Market Data 
- Richard “Dick” Kramlich made one of the earliest investments in Apple.
- He cofounded NEA in 1977, which now has nearly $26 billion in assets under management.
- Kramlich also led investments in Juniper Networks, Macromedia, , Immunex, and Xoom.
Charles Richard “Dick” Kramlich, cofounder of VC giant New Enterprise Associates and a godfather of venture capital, passed away on February 1st at the age of 89, according to a representative for NEA.
“Our industry has lost a legend, and we have lost a cherished friend,” stated a letter sent from NEA to the firm’s contacts. “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.”
Kramlich helped start NEA in 1977 and was the firm’s managing partner for its first seven funds. He helped grow the firm to become one of the biggest in Silicon Valley, backing companies like Robinhood, Databricks, and Plaid.
Today, NEA has nearly $26 billion in assets under management, according to Pitchbook.
After Kramlich stepped away from most of his duties at NEA, he raised $130 million for a new firm in 2017, Green Bay Ventures, to focus on early-stage enterprise tech startups. Green Bay has made venture investments in Spotify, Dropbox, Lyft, and Databricks, according to PitchbBook.
Those who worked with Kramlich have been paying tribute to him on social media.
“He was a true believer in the magic of Silicon Valley and the power of optimism and long-term partnerships,” Jon Sakoda, founding partner of Decibel and former partner at NEA, wrote on Linkedin. “He showed up for his companies in good times and bad, and found a way to do so with a smile. Along the way, he helped shape our profession by teaching us the importance of putting founders first.”
“He was one of those rare people who saw the future before it arrived,” Nada Hosking, a startup advisor and investor wrote on X. “He took risks on ideas that seemed insane at the time. Without visionaries like him, the tech world wouldn’t be what it is today.”
Here’s the full letter NEA sent to its limited partners, employees, and portfolio companies:
“Dear partners, colleagues, and friends of NEA,
With heavy hearts, we are reaching out to share 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 our first seven funds and a General Partner through NEA 13, Dick was instrumental in many of NEA’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. We know many of you will want to honor Dick’s extraordinary life and incredible impact on innovation and entrepreneurship, and we will share additional details as soon as they are available.”
