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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Chase Venture Capital Associates, LLC ("CVCA, LLC") (FN 1)
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(Last) (First) (Middle)
c/o Chase Capital Partners
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(Street)
380 Madison Avenue, 12th Floor
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(City) (State) (Zip)
New York, New York 10017
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2. Date of Event Requiring Statement (Month/Day/Year)
1/1/2000
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3. IRS Identification Number of Reporting Person, if an entity (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
ITXC Corp. ("ITXC")
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
|_| Director |X| 10% Owner
|_| Officer (give title below) |_| Other (specify below)
________________________________________
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6. If Amendment, Date of Original (Month/Day/Year)
9/27/99
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7. Individual or Joint/Group Filing (Check applicable line)
|_| Form filed by One Reporting Person
|X| Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the Form is filed by more than one Reporting Person see instruction
5(b)(v).
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FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<CAPTION>
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5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
(FN 3)
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<S> <C> <C> <C> <C> <C> <C> <C>
Series B Convertible
Preferred Stock N/A N/A Common Stock 1,361,290 1 for 1 D
(FNs 1 and 2) (FNs 1 and 2)
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Series C Convertible 870,138
Preferred Stock N/A N/A Common Stock (FNs 1 and 2) 1 for 1 D
(FNs 1 and 2)
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</TABLE>
Explanation of Response:
(1) Pursuant to an internal reorganization effective as of January 1, 2000, (i)
Chase Venture Capital Associates, LLC ("CVCA, LLC") became the successor to
Chase Venture Capital Associates, LP ("CVCA, LP"), (ii) CCP-SBIC Manager, LLC, a
newly organized wholly-owned subsidiary of Chase Capital Partners ("CCP"),
became the managing member of CVCA, LLC, and (iii) CCP-CMC Consolidating, LLC
("Consolidating"), a newly-organized affiliate of CCP, became the non-managing
member of CVCA, LLC. CCP is the managing member of Consolidating, and pursuant
to a master advisory agreement with CCP-SBIC Manager, LLC and Consolidating, the
manager, by delegation, of CVCA, LLC. Prior to the internal reorganization, CCP
was the general partner, and the sole shareholder of Consolidating was the
limited partner, of CVCA, LP. The internal reorganization changed CVCA, LP's
name and form of organization but did not alter the proportionate interests of
its ultimate security holders.
(2) Prior to the closing of the initial public offering of ITXC Corp. ("ITXC")
each share of Common Stock was divided into two shares of Common Stock; upon the
closing of the initial public offering of ITXC, the shares of Convertible
Preferred Stock were automatically converted into Common Stock on a 2 for 1
basis.
(3) Does not include securities owned by Flatiron Associates LLC (f/k/a Friends
of Flatiron, LLC), Flatiron Fund 1998/99, LLC and Flatiron Partners LLC
(collectively, the "Flatiron Investors") and/or affiliates of the Flatiron
Investors (collectively, the "Flatiron Group"). The Flatiron Group and
affiliates of CVCA, LLC (the "Chase Entities") are parties to co-investment
arrangements pursuant to which they have agreed to a venture capital investment
program for the purpose of making private investments primarily in the equity
and equity-related securities of early stage Internet companies (the "Program").
In substance, the Program is similar to a typical venture capital investment
firm, with certain Flatiron Investors receiving the equivalent of a standard
carried interest from the Chase Entities. Upon the occurrence of certain
contingencies that are outside the control of the Chase Entities, certain Chase
Entities may acquire a pecuniary interest in the investments made by the
Flatiron Investors. The Flatiron Investors own 296,188 shares of the Series B
Convertible Preferred Stock and 223,256 shares of Series C Convertible Preferred
Stock of the Issuer. None of the Chase Entities presently has any beneficial or
pecuniary interest in those shares. Fred Wilson, a director of ITXC, is the
manager of the Flatiron Group. I. Robert Greene, a principal of the Flatiron
Group, is a former partner of an affiliate of CVCA, LLC.
(4) Notwithstanding the foregoing, each of the Chase Entities and CVCA, LLC
disclaims beneficial ownership of the Issuer's securities held by the Flatiron
Investors; accordingly, the filing of this form shall not be construed as an
admission that the Chase Entities or CVCA, LLC are the beneficial owners of such
securities.
