ALARMGUARD HOLDINGS INC
SC 13G/A, 1999-02-12
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<PAGE>   1
                                                       -------------------------
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                                UNITED STATES          OMB Number:  3235-0145
                  SECURITIES AND EXCHANGE COMMISSION   Expires: August 31, 1999
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                                  SCHEDULE 13G


                    Under the Securities Exchange Act of 1934
                              (Amendment No. One )*

                           Alarmguard Holdings, Inc. 
- --------------------------------------------------------------------------------
                                (Name of Issuer)


                         Common Stock, $.0001 par value
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   011649100
                                 ------------
                                (CUSIP Number)

                               December 31, 1998 
- --------------------------------------------------------------------------------
             (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).


                              Page 1 of 17 pages

<PAGE>   2



CUSIP No.   011649100            SCHEDULE 13G                Page 2 of 17  Pages
            ---------                                             --   --
- --------------------------------------------------------------------------------
 (1) NAMES OF REPORTING PERSONS
     S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS

     Canaan Venture Limited Partnership
- --------------------------------------------------------------------------------
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a) [ ]
                                                                         (b) [ ]
- --------------------------------------------------------------------------------
 (3) SEC USE ONLY

- --------------------------------------------------------------------------------
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION

     Delaware Limited Partnership
- --------------------------------------------------------------------------------
                            (5)  SOLE VOTING POWER

                                 233,965
        NUMBER OF           ----------------------------------------------------
         SHARES             (6)  SHARED VOTING POWER
     BENEFICIALLY
        OWNED BY                 559,138
         EACH               ----------------------------------------------------
       REPORTING            (7)  SOLE DISPOSITIVE POWER
     PERSON WITH
                                 233,965
                            ----------------------------------------------------
                            (8)  SHARED DISPOSITIVE POWER

                                 559,138
- --------------------------------------------------------------------------------
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
     PERSON

     793,103
- --------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
     CERTAIN SHARES*                                                        [ ]
- --------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     14.2%
- --------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON *

     PN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 2 of 17 pages
<PAGE>   3
CUSIP No.   011649100            SCHEDULE 13G                Page 3 of 17  Pages
            ---------                                             --   --
- --------------------------------------------------------------------------------
 (1) NAMES OF REPORTING PERSONS
     S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS

     Canaan Venture Offshore Limited Partnership, C.V.
- --------------------------------------------------------------------------------
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a) [ ]
                                                                         (b) [ ]
- --------------------------------------------------------------------------------
 (3) SEC USE ONLY

- --------------------------------------------------------------------------------
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION

     Netherlands Antilles Limited Partnership
- --------------------------------------------------------------------------------
                            (5)  SOLE VOTING POWER

                                 559,138
        NUMBER OF           ----------------------------------------------------
         SHARES             (6)  SHARED VOTING POWER
     BENEFICIALLY
        OWNED BY                 233,965
         EACH               ----------------------------------------------------
       REPORTING            (7)  SOLE DISPOSITIVE POWER
     PERSON WITH
                                 559,138
                            ----------------------------------------------------
                            (8)  SHARED DISPOSITIVE POWER

                                 233,965
- --------------------------------------------------------------------------------
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
     PERSON

     793,103
- --------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
     CERTAIN SHARES*                                                         [ ]
- --------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     14.2%
- --------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON *

     PN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 3 of 17 pages
<PAGE>   4

CUSIP No.   011649100            SCHEDULE 13G                Page 4 of 17  Pages
            ---------                                             --   --
- --------------------------------------------------------------------------------
 (1) NAMES OF REPORTING PERSONS
     S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS

     Canaan Management Limited Partnership
- --------------------------------------------------------------------------------
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a) [ ]
                                                                         (b) [ ]
- --------------------------------------------------------------------------------
 (3) SEC USE ONLY

- --------------------------------------------------------------------------------
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION

     Delaware Limited Partnership
- --------------------------------------------------------------------------------
                            (5)  SOLE VOTING POWER

                                 0
        NUMBER OF           ----------------------------------------------------
         SHARES             (6)  SHARED VOTING POWER
     BENEFICIALLY
        OWNED BY                 793,103
         EACH               ----------------------------------------------------
       REPORTING            (7)  SOLE DISPOSITIVE POWER
      PERSON WITH
                                 0
                            ----------------------------------------------------
                            (8)  SHARED DISPOSITIVE POWER

                                 793,103
- --------------------------------------------------------------------------------
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
     PERSON

     793,103
- --------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
     CERTAIN SHARES*                                                         [ ]
- --------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     14.2%
- --------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON *

     PN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 4 of 17 pages
<PAGE>   5


CUSIP No.   011649100            SCHEDULE 13G                Page 5 of 17  Pages
            ---------                                            ---   ---
- --------------------------------------------------------------------------------
 (1) NAMES OF REPORTING PERSONS
     S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS

     Canaan Offshore Management, N.V.
- --------------------------------------------------------------------------------
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a) [ ]
                                                                         (b) [ ]
- --------------------------------------------------------------------------------
 (3) SEC USE ONLY

