<PAGE>
-----------------------------------
OMB APPROVAL
-----------------------------------
OMB Number:............323-0145
-----------------------------------
UNITED STATES Expires: December 31, 1997
SECURITIES AND EXCHANGE COMMISSION Estimated average burden
Washington, D.C. 20549 hours per response........14.90
-----------------------------------
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1 )
----------
Landec Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
514766104
-------------------------------------------------------
(CUSIP Number)
*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).
Page 1 of 10 Pages
<PAGE>
- --------------------------------------------------------------------------------
CUSIP No. 514766100 SCHEDULE 13G Page 2 of 10 Pages
--------- ----- -----
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Chase Venture Capital Associates, L.P.
(f/k/a/ Chemical Venture Capital Associates, A California Limited
Partnership) 13-337-6808
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
California
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 1,306,817
SHARES BENEFICIALLY -------------------------------------------------------
OWNED BY 6 SHARED VOTING POWER
EACH 35,434
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH 1,306,817
-------------------------------------------------------
8 SHARED DISPOSITIVE POWER
35,434
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,342,251
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11.9%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
Page 2 of 10 Pages
<PAGE>
SCHEDULE 13G
------------
Issuer: Landec Corporation CUSIP Number: 514766100
- ------ ------------
- --------------------------------------------------------------------------------
Item 1.
(a) Name of Issuer:
---------------
Landec Corporation
(b) Address of Issuer's Principal Executive Offices:
------------------------------------------------
3603 Haven Avenue
Menlo Park, California 94025
Item 2.
(a) Name of Person Filing:
----------------------
Chase Venture Capital Associates, L.P. (f/k/a Chemical Venture
Capital Associates, A California Limited Partnership)
Supplemental information relating to the ownership and control
of the person filing this statement is included in Exhibit
2(a) attached hereto.
(b) Address of Principal Business Office or, if none, Residence:
------------------------------------------------------------
380 Madison Avenue, 12th Floor
New York, New York 10017
(c) Citizenship:
------------
See Row 4 on cover page
(d) Title of Class of Securities (of Issuer):
-----------------------------------------
Common Stock
(e) CUSIP Number:
-------------
See top of cover page
Item 3. If this statement is filed pursuant to Rule 13d-1(b) or 13d-2(b), check
whether the person filing is a:
Not applicable.
Item 4. Ownership
(a) Amount Beneficially Owned:
--------------------------
42,251.
This amount includes the following shares issuable upon the
exercise by Mitchell Blutt, M.D. and Damion E. Wicker, M.D.,
directors of the Issuer, of options granted to them by the
Issuer: (i) 3,478 shares issuable pursuant to options which
became exercisable at a rate of 1/48 monthly from December 14,
1993 so long as Dr. Blutt remains a director of the Issuer,
(ii) 3,478 shares issuable pursuant to options which became
exercisable at a rate of 1/4 at May 25, 1996 and 1/48 per
month thereafter so long as Dr. Blutt remains a director of
the Issuer, (iii) 5,000 shares issuable pursuant to options
which became
Page 3 of 10 Pages
<PAGE>
SCHEDULE 13G
------------
Issuer: Landec Corporation CUSIP Number: 514766100
- ------ ------------
- --------------------------------------------------------------------------------
exercisable at a rate of 1/4 at January 26, 1997 and 1/48 per
month thereafter as long as Dr. Blutt remains a director of
the Issuer, (iv) 3,478 shares issuable pursuant to options
granted to Dr. Wicker which are exercisable immediately, and
(v) 20,000 shares issuable pursuant to options which are
exercisable immediately so long as Dr. Wicker remains a
director of the Issuer. Drs. Blutt and Wicker are obligated to
exercise each of the foregoing options upon the request of the
Reporting Person and are obligated to transfer to the
Reporting Person all shares issued upon the exercise of any of
the foregoing options.
(b) Percent of Class:
-----------------
11.9%
(c) Number of shares as to which such person has:
---------------------------------------------
(i) 1,306,817
(ii) 35,434
(iii) 1,306,817
(iv) 35,434
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable.
Item 9. Notice of Dissolution of Group
Not applicable.
Item 10. Certification
Not applicable.
