SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. ___)*
ARTHROCARE CORPORATION
-----------------------------------------
(Name of Issuer)
Common Stock
-----------------------------------------
(Title of Class of Securities)
043136 10 0
-----------------------------------------
(CUSIP Number)
Nancy McCroskey, CFO
Institutional Venture Partners
3000 Sand Hill Road, 2-290
Menlo Park, California 94025
(415) 854-0132
-----------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
April 25, 1997
-------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box
[ ].
NOTE: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
(Continued on following pages)
Page 1 of 19 Pages
<PAGE>
- -------------------------------- --------------------------------
CUSIP NO. 043136 10 0 13D Page 2 of 19 Pages
- -------------------------------- --------------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Institutional Venture Partners VII, L.P. ("IVP VII")
94-3244086
- -------- -----------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- --------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- --------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California (limited partnership)
- --------- ----------------- ----------------------------------------------------
7 SOLE VOTING POWER -0-
NUMBER --------- ----------------------------------------------------
OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,293,594 shares
OWNED BY EACH
REPORTING --------- ----------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER -0-
WITH --------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,293,594 shares
- --------- ----------------- ----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,293,594 shares
- --------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
14.7%
- --------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* PN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
<PAGE>
- -------------------------------- --------------------------------
CUSIP NO. 043136 10 0 13D Page 3 of 19 Pages
- -------------------------------- --------------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Institutional Venture Management VII, L.P. ("IVM VII")
94-3244085
- -------- -----------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- --------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- --------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California (limited partnership)
- --------- ----------------- ----------------------------------------------------
7 SOLE VOTING POWER -0-
NUMBER --------- ----------------------------------------------------
OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,293,594 shares
OWNED BY EACH
REPORTING --------- ----------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER -0-
WITH --------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,293,594 shares
- --------- ----------------- ----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,293,594 shares
- --------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
14.7%
- --------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* PN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
<PAGE>
- -------------------------------- --------------------------------
CUSIP NO. 043136 10 0 13D Page 4 of 19 Pages
- -------------------------------- --------------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
IVP Founders Fund I, L.P. ("FFI")
94-3231480
- -------- -----------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- --------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- --------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California (limited partnership)
- --------- ----------------- ----------------------------------------------------
7 SOLE VOTING POWER -0-
NUMBER --------- ----------------------------------------------------
OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,293,594 shares
OWNED BY EACH
REPORTING --------- ----------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER -0-
WITH --------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,293,594 shares
- --------- ----------------- ----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,293,594 shares
- --------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
14.7%
- --------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* PN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
<PAGE>
- -------------------------------- --------------------------------
CUSIP NO. 043136 10 0 13D Page 5 of 19 Pages
- -------------------------------- --------------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Institutional Venture Partners V, L.P. ("IVP V")
94-3139438
- -------- -----------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- --------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- --------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California (limited partnership)
- --------- ----------------- ----------------------------------------------------
7 SOLE VOTING POWER -0-
NUMBER --------- ----------------------------------------------------
OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,293,594 shares
OWNED BY EACH
REPORTING --------- ----------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER -0-
WITH --------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,293,594 shares
- --------- ----------------- ----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,293,594 shares
- --------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
14.7%
- --------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* PN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
<PAGE>
- -------------------------------- --------------------------------
CUSIP NO. 043136 10 0 13D Page 6 of 19 Pages
- -------------------------------- --------------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Institutional Venture Management V, L.P. ("IVM V")
94-3139437
- -------- -----------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- --------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- --------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California (limited partnership)
- --------- ----------------- ----------------------------------------------------
7 SOLE VOTING POWER -0-
NUMBER --------- ----------------------------------------------------
OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,293,594 shares
OWNED BY EACH
REPORTING --------- ----------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER -0-
WITH --------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,293,594 shares
- --------- ----------------- ----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,293,594 shares
- --------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
14.7%
- --------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* PN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
<PAGE>
- -------------------------------- --------------------------------
CUSIP NO. 043136 10 0 13D Page 7 of 19 Pages
- -------------------------------- --------------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Samuel D. Colella ("SDC")
###-##-####
- -------- -----------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- --------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- --------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States citizen
- --------- ----------------- ----------------------------------------------------
7 SOLE VOTING POWER 8,396 shares
NUMBER --------- ----------------------------------------------------
OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,295,094 shares
OWNED BY EACH
REPORTING --------- ----------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER 8,396 shares
WITH --------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,295,094 shares
- --------- ----------------- ----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,303,490 shares
- --------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
14.8%
- --------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* IN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
<PAGE>
- -------------------------------- --------------------------------
CUSIP NO. 043136 10 0 13D Page 8 of 19 Pages
- -------------------------------- --------------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Reid W. Dennis ("RWD")
###-##-####
- -------- -----------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- --------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- --------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States citizen
- --------- ----------------- ----------------------------------------------------
7 SOLE VOTING POWER 6,828 shares
NUMBER --------- ----------------------------------------------------
OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,293,594 shares
OWNED BY EACH
REPORTING --------- ----------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER 6,828 shares
WITH --------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,293,594 shares