- --------------------------------------------------------------------------------
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION

     Netherlands Antilles Corporation
- --------------------------------------------------------------------------------
                            (5)  SOLE VOTING POWER

                                 0
        NUMBER OF           ----------------------------------------------------
         SHARES             (6)  SHARED VOTING POWER
     BENEFICIALLY
        OWNED BY                 559,138
         EACH               ----------------------------------------------------
       REPORTING            (7)  SOLE DISPOSITIVE POWER
      PERSON WITH
                                 0
                            ----------------------------------------------------
                            (8)  SHARED DISPOSITIVE POWER

                                 559,138
- --------------------------------------------------------------------------------
(9)  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
     PERSON

     559,138
- --------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
     CERTAIN SHARES*                                                         [ ]
- --------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     10.0%
- --------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON *

     CO
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 5 of 17 pages
<PAGE>   6

CUSIP No.   011649100            SCHEDULE 13G                Page 6 of 17  Pages
            ---------                                            ---   ---
- --------------------------------------------------------------------------------
 (1) NAMES OF REPORTING PERSONS
     S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS

     Canaan Venture Partners L.P.
- --------------------------------------------------------------------------------
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a) [ ]
                                                                         (b) [ ]
- --------------------------------------------------------------------------------
 (3) SEC USE ONLY

- --------------------------------------------------------------------------------
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION

     Delaware Limited Partnership
- --------------------------------------------------------------------------------
                            (5)  SOLE VOTING POWER

                                 0
        NUMBER OF           ----------------------------------------------------
         SHARES             (6)  SHARED VOTING POWER
     BENEFICIALLY
        OWNED BY                 793,103
         EACH               ----------------------------------------------------
       REPORTING            (7)  SOLE DISPOSITIVE POWER
      PERSON WITH
                                 0
                            ----------------------------------------------------
                            (8)  SHARED DISPOSITIVE POWER

                                 793,103
- --------------------------------------------------------------------------------
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING 
     PERSON

     793,103
- --------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
     CERTAIN SHARES*                                                         [ ]
- --------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     14.2%
- --------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON *

     PN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 6 of 17 pages
<PAGE>   7

CUSIP No.   011649100            SCHEDULE 13G                Page 7 of 17  Pages
            ---------                                            ---   ---
- --------------------------------------------------------------------------------
 (1) NAMES OF REPORTING PERSONS
     S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS

     James J. Fitzpatrick
- --------------------------------------------------------------------------------
 (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                         (a) [ ]
                                                                         (b) [ ]
- --------------------------------------------------------------------------------
 (3) SEC USE ONLY

- --------------------------------------------------------------------------------
 (4) CITIZENSHIP OR PLACE OF ORGANIZATION

     United States
- --------------------------------------------------------------------------------
                            (5)  SOLE VOTING POWER

                                 0
        NUMBER OF           ----------------------------------------------------
         SHARES             (6)  SHARED VOTING POWER
     BENEFICIALLY
        OWNED BY                 793,103
         EACH               ----------------------------------------------------
       REPORTING            (7)  SOLE DISPOSITIVE POWER
      PERSON WITH
                                 0
                            ----------------------------------------------------
                            (8)  SHARED DISPOSITIVE POWER

                                 793,103
- --------------------------------------------------------------------------------
 (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
     PERSON

     793,103
- --------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
     CERTAIN SHARES*                                                         [ ]
- --------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

     14.2%
- --------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON *

     IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!

                               Page 7 of 17 pages
<PAGE>   8

ITEM 1(a).     NAME OF ISSUER

               Alarmguard Holdings, Inc.

ITEM 1(b).     ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES

               125 Frontage Road
               Orange, CT  06477

ITEM 2(a).     NAME OF PERSON FILING

               This statement is filed by Canaan Venture Limited Partnership, a
               Delaware limited partnership, ("Canaan Venture"), Canaan Venture
               Offshore Limited Partnership C.V., a Netherlands Antilles limited
               partnership ("Canaan Venture Offshore"), Canaan Management
               Limited Partnership, a Delaware limited partnership, ("Canaan
               Management"), Canaan Offshore Management, N.V., a Netherlands
               Antilles corporation ("Canaan Corporation"), Canaan Venture
               Partners L.P., a Delaware limited partnership, ("Canaan
               Partners") and James J. Fitzpatrick, (the "Partner"). Canaan
               Management (which serves as the sole general partner of Canaan
               Venture and one of the two general partners of Canaan Venture
               Offshore), Canaan Corporation (which serves as the other general
               partner of Canaan Venture Offshore), Canaan Partners (which
               serves as the general partner of Canaan Management) and the
               Partner (who serve as a general partner of Canaan Partners), are
               collectively referred to as the "Reporting Persons" in this
               Schedule 13G.

ITEM 2(b).     ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE

               Except in the case of Canaan Venture Offshore, and Canaan
               Corporation, the principal business address of the Reporting
               Persons is 105 Rowayton Avenue, Rowayton, CT 06853. The principal
               address of Canaan Venture Offshore and Canaan Corporation is c/o
               ABN Trustcompany, Pietermaai 15, Curacao, the Netherlands
               Antilles.

