us who worked alongside him will be forever grateful for his countless contributions, and we will continue to celebrate his many achievements—along with his wisdom, integrity, and humility—for decades to come.

With warmest regards,
Scott Sandell, Tony Florence, and Mohamad Makhzoumi