Dick Kramlich is back. A cofounder of New Enterprise Associates (NEA), Kramlich is a partner in a new venture capital firm called Green Bay Ventures that will invest in early-stage startups at the intersection of technology and industries like energy, manufacturing, telecommunications, and transportation, VentureBeat has learned.
Based in San Francisco, the firm has already raised its first fund, which totals $130 million, a source familiar with the matter told VentureBeat. Earlier today the firm filed a regulatory filing for the fund. The firm declined to comment.
Kramlich is managing director of the firm alongside Anthony Schiller, the filing shows. For more than five years Schiller and Kramlich have invested out of Green Bay Advisors; investments include Dropbox, Lyft, Spotify, and Xiaomi, according to Schiller’s LinkedIn profile. The firm’s operations partner is Casey Tatham, who has also worked on Green Bay Advisors. Backers for the new venture firm include “some of the world’s most prominent families,” Schiller wrote on his LinkedIn page.
There certainly are other places where enterprise-focused startups can raise money. The thing is, Kramlich, a former chairman and president of the National Venture Capital Association, is one of Silicon Valley’s legendary investors.
Kramlich won’t be leaving his post as chairman at NEA, the source said. But he’s “very involved in the new fund,” and he intends to replicate the NEA model, the source said. NEA had just $16 million to invest when it started in 1977, and in 2015 it raised a $3.1 billion fund.