Venture Capitalists and the Art World

New Enterprise Associates situated in Sand Hill Road in Menlo Park, California, flips high tech businesses — from unprofitable to profitable. Richard Kramlich and his wife, Pamela Kramlich are avid art collectors of video art, prints and photography — which they adorn their home and office walls with. Although Richard’s expertise lies in technology, his wife takes the lead in acquiring the artworks with her art history degree from the University of California, Berkeley.

CEO of Partech Venture, a venture capitalist firm led by Vincent Worm, is also a key player in the art world on the west coast. His art foundation, Kadiff, houses 12000 works of art in his collection and funds many public art spaces locally in San Francisco and internationally in Paris. Worm sees the connection between art and the tech world, which are both run by innovators, “who want to change the way you look at the world.”

Venture capitalists have the greatest prominence in the art world in California, with many members sitting on the board of San Francisco’s Museum of Modern Art. The trustees managed to raise USD 610 million to find for the building’s construction and endowment.

There is a link between the mindset of art investors and venture capitalists. Both aim to get in on the game early, discovering the seemingly intangible before others. Venture capitalists also operate in a similar way as do art dealers — mentoring and funding the next big thing.