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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Cobalt Networks, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
19074R 10 1
- --------------------------------------------------------------------------------
(CUSIP Number)
December 31, 1999
- --------------------------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[_] Rule 13d-1(b)
[_] Rule 13d-1(c)
[X] Rule 13d-1(d)
*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 the
disclosures provided in a prior cover page.
The information required in 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).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.
SEC 1745 (3-98)
Page 1 of 13 pages
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- ---------------------------- ----------------------
CUSIP NO. 19074R 10 1 13G
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON/S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
TechFund Capital, L.P.
77-0458319
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZEN OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 1,027,149 shares
SHARES -----------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
0 shares
OWNED BY
-----------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 1,027,149 shares
PERSON -----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
WITH
0 shares
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,027,149 shares
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
3.7%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
Page 2 of 13 pages
<PAGE>
- ---------------------------- ----------------------
CUSIP NO. 19074R 10 1 13G
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON/S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
TechFund Capital II, L.P.
77-0498319
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(c) [_]
(d) [_]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZEN OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 49,661 shares
SHARES -----------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
0 shares
OWNED BY
-----------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 49,661 shares
PERSON -----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
WITH
0 shares
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
49,661 shares
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.2%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
Page 3 of 13 pages
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- ---------------------------- ----------------------
CUSIP NO. 19074R 10 1 13G
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON/S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
TechFund Capital Management, L.L.C.
77-0458461
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(e) [_]
(f) [_]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZEN OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 96,321 shares
SHARES -----------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
1,027,149 shares
OWNED BY
-----------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 96,321 shares
PERSON -----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
WITH
1,027,149 shares
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,123,470 shares
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.0%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
- ------------------------------------------------------------------------------
Page 4 of 13 pages
<PAGE>
- ---------------------------- ----------------------
CUSIP NO. 19074R 10 1 13G
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON/S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
TechFund Capital Management II, L.L.C.
77-0498320
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(g) [_]
(h) [_]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZEN OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 9,932 shares
SHARES -----------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
49,661 shares
OWNED BY
-----------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 9,932 shares
PERSON -----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
WITH
49,661 shares
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
59,593 shares
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.2%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
- ------------------------------------------------------------------------------
Page 5 of 13 pages
<PAGE>
- ---------------------------- ----------------------
CUSIP NO. 19074R 10 1 13G
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON/S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON
Techfarm II, L.P.
77-0457778
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(i) [_]
(j) [_]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 CITIZEN OR PLACE OF ORGANIZATION
California
- ------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 1,147,500 shares
SHARES -----------------------------------------------------------
6 SHARED VOTING POWER
BENEFICIALLY
0 shares
OWNED BY
-----------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 1,147,500 shares
PERSON -----------------------------------------------------------
8 SHARED DISPOSITIVE POWER
WITH
0 shares
- ------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,147,500 shares
- ------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[_]
- ------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.1%
- ------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
- ------------------------------------------------------------------------------
Page 6 of 13 pages
<PAGE>
- -------------------------- --------------------------
CUSIP No. 19074R 10 1 13G
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gordon A. Campbell
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (k) [_]
(l) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
4
California
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 181,303 shares
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
2,330,563 shares
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 181,303 shares
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
2,330,563 shares
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
2,511,866 shares
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
9.0%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
IN
- ------------------------------------------------------------------------------
Page 7 of 13 pages
<PAGE>
- -------------------------- --------------------------
CUSIP No. 19074R 10 1 13G
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Techfarm Management, Inc.
77-0364615
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (m) [_]
(n) [_]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
CITIZEN OR PLACE OF ORGANIZATION
4
California
- ------------------------------------------------------------------------------
SOLE VOTING POWER
5
NUMBER OF 0 shares
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 6
1,147,500 shares
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
7
REPORTING 0 shares
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 8
1,147,500 shares
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9
1,147,500 shares
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11
4.1%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
12
PN
- ------------------------------------------------------------------------------
Page 8 of 13 pages
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ITEM 1.
(a) NAME OF ISSUER:
Cobalt Networks, Inc.
(b) ADDRESS OF ISSUER'S PRINCIPAL BUSINESS OFFICES:
555 Ellis Street
Mountain View, CA 94043
ITEM 2.