Page 4 of 10 Pages
<PAGE>
SCHEDULE 13G
------------
Issuer: Landec Corporation CUSIP Number: 514766100
- ------ ------------
- --------------------------------------------------------------------------------
SIGNATURE
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: February 13, 1998 CHASE VENTURE CAPITAL ASSOCIATES, L.P.
By: CHASE CAPITAL PARTNERS,
its General Partner
By: /s/ Jeffrey C. Walker
---------------------------------
Name: Jeffrey C. Walker
Title: Managing General Partner
Page 5 of 10 Pages
<PAGE>
SCHEDULE 13G
------------
Issuer: Landec Corporation CUSIP Number: 514766100
- ------ ------------
- --------------------------------------------------------------------------------
EXHIBIT 2(a)
------------
This statement is being filed by Chase Venture Capital Associates, L.P.
(f/k/a Chemical Venture Capital Associates, A California Limited Partnership)
(hereinafter referred to as "CVCA"), whose principal business office is located
at 380 Madison Avenue, 12th Floor, New York, New York 10017. The general partner
of CVCA is Chase Capital Partners (f/k/a Chemical Venture Partners), a New York
general partnership ("CCP"), whose principal business office is located at the
same address as CVCA.
Set forth below are the names of each general partner of CCP who is a
natural person. Each such general partner is a U.S. citizen, whose principal
occupation is general partner of CCP and whose principal business office address
(except for Mr. Soghikian) is c/o Chase Capital Partners, 380 Madison Avenue,
12th Floor, New York, New York 10017.
John R. Baron
Mitchell J. Blutt, M.D.
Arnold L. Chavkin
Michael R. Hannon
Donald J. Hofmann
Stephen P. Murray
John M. B. O'Connor
Brian J. Richmand
Shahan D. Soghikian
Jeffrey C. Walker
Damion E. Wicker, M.D.
Mr. Soghikian's principal business office address is c/o Chase Capital
Partners, 125 London Wall, London EC2Y5AJ, England.
Jeffrey C. Walker is the managing general partner of CCP. The remaining
general partners of CCP are Chase Capital Corporation (f/k/a Chemical Capital
Corporation), a New York corporation ("Chase Capital"), CCP Principals, L.P.
(f/k/a CVP Principals, L.P.), a Delaware limited partnership ("Principals") and
CCP European Principals, L.P., a Delaware limited partnership ("European
Principals"), each of whose principal business office is located at the same
address as CVCA. Chase Capital is a wholly-owned subsidiary of The Chase
Manhattan Corporation (f/k/a Chemical Banking Corporation), a Delaware
corporation. The general partner of each of Principals and European Principals
is Chase Capital. Set forth in Schedule A hereto and incorporated herein by
reference are the names, business addresses and principal occupations or
employments of each executive officer and director of Chase Capital, each of
whom is a U.S. citizen.
The Chase Manhattan Corporation ("Chase") is a Delaware corporation
engaged (primarily through subsidiaries) in the commercial banking business with
its principal office located at 270 Park Avenue, New York, New York 10017. Set
forth in Schedule B hereto and incorporated herein by reference are the names,
business addresses, principal occupations and employments of each executive
officer and director of Chase, each of whom is a U.S. Citizen.
Page 6 of 10 Pages
<PAGE>
SCHEDULE 13G
------------
Issuer: Landec Corporation CUSIP Number: 514766100
- ------ ------------
- --------------------------------------------------------------------------------
SCHEDULE A
----------
CHASE CAPITAL CORPORATION
-------------------------
Executive Officers
------------------
Chief Executive Officer William B. Harrison, Jr.*
President Jeffrey C. Walker**
Executive Vice President Mitchell J. Blutt, M.D.**
Vice President & Secretary Gregory Meridith*
Vice President George E. Kelts**
Assistant Secretary Robert C. Carroll*
Directors
---------
William B. Harrison, Jr.*
Jeffrey C. Walker**
- ----------
* Principal occupation is employee and/or officer of Chase. Business
address is c/o The Chase Manhattan Corporation, 270 Park Avenue, New
York, New York 10017.
** Principal occupation is employee of Chase and/or general partner of
CCP. Business address is c/o Chase Capital Partners, 380 Madison
Avenue, 12th Floor, New York, NY 10017.