Chase Manhattan Capital, LLC
** Signature of Reporting Person
By: Chase Capital Partners, as Manager
By: /s/
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Title:
------------------ of Chase Capital Partners 2/ /2000
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Date
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<CAPTION>
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Title of
Derivative
Date of Title and Securities and Ownership Nature of Disclaims
Name and Address Designated Event Issuer Name, Amount of Title and Form: Indirect Pecuniary
of Reporting Reporter(1) Requiring Ticker Security Amount of Direct (D) or Beneficial Interest
Person Statement or Trading Symbol Securities Indirect (I) Ownership
Underlying
Derivative
Securities
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
John R. Baron Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
c/o Chase Capital 2000 ("ITXC") above Note 2 below
Capital Partners Associates,
380 Madison LLC
Avenue 12th Floor
New York, NY
10017
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Chris C. Behrens Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
c/o Chase Capital 2000 ("ITXC") above Note 2 below
Capital Partners Associates,
380 Madison LLC
Avenue 12th Floor
New York, NY
10017
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Mitchell J. Blutt Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
c/o Chase Capital 2000 ("ITXC") above Note 2 below
Capital Partners Associates,
380 Madison LLC
Avenue 12th Floor
New York, NY
10017
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Arnold L. Chavkin Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
c/o Chase Capital 2000 ("ITXC") above Note 2 below
Capital Partners Associates,
380 Madison LLC
Avenue 12th Floor
New York, NY
10017
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Eric Green Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory Yes
c/o Chase Capital 2000 ("ITXC") above Note 2 below
Capital Partners Associates,
380 Madison LLC
Avenue 12th Floor
New York, NY 100
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Michael R. Hannon Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
c/o Chase Capital 2000 ("ITXC") above Note 2 below
Capital Partners Associates,
380 Madison LLC
Avenue 12th Floor
New York, NY
10017
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Donald J. Hofmann Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
c/o Chase Capital 2000 ("ITXC") above Note 2 below
Capital Partners Associates,
380 Madison LLC
Avenue 12th Floor
New York, NY
10017
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<TABLE>
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Stephen P. Murray Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
c/o Chase Capital 2000 ("ITXC") above Note 2 below
Capital Partners Associates,
380 Madison LLC
Avenue 12th Floor
New York, NY
10017
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John M.B. Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
O'Connor Capital 2000 ("ITXC") above Note 2 below
C/o Chase Associates,
Capital Partners LLC
380 Madison
Avenue 12th Floor
New York, NY
10017
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Susan L. Segal Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory Yes
c/o Chase Capital Capital 2000 ("ITXC") above Note 2 below
Partners Associates,
380 Madison LLC
Avenue
12th Floor
New York, NY
10017
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Shahan D. Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
Soghikian Capital 2000 ("ITXC") above Note 2 below
c/o Chase Associates,
Capital LLC
Partners
50 California
Street, Suite
2940
San Francisco,
CA 94111
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Jeffrey C. Walker Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
c/o Chase Capital 2000 ("ITXC") above Note 2 below
Capital Partners Associates,
380 Madison LLC
Avenue 12th Floor
New York, NY
10017
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Timothy J. Walsh Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
c/o Chase Capital 2000 ("ITXC") above Note 2 below
Capital Partners Associates,
380 Madison LLC
Avenue
12th Floor
New York, NY
10017
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Richard D. Waters Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory Yes
c/o Chase Capital 2000 ("ITXC") above Note 2 below
Capital Partners Associates,
380 Madison LLC
Avenue 12th Floor
New York, NY
10017
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</TABLE>
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Damion E. Wicker Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
c/o Chase Capital 2000 ("ITXC") above Note 2 below
Capital Partners Associates,
380 Madison LLC
Avenue 12th Floor
New York, NY
10017
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CCP European Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
Principals, LLC Capital 2000 ("ITXC") above Note 2 below
c/o Chase Associates,
Capital Partners LLC
380 Madison
Avenue 12th Floor
New York, NY
10017
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CCP Principals, Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
LLC c/o Chase Capital 2000 ("ITXC") above Note 2 below
Capital Partners Associates,
380 Madison LLC
Avenue 12th Floor
New York, NY
10017
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Chase Capital Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
Corporation Capital 2000 ("ITXC") above Note 2 below
(f/k/a Chemical Associates,
Capital LLC
Corporation)
c/o Chase
Capital Partners
380 Madison
Avenue 12th Floor
New York, NY
10017
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The Chase Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
Manhattan Capital 2000 ("ITXC") above Note 3 below
Corporation Associates,
270 Park Avenue LLC
35th Floor
New York, NY
10017
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Chase Capital Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
Partners Capital 2000 ("ITXC") above Note 4 below
380 Madison Associates,
Avenue 12th Floor LLC
New York, NY
10017
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CCP-SBIC Manager Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
LLC Capital 2000 ("ITXC") above Note 5 below
c/o Chase Capital Associates,
Partners LLC
380 Madison
Avenue 12th Floor
New York, NY
10017
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
CCP-CMC Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
Consolidating, Capital 2000 ("ITXC") above Note 6 below
LLC Associates
c/o Chase LLC
Capital Partners
380 Madison
Avenue 12th Floor
New York, NY
10017
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I. Robert Greene Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
c/o Flatiron Capital 2000 ("ITXC") above Note 7 below
Partners Associates,
257 Park Avenue LLC
South 12th Floor
New York, NY
10010
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Brian J. Richmand Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
c/o Chase Capital 2000 ("ITXC") above Note 8 below
Capital Partners Associates,
380 Madison LLC
Avenue
12th Floor
New York, NY
10017
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Jonas Steinmann Chase Venture January 1, ITXC Corp. See Table II N/A I See Explanatory No
c/o Chase Capital 2000 ("ITXC") above Note 9 below
Capital Partners Associates,
380 Madison LLC
Avenue 12th Floor
New York, NY
10017
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</TABLE>
Explanatory Note:
1) The Designated Reporter is executing this report on behalf of all reporting
persons, each of whom has authorized it to do so.