(a) NAME OF PERSON FILING:
(1) TechFund Capital, L.P.
(2) TechFund Capital II, L.P.
(3) TechFund Capital Management, L.L.C
(4) TechFund Capital Management II, L.L.C.
(5) Techfarm II, L.P.
(6) Gordon A. Campbell
(7) Techfarm Management, Inc.
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
200 West Evelyn Avenue, Suite 100
Mountain View, CA 94041
(c) CITIZENSHIP:
(1) TechFund Capital, L.P.: California, U.S.A.
(2) TechFund Capital II, L.P.: California, U.S.A.
(3) TechFund Capital Management, L.L.C.: California, U.S.A.
(4) TechFund Capital Management II, L.L.C.: California, U.S.A.
(5) Techfarm II, L.P.: California, U.S.A.
(6) Gordon A. Campbell: U.S.A.
(7) Techfarm Management, Inc.: California, U.S.A.
(d) TITLE OF CLASS OF SECURITIES:
Common Stock, $0.001 par value
(e) CUSIP NUMBER:
19074R 10 1
ITEM 3. Not applicable.
Page 9 of 13 pages
<PAGE>
ITEM 4.
(a) AMOUNT BENEFICIALLY OWNED:
(1) TechFund Capital, L.P beneficially owns 1,027,149 shares of
the Issuer's Common Stock. TechFund Capital, L.P. has no
rights to acquire additional shares through the exercise of
options or otherwise.
(2) TechFund Capital II, L.P. beneficially owns 49,661 shares of
the Issuer's Common Stock. TechFund Capital II, L.P. has no
rights to acquire additional shares through the exercise of
options or otherwise.
(3) TechFund Capital Management, L.L.C. beneficially owns 96,321
shares of the Issuer's Common Stock. TechFund Capital
Management, L.L.C. is also the Managing Member of TechFund
Capital, L.P. Therefore, TechFund Capital Management, L.L.C.
may be deemed to beneficially own an aggregate of 1,027,149
shares of the Issuer's Common Stock. TechFund Capital
Management, LLC has no rights to acquire additional shares
through the exercise of options or otherwise.
(4) TechFund Capital Management II, L.L.C. beneficially owns
9,932 shares of the Issuer's Common Stock. TechFund Capital
Management II, L.L.C. is also the Managing Member of
TechFund Capital II, L.P. Therefore, TechFund Capital
Management II, L.L.C. may be deemed to beneficially own an
aggregate of 49,661 shares of the Issuer's Common Stock.
TechFund Capital Management II, L.P. has no rights to
acquire additional shares through the exercise of options or
otherwise.
(5) Techfarm II, L.P. beneficially owns 1,147,500 shares of the
Issuer's Common Stock. Techfarm II, L.P. has no rights to
acquire additional shares through the exercise of options or
otherwise.
(6) Gordon A. Campbell beneficially owns 116,303 shares of the
Issuer's Common Stock and options to purchase 65,000 shares
of Common Stock which are exercisable within 60 days of
December 31, 1999. Mr. Campbell is the President of Techfarm
Management, Inc. (dba Techfarm, Inc.), the General Partner
of Techfarm II, L.P. Mr. Campbell is also a Managing Member
of TechFund Capital Management, L.L.C. and TechFund Capital
Management II, L.L.C. As a result, Mr. Campbell may be
deemed to beneficially own an aggregate of 2,330,563 shares
of the Issuer's Common Stock beneficially owned by TechFund
Capital Management, L.L.C., TechFund Capital Management II,
L.L.C. and TechFarm II, L.P. (the "Funds"). Mr. Campbell,
however, disclaims beneficial ownership of the shares held
by the Funds.
(7) Techfarm Management, Inc. is the General Partner of TechFarm
II, L.P. and therefore may be deemed to beneficially own
1,147,500 shares of the Issuer's Common Stock. Techfarm
Management, Inc. has no rights to acquire additional shares
through the exercise of options or otherwise.
