Message-ID: <28846535.1075840222430.JavaMail.evans@thyme> Date: Fri, 10 Nov 2000 00:01:00 -0800 (PST) From: mark.lay@enron.com To: kenneth.lay@enron.com, greg.whalley@enron.com, michael.miller@enron.com Subject: Vanguard Venture Partners Energy Discussion Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Mark Lay X-To: Kenneth Lay, Sherri L Reinartz@Enron, Karen S Owens@ees, Greg Whalley, Michael L Miller X-cc: X-bcc: X-Folder: \Kenneth_Lay_Dec2000\Notes Folders\All documents X-Origin: LAY-K X-FileName: klay.nsf 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. Thanks, Mark 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 11/09/2000 08:44 PM To: "'mark.lay@enron.com'" cc: Bob Ulrich 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 who 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. Best, 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 http://www.vanguardventures.com