2) The amounts shown in Table II represents the beneficial ownership of the
Issuer's equity securities by CVCA, LLC, a portion of which may be deemed
attributable to the reporting person because the reporting person is a partner
of Chase Capital Partners ("CCP"), which is the sole managing member of (a)
CCP--SBIC Manager, LLC ("CCP-SBIC"), the sole managing member of CVCA, LLC and
(b) CCP-CMC Consolidating, LLC, the non-managing member of CVCA, LLC. CCP is
also the manager, by delegation, of CVCA, LLC, pursuant to an advisory agreement
with CCP-SBIC Manager, LLC and Consolidating. The actual pro rata portion of
such beneficial ownership that may be deemed to be attributable to the reporting
person is not readily determinable because it is subject to several variables,
including the internal rate of return and vesting of interests within CCP and
CVCA, LLC.
3) The amounts shown in Table II represents the beneficial ownership of the
Issuer's equity securities by CVCA, LLC, a portion of which may be deemed
attributable to the reporting person because it is the sole stockholder of Chase
Capital Corporation, a general partner of CCP, the sole managing member of the
two members of CVCA, LLC and the manager, by delegation, of CVCA, LLC. The
actual pro rata portion of such beneficial ownership that may be attributable to
the reporting person is not readily determinable because it is subject to
several variables, including the internal rate of return and vesting of
interests within CCP and CVCA, LLC.
4) The amounts shown in Table II represents the beneficial ownership of the
Issuer's equity securities by CVCA, LLC, a portion of which may be deemed
attributable to the reporting person because it is the sole managing member of
(a) CCP-SBIC Manager, LLC, the sole managing member of CVCA, LLC and (b) CCP-CMC
Consolidating, LLC, the non-managing member of CVCA, LLC. CCP is also the
manager, by delegation, of CVCA, LLC pursuant to an advisory agreement with
CCP-SBIC Manager, LLC and Consolidating. The actual pro rata portion of such
beneficial ownership that may be deemed to be attributable to the reporting
person is not readily determinable because it is subject to several variables,
including the internal rate of return and vesting of interests within CCP and
CVCA, LLC.
5) The amounts shown in Table II represents the beneficial ownership of the
Issuer's equity securities by CVCA, LLC, a portion of which may be deemed
attributable to the reporting person because it is the sole managing member of
CVCA, LLC. The actual pro rata portion of such beneficial ownership that may be
deemed to be attributable to the reporting person is not readily determinable
because it is subject to several variables, including the internal rate of
return and vesting of interests within CVCA, LLC.
Page 6 of 7
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6) The amounts shown in Table II represents the beneficial ownership of the
Issuer's equity securities by CVCA, LLC, a portion of which may be deemed
attributable to the reporting person because it is the sole non-managing member
of CVCA, LLC. The actual pro rata portion of such beneficial ownership that may
be deemed to be attributable to the reporting person is not readily determinable
because it is subject to several variables, including the internal rate of
return and vesting of interests within CCP and CVCA, LLC.
7) The amounts shown in Table II represents the beneficial ownership of the
Issuer's equity securities by CVCA, LLC, a portion of which may be deemed
attributable to the reporting person because he was a general partner of CCP,
the sole managing member of the two members of CVCA, LLC and the manager, by
delegation, of CVCA, LLC, until May 31, 1999. The actual pro rata portion of
such beneficial ownership that may be deemed to be attributable to the reporting
person is not readily determinable because it is subject to several variables,
including the internal rate of return and vesting within CCP and CVCA, LLC.
8) The amounts shown in Table II represents the beneficial ownership of the
Issuer's equity securities by CVCA, LLC, a portion of which may be deemed
attributable to the reporting person because he was a general partner of CCP,
the sole managing member of the two members of CVCA, LLC and the manager, by
delegation, of CVCA, LLC, until December 31, 1999. The actual pro rata portion
of such beneficial ownership that may be deemed to be attributable to the
reporting person is not readily determinable because it is subject to several
variables, including the internal rate of return and vesting within CCP and
CVCA, LLC.
9) The amounts shown in Table II represents the beneficial ownership of the
Issuer's equity securities by CVCA, LLC, a portion of which may be deemed
attributable to the reporting person because he was a general partner of CCP,
the sole managing member of the two members of CVCA, LLC, and the manager, by
delegation, of CVCA, LLC, until July 1, 1999. The actual pro rata portion of
such beneficial ownership that may be deemed to be attributable to the reporting
person is not readily determinable because it is subject to several variables,
including the internal rate of return and vesting within CCP and CVCA, LLC.
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