Enron Mail

To:kenneth.lay@enron.com, greg.whalley@enron.com, michael.miller@enron.com
Subject:Vanguard Venture Partners Energy Discussion
Date:Fri, 10 Nov 2000 00:01:00 -0800 (PST)

Dan Eilers of Vanguard Venture Partners contacted me last week to see if
Enron would be interested in a high level discussion of the changes occurring
in electricity generation and management technologies. Vanguard is an early
stage VC fund that helped create Ciena and Network Appliance. Dan is a new
partner and is looking at the energy market as a new focus for Vanguard.

He would like to have a brainstorming session with an eye on creating a
cooperative relationship between Vanguard and Enron for the evaluation and
development of new companies in the energy arena.

I would appreciate it if you could respond with your interest level so I
could arrange a time that is convenient for each of you to participate.


Mark Lay
Enron Investment Partners
333 Clay St., suite 3800
Houston, TX 77002
p 713-853-7408
f 713-345-7670
----- Forwarded by Mark Lay/HOU/ECT on 11/10/2000 07:52 AM -----

Dan Eilers <Dan@vanguardventures.com<
11/09/2000 08:44 PM

To: "'mark.lay@enron.com'" <mark.lay@enron.com<
cc: Bob Ulrich <bob@vanguardventures.com<
Subject: Energy investing...brainstorming and perspective sharing between
Vanguard Ventures and Enron...

Many thanks for meeting with Bob and I last week.
How ironic to find you working with one of my
graduate school classmates, Gene Humphrey.

As we discussed, Vanguard is interested in exploring
what kinds of opportunities may exist for venture
investment in the energy arena. We think that
the ultimate "internet (and everything) infrastructure" play is about clean,
always on, electrical power. While we are not experts in the area,
and are not yet certain it will be a productive area for venture
capital investment of the type Vanguard does, we feel
that there is a sufficient market need in multiple segments that
there MAY be such an investment opportunity which it
would make sense for us to pursue as an investment
focus area. This could have value for Enron should
we determine investment areas which are symbiotic
with Enron and which we could collaborate on, as we
help catalyze/create/fund exciting new companies.

As we discussed we would love to participate in a brainstorming and
perspective setting session with visionary and strategic Enron executives
have domain knowledge and an interest. Our potential interest areas span
from generation (alternatives, distributed, and conventional)
to transmission to distribution to storage...fixed and mobile.
We appreciate your offer to pull together an Enron group for such
a brainstorming...and I would be quite happy to fly down to
Houston again in order to engage in such a session.

As always we appreciate your interest in Vanguard.


Daniel Eilers
General Partner
Vanguard Ventures
525 University Avenue, Suite 600
Palo Alto, California 94301
Phone: (650) 321-2900 voice; (650) 321-2902 fax
Mobile: (415) 516-6360
Email: dan@vanguardventures.com