Page 7 of 10 Pages
<PAGE>
SCHEDULE 13G
------------
Issuer: Landec Corporation CUSIP Number: 514766100
- ------ ------------
- --------------------------------------------------------------------------------
SCHEDULE B
----------
THE CHASE MANHATTAN CORPORATION
-------------------------------
Executive Officers*
------------------
Walter V. Shipley, Chairman
Thomas G. Labrecque, President
William B. Harrison, Jr., Vice Chairman
Donald L. Boudreau, Senior Executive Vice President
Marc Shapiro, Senior Executive Vice President
Joseph G. Sponholz, Senior Executive Vice President
Directors**
Principal Occupation or Employment;
Name Business or Residence Address
---- -----------------------------
Hans W. Becherer Chairman of the Board
Chief Executive Officer
Deere & Company
8601 John Deere Road
Moline, IL 61265
Frank A. Bennack, Jr. President and Chief Executive Officer
The Hearst Corporation
959 Eighth Avenue
New York, NY 10019
Susan V. Berresford President
The Ford Foundation
320 East 43rd Street
New York, NY 10017
M. Anthony Burns Chairman, President and CEO
Ryder System, Inc.
3600 N.W. S2nd Avenue
Miami, FL 33166
- --------
* Principal occupation is executive officer and/or employee of The Chase
Manhattan Bank. Business address is c/o The Chase Manhattan Bank, 270
Park Avenue, New York, New York 10017. Each executive officer of Chase
is a U.S. citizen.
** Each of the persons named below is a citizen of the United States of
America.
Page 8 of 10 Pages
<PAGE>
SCHEDULE 13G
------------
Issuer: Landec Corporation CUSIP Number: 514766100
- ------ ------------
- --------------------------------------------------------------------------------
Principal Occupation or Employment;
Name Business or Residence Address
---- -----------------------------
H. Laurance Fuller Chairman of the Board and
Chief Executive Officer
Amoco Corporation
200 East Randolph Drive
Chicago, IL 60601
Melvin R. Goodes Chairman of the Board and
Chief Executive Officer
Warner-Lambert Company
201 Tabor Road
Morris Plains, NJ 07950
William H. Gray, III President and Chief Executive Officer
The College Fund/UNCF
8260 Willow Oaks Corporate Drive
P.O. Box 10444
Fairfax, VA 22031
George V. Grune Chairman of the Board and Chief Executive Officer
The Reader's Digest Association, Inc.
Chairman of the Board
The DeWitt Wallace-Reader's Digest Fund
Lila Wallace-Reader's Digest Fund
Reader's Digest Road
Pleasantville, NY 10570
William B. Harrison, Jr. Vice Chairman of the Board
The Chase Manhattan Corporation
270 Park Avenue, 8th Floor
New York, NY 10017-2070
Harold S. Hook Retired Chairman of the Board
American General Corporation
2929 Allen Parkway
Houston, TX 77019
Helene L. Kaplan Of Counsel
Skadden, Arps, Slate, Meagher & Flom
919 Third Avenue-Room 29-72
New York, NY 10022
Thomas G. Labrecque President
The Chase Manhattan Corporation
270 Park Avenue, 8th Floor
New York, NY 10017-2070
Page 9 of 10 Pages
<PAGE>
SCHEDULE 13G
------------
Issuer: Landec Corporation CUSIP Number: 514766100
- ------ ------------
- --------------------------------------------------------------------------------
Principal Occupation or Employment;
Name Business or Residence Address
---- -----------------------------
Henry B. Schacht Retired Chairman of the Board and Chief Executive
Officer
Lucent Technologies, Inc.
600 Mountain Avenue - Room 6A511
Murray Hill, NJ 07974
Walter V. Shipley Chairman of the Board
The Chase Manhattan Corporation
270 Park Avenue, 8th Floor
New York, NY 10017-2070
Andrew C. Sigler Retired Chairman of the Board
and Chief Executive Officer
Champion International Corporation
1 Champion Plaza
Stamford, CT 06921
John R. Stafford Chairman, President and Chief
Executive Officer
American Home Products Corporation
Five Giralda Farms
Madison, NJ 07940
Marina v.N. Whitman Professor of Business Administration
and Public Policy
The University of Michigan
School of Public Policy
411 Lorch Hall, 611 Tappan Street
Ann Arbor, MI 48109-1220
Page 10 of 10 Pages