- --------- ----------------- ----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,300,422 shares
- --------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
14.8%
- --------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* IN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
<PAGE>
- -------------------------------- --------------------------------
CUSIP NO. 043136 10 0 13D Page 9 of 19 Pages
- -------------------------------- --------------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mary Jane Elmore ("MJE")
###-##-####
- -------- -----------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- --------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- --------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States citizen
- --------- ----------------- ----------------------------------------------------
7 SOLE VOTING POWER 3,023 shares
NUMBER --------- ----------------------------------------------------
OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,293,594 shares
OWNED BY EACH
REPORTING --------- ----------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER 3,023 shares
WITH --------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,293,594 shares
- --------- ----------------- ----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,296,617 shares
- --------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
14.7%
- --------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* IN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
<PAGE>
- -------------------------------- --------------------------------
CUSIP NO. 043136 10 0 13D Page 10 of 19 Pages
- -------------------------------- --------------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norman A. Fogelsong ("NAF")
###-##-####
- -------- -----------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- --------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- --------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States citizen
- --------- ----------------- ----------------------------------------------------
7 SOLE VOTING POWER 5,263 shares
NUMBER --------- ----------------------------------------------------
OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,293,594 shares
OWNED BY EACH
REPORTING --------- ----------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER 5,263 shares
WITH --------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,293,594 shares
- --------- ----------------- ----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,298,857 shares
- --------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
14.8%
- --------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* IN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
<PAGE>
- -------------------------------- --------------------------------
CUSIP NO. 043136 10 0 13D Page 11 of 19 Pages
- -------------------------------- --------------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ruthann Quindlen ("RAQ")
###-##-####
- -------- -----------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- --------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- --------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States citizen
- --------- ----------------- ----------------------------------------------------
7 SOLE VOTING POWER 260 shares
NUMBER --------- ----------------------------------------------------
OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,293,594 shares
OWNED BY EACH
REPORTING --------- ----------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER 260 shares
WITH --------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,293,594 shares
- --------- ----------------- ----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,293,854 shares
- --------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
14.7%
- --------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* IN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
<PAGE>
- -------------------------------- --------------------------------
CUSIP NO. 043136 10 0 13D Page 12 of 19 Pages
- -------------------------------- --------------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
L. James Strand "(LJS")
###-##-####
- -------- -----------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- --------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- --------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States citizen
- --------- ----------------- ----------------------------------------------------
7 SOLE VOTING POWER 1,000 shares
NUMBER --------- ----------------------------------------------------
OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,293,594 shares
OWNED BY EACH
REPORTING --------- ----------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER 1,000 shares
WITH --------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,293,594 shares
- --------- ----------------- ----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,294,594 shares
- --------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
14.7%
- --------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* IN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
<PAGE>
- -------------------------------- --------------------------------
CUSIP NO. 043136 10 0 13D Page 13 of 19 Pages
- -------------------------------- --------------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
T. Peter Thomas ("TPT")
###-##-####
- -------- -----------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- --------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- --------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States citizen
- --------- ----------------- ----------------------------------------------------
7 SOLE VOTING POWER 4,663 shares
NUMBER --------- ----------------------------------------------------
OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,293,594 shares
OWNED BY EACH
REPORTING --------- ----------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER 4,663 shares
WITH --------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,293,594 shares
- --------- ----------------- ----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,298,257 shares
- --------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
14.8%
- --------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* IN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
<PAGE>
- -------------------------------- --------------------------------
CUSIP NO. 043136 10 0 13D Page 14 of 19 Pages
- -------------------------------- --------------------------------
- --------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Geoffrey Y. Yang ("GYY")
###-##-####
- -------- -----------------------------------------------------------------------
2 CHECK APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------- ----------------------------------------------------------------------
3 SEC USE ONLY
- --------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS* WC
- --------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- --------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States citizen
- --------- ----------------- ----------------------------------------------------
7 SOLE VOTING POWER 4,531 shares
NUMBER --------- ----------------------------------------------------
OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,293,594 shares
OWNED BY EACH
REPORTING --------- ----------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER 4,531 shares
WITH --------- ----------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,293,594 shares
- --------- ----------------- ----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,298,125 shares
- --------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
14.8%
- --------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* IN
- --------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- -------------------------------- --------------------------------
<PAGE>
Page 15 of 19 Pages
<TABLE>
Item 1: Security and Issuer
<S> <C>
(a) Issuer: Arthrocare Corporation ("The Issuer")
(b) Address of Principal
Executive Office: 595. N. Pastoria
Sunnyvale, CA 94086
(c) Title of Class of Securities: Common Stock
(d) CUSIP Number: 043136 10 0
Item 2: Identity and Background
(a) Name of Persons Filing: Institutional Venture Partners VII ("IVP VII")
Institutional Venture Management VII ("IVM VII")
IVP Founders Fund I ("FFI")
Institutional Venture Partners V ("IVP V")
Institutional Venture Management V ("IVM V")
Samuel D. Colella ("SDC")
Reid W. Dennis ("RWD")
Mary Jane Elmore ("MJE")
Norman A. Fogelsong ("NAF")
Ruthann Quindlen ("RAQ")
L. James Strand ("LJS")
T. Peter Thomas ("TPT")
Geoffrey Y. Yang ("GYY")
IVM V is the General Partner of IVP V. SDC, RWD, MJE, NAF, TPT, & GYY are
General Partners of IVM V. IVM VI is the General Partner of FFI. IVM VII is the
General Partner of IVP VII. SDC, RWD, MJE, NAF, RAQ, LJS, TPT, & GYY are General
Partners of IVM VI and IVM VII.