(b) PERCENT OF CLASS:
(1) TechFund Capital, L.P. 3.7%
(2) TechFund Capital II, L.P. 0.2%
(3) TechFund Capital Management, L.L.C. 4.0%
(4) TechFund Capital Management II, L.L.C. 0.2%
(5) Techfarm II, L.P. 4.1%
(6) Gordon A. Campbell 9.0%
(7) Techfarm Management, Inc. 4.1%
Page 10 of 13 pages
<PAGE>
The foregoing percentages are calculated based on an aggregate of
28,048,052 shares of Common Stock outstanding for the fiscal
quarter ended October 1, 1999 and sold in the offering registered
therein on a proforma basis in the Registration Statement on Form
S-1 of Cobalt Networks, Inc. declared effective by the Securities
and Exchange Commission on November 4, 1999.
(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) Sole power to vote or to direct the vote:
(1) TechFund Capital, L.P. 1,027,149 shares
(2) TechFund Capital II, L.P. 49,661 shares
(3) TechFund Capital Management, L.L.C. 96,321 shares
(4) TechFund Capital Management II, L.L.C. 9,932 shares
(5) Techfarm II, L.P. 1,147,500 shares
(6) Gordon A. Campbell 181,303 shares
(7) Techfarm Management, Inc. 0 shares
(ii) Shared power to vote or to direct the vote:
(1) TechFund Capital, L.P. 0 shares
(2) TechFund Capital II, L.P. 0 shares
(3) TechFund Capital Management, L.L.C. 1,027,149 shares
(4) TechFund Capital Management II, L.L.C. 49,661 shares
(5) Techfarm II, L.P. 0 shares
(6) Gordon A. Campbell 2,330,563 shares
(7) Techfarm Management, Inc. 1,147,500 shares
(iii) Sole power to dispose or direct the disposition of:
(1) TechFund Capital, L.P. 1,027,149 shares
(2) TechFund Capital II, L.P. 49,661 shares
(3) TechFund Capital Management, L.L.C. 96,321 shares
(4) TechFund Capital Management II, L.L.C. 9,932 shares
(5) Techfarm II, L.P. 1,147,500 shares
(6) Gordon A. Campbell 181,303 shares
(7) Techfarm Management, Inc. 0 shares
(iv) Shared power to dispose or direct the disposition of:
(1) TechFund Capital, L.P. 0 shares
(2) TechFund Capital II, L.P. 0 shares
(3) TechFund Capital Management, L.L.C. 1,027,149 shares
(4) TechFund Capital Management II, L.L.C. 49,661 shares
(5) Techfarm II, L.P. 0 shares
(6) Gordon A. Campbell 2,330,563 shares
(7) Techfarm Management, Inc. 1,147,500 shares
ITEM 5. If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class of securities, check
the following: [_]
Page 11 of 13 pages
<PAGE>
ITEM 6. Not applicable.
ITEM 7. Not applicable.
ITEM 8. Not applicable.
ITEM 9. Not applicable.
ITEM 10. Not applicable. This statement on Schedule 13G is not filed
pursuant to Rule 13d-1(b).
Page 12 of 13 pages
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Date: February 14, 2000 TECHFUND CAPITAL, L.P.
By its General Partner,
TechFund Capital Management, L.L.C.
By: /s/ Gordon A. Campbell
---------------------------------------
Gordon A. Campbell, President
TECHFUND CAPITAL II, L.P.
By its General Partner,
TechFund Capital Management II, L.L.C.
By: /s/ Gordon A. Campbell
---------------------------------------
Gordon A. Campbell, Managing Member
TECHFUND CAPITAL MANAGEMENT, L.L.C.
By: /s/ Gordon A. Campbell
---------------------------------------
Gordon A. Campbell, Managing Member
TECHFUND CAPITAL MANAGEMENT II, L.L.C.
By: /s/ Gordon A. Campbell
---------------------------------------
Gordon A. Campbell, Managing Member
TECHFARM II, L.P.
By its General Partner,
Techfarm Management, Inc.
By: /s/ Gordon A. Campbell
---------------------------------------
Gordon A. Campbell, President
TECHFARM MANAGEMENT, INC.
By: /s/ Gordon A. Campbell
---------------------------------------
Gordon A. Campbell, President
/s/ Gordon A. Campbell
--------------------------------------------
GORDON A. CAMPBELL
Page 13 of 13 pages