(b) Principal Business Address: 3000 Sand Hill Road
Building 2, Suite 290
Menlo Park, California 94025
(c) Principal Business/Principal/Name of Employer:
Entities
IVP VII and IVP V: Venture Capital Fund
IVM VII: Venture Capital Fund and General Partner of IVP VII
IVM V: Venture Capital Fund and General Partner of IVP V
FFI: Venture Capital Fund
Individuals
SDC, RWD, MJE, NAF, TPT, GYY: Venture Capitalist and General Partner of IVM VII & IVM V
RAQ, LJS: Venture Capitalist and General Partner of IVM VII
(d) Criminal convictions: None
(e) Civil Adjudication of Violation of Securities Laws: None
<PAGE>
Page 16 of 19 Pages
(f) Citizenship/Place of Organization:
Entities
IVP VII, IVM VII, FFI, IVP V, IVM V: California
Individuals
SDC, RWD, MJE, NAF, RAQ, LJS, TPT, GYY: United States
</TABLE>
<TABLE>
Item 3: Source and Amount of Funds or Other Consideration
<CAPTION>
Date Type of transaction Purchaser # Shares $ Amount Source of Funds
- ---- ------------------- --------- -------- -------- ---------------
(post-IPO split)
<S> <C> <C> <C> <C> <C>
IVP VII/IVM VII/FFI:
11/5-11/21/96 Open Market Purchases IVP/IVM/FFI 22,500 $209,063 IVP VII/IVM VII/FFI Inv. Cap.
2/11-2/28/97 Open Market Purchases IVP/IVM/FFI 124,000 $1,142,253 "
4/25/97 Open Market Purchase IVP/IVM/FFI 87,500 $535,938 "
IVP V/IVM V:
1/20/94 Series B Preferred from Issuer IVP V 490,000 $1,568,000 IVP V Investment Cap.
2/1/94 Series B Preferred from Issuer IVP V 30,625 $98,000 "
3/31/95 Series C Preferred from Issuer IVP V 490,000 $1,960,000 "
10/16/95 Series D Preferred from Issuer IVP V 177,815 $1,066,887 "
8/5/96 Pro-rata distribution to Partners IVP V -150,000
1/20/94 Series B Preferred from Issuer IVM V 10,000 $32,000 IVM V Investment Cap.
2/1/94 Series B Preferred from Issuer IVM V 625 $2,000 "
3/31/95 Series C Preferred from Issuer IVM V 10,000 $40,000 "
10/16/95 Series D Preferred from Issuer IVM V 3,629 $21,774 "
8/5/96 Distribution from IVP V IVM V 31,500
8/5/96 Pro-rata distribution to Partners IVM V -34,600
SDC:
2/5/96 Open Market Purchase (IPO) SDC 3,000 $42,000 SDC investment capital
2/5/96 Open Market Purchase (IPO) SDC 1,000 $14,000 SDC Family Ptrs Inv Cap
8/5/96 Distribution from IVM V SDC 5,396 SDC
8/5/96 Distribution from IVM V SDC 500 SDC Family Ptrs
RWD:
8/5/96 Distribution from IVM V RWD 6,828 RWD
MJE:
8/5/96 Distribution from IVM V MJE 3,023 MJE
NAF:
8/5/96 Distribution from IVM V NAF 5,263 NAF
RAQ:
8/5/96 Distribution from IVM V RAQ 260 RAQ
LJS:
2/5/96 Open Market Purchase (IPO) LJS 1,000 $14,000 LJS investment capital
TPT:
8/5/96 Distribution from IVM V TPT 4,663 TPT
GYY:
8/5/96 Distribution from IVM V GYY 4,531 GYY
</TABLE>
<PAGE>
Page 17 of 19 Pages
Item 4: Purpose of Transaction
The purpose of the purchases and acquisitions reported in Item 3 was investment.
The Reporting Persons set forth in Item 2 hold a significant percentage of the
Common Stock of Issuer, and, as stockholders, collectively have a voice in the
formulation of Issuer's policy and business strategy. All Reporting Persons may
make additional purchases of Common Stock, may sell some or all of the shares of
Common Stock they currently own, or may distribute some or all of such stock to
their respective partners, depending on their evaluation of the Issuer's
business prospects and financial position, the market for such stock, general
business and stock market conditions and other factors.
None of the Reporting Persons set forth in Item 2 has any plan or proposal
relating to, or which would result in, any event described in (a) - (j) of the
instructions to this Item 4.
Item 5: Interest in Securities of the Issuer
(a)-(b) Ownership: See cover sheets above
(c) Recent transactions: See Item 3 above
(d) Certain rights: Under certain circumstances set
forth in IVP VII's, IVM VII',
FFI's, IVP V's, and IVM V's Limited
Partnership Agreements, the General
Partners and Limited Partners of
each of such funds have the right
to receive dividends from, or
proceeds from the sale of, the
Common Stock of Issuer owned by
each such fund.
(e) Ownership below five percent (5%): n/a
Item 6: Contracts, Arrangements, Understandings, or Relationships with Respect
to Securities of the Issuer
To the best knowledge of the undersigned, there are no contracts, arrangements,
understandings or relationships (legal or otherwise) among the persons named in
Item 2 and between such persons and any person with respect to any securities of
the Issuer, including but not limited to transfer or voting of any of the
securities, finder's fees, joint ventures, loan or option agreements, puts or
calls, guarantees of profits, division of profits or loss, or the giving or
withholding of proxies.
Item 7: Exhibits
Exhibit A: Joint Filing Statement
<PAGE>
Page 18 of 19 Pages
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Date: April 25, 1997
INSTITUTIONAL VENTURE PARTNERS VII INSTITUTIONAL VENTURE MANAGEMENT VII
By its General Partner,
Institutional Venture Management VII
- ------------------------------------ ------------------------------------
Samuel D. Colella, General Partner Samuel D. Colella, General Partner
INSTITUTIONAL VENTURE PARTNERS V INSTITUTIONAL VENTURE MANAGEMENT V
By its General Partner,
Institutional Venture Management V
- ------------------------------------ ------------------------------------
Samuel D. Colella, General Partner Samuel D. Colella, General Partner
IVP FOUNDERS FUND I
By its General Partner,
Institutional Venture Management VI
- ------------------------------------
Samuel D. Colella, General Partner
- ------------------------------------
Samuel D. Colella
- ------------------------------------
Reid W. Dennis
- ------------------------------------
Mary Jane Elmore
- ------------------------------------
Norman A. Fogelsong
- ------------------------------------
Ruthann Quindlen
- ------------------------------------
L. James Strand
- ------------------------------------
T. Peter Thomas
- ------------------------------------
Geoffrey Y. Yang
<PAGE>
Page 19 of 19 Pages
Exhibit A: Joint Filing Statement
We, the undersigned, hereby express our agreement that the attached
Schedule 13D is filed on behalf of each of us.
Date: April 25, 1997
INSTITUTIONAL VENTURE PARTNERS VII INSTITUTIONAL VENTURE MANAGEMENT VII
By its General Partner,
Institutional Venture Management VII
- ------------------------------------ ------------------------------------
Samuel D. Colella, General Partner Samuel D. Colella, General Partner
INSTITUTIONAL VENTURE PARTNERS V INSTITUTIONAL VENTURE MANAGEMENT V
By its General Partner,
Institutional Venture Management V
- ------------------------------------ ------------------------------------
Samuel D. Colella, General Partner Samuel D. Colella, General Partner
IVP FOUNDERS FUND I
By its General Partner,
Institutional Venture Management VI
- ------------------------------------
Samuel D. Colella, General Partner
- ------------------------------------
Samuel D. Colella
- ------------------------------------
Reid W. Dennis
- ------------------------------------
Mary Jane Elmore
- ------------------------------------
Norman A. Fogelsong
- ------------------------------------
Ruthann Quindlen
- ------------------------------------
L. James Strand
- ------------------------------------
T. Peter Thomas
- ------------------------------------
Geoffrey Y. Yang