ITEM 2(c).     CITIZENSHIP

               Each of Canaan Venture, Canaan Management and Canaan Partners is
               a limited partnership organized under the laws of Delaware.
               Canaan Venture Offshore is a limited partnership and Canaan
               Corporation is a corporation, each organized under the laws of
               the Netherlands Antilles. The Partner is a citizen of the United
               States.

ITEM 2(d).     TITLE OF CLASS OF SECURITIES

               This Schedule 13G report relates to the Common Stock, par value
               $.0001 ("Common Stock") of Alarmguard Holdings, Inc. ("the
               Company").

                               Page 8 of 17 pages




<PAGE>   9



ITEM 2(e).     CUSIP NUMBER

               CUSIP number 011649100.

ITEM 3.        IF THIS STATEMENT IF FILED PURSUANT TO RULES 13D-1(b), OR 
               13D-2(b), CHECK WHETHER THE PERSON FILING IS A:

               None.

ITEM 4.        OWNERSHIP

(a)            Canaan Venture owns 233,965 shares of Common Stock and Canaan
               Venture Offshore owns 559,138 shares of Common Stock. All other
               Reporting Persons hold their respective beneficially owned shares
               due to their relationships to the above Partnerships as outlined
               in Item 2.

(b)            By virtue of their common  control,  Canaan  Venture and Canaan
               Venture Offshore each may be deemed to be the beneficial owners
               of 793,103 shares of Common Stock, representing beneficial
               ownership of 14.2% of the Company. Canaan Management, by virtue
               of its status as general partner of Canaan Venture and Canaan
               Venture Offshore, may be deemed to be the beneficial owner of
               793,103 shares, representing beneficial ownership of 14.2%.
               Canaan Corporation, by virtue of its status as a general partner
               of Canaan Venture Offshore, may be deemed to be the beneficial
               owner of 559,138 shares, representing beneficial ownership of
               10.0%. By virtue of his status as a general partner of Canaan
               Management, Canaan Partners may be deemed to be the beneficial
               owner of 793,103 shares, representing beneficial ownership of
               14.2%. By virtue of his status as a general partner of Canaan
               Partners, the Partner may be deemed to be the beneficial owner of
               793,103 shares representing in the case of the Partner,
               beneficial ownership of 14.2%. The foregoing percentages are
               calculated based on the 5,593,948 shares of Common Stock reported
               to be outstanding in the Quarterly Report on Form 10-Q of the
               Issuer for the quarter ended June 30, 1998.



<TABLE>
<CAPTION>


                                                            NUMBER OF SHARES
                                           -------------------------------------------------
                                             (i)          (ii)          (iii)         (iv)
                                           --------     -------        -------      --------
<S>                                       <C>           <C>            <C>           <C>  
(c) REPORTING PERSON 
Canaan Venture                              233,965     559,138        233,965       559,138
Canaan Venture Offshore                     559,138     233,965        559,138       233,965
Canaan Management                                 0     793,103              0       793,103
Canaan Corporation                                0     559,138              0       559,138
Canaan Partners                                   0     793,103              0       793,103
James J. Fitzpatrick                              0     793,103              0       793,103

</TABLE>

(i)   Sole power to vote or direct the vote 
(ii)  Shared power to vote or to direct the vote 
(iii) Sole power to dispose or to direct the disposition of 
(iv)  Shared power to dispose or to direct the disposition of

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.


                               Page 9 of 17 pages
<PAGE>   10




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
         Each of the reporting persons expressly disclaims membership in a
         "Group" as defined in Rule 13d-1 (b) (ii) (J).

ITEM 9.  NOTICE OF DISSOLUTION OF GROUP
         Not applicable.

ITEM 10. CERTIFICATION
         Not applicable. This Schedule 13G is not filed pursuant to Rule 
         13d-1(b).

DATE:    February 10, 1999

                              Page 10 of 17 pages
<PAGE>   11


                                   SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, each of the
undersigned certifies that the information set forth in this statement is true,
complete and correct.

Canaan Venture Limited Partnership
By: Canaan Management Limited Partnership
    Its General Partner
By: Canaan Venture Partners L.P.
    Its General Partner

By:                 *
    ---------------------------------------
    General Partner

Canaan Venture Offshore Limited Partnership, C. V.
By: Canaan Management Limited Partnership
    Its General Partner
By: Canaan Venture Partners L.P.
    Its General Partner

By:                 *
    ---------------------------------------
    General Partner

Canaan Management Limited Partnership
By: Canaan Venture Partners L.P.
    Its General Partner

By:                 *
    ---------------------------------------
    General Partner


Canaan Offshore Management, N.V.

By:                 *
    ---------------------------------------
    Director

Canaan Venture Partners L.P.

By:                 *
    ---------------------------------------
    General Partner



                              Page 11 of 17 pages
<PAGE>   12


                    *
- ---------------------------------------
James J. Fitzpatrick



                                                   *By: /s/ Guy M. Russo
                                                        ------------------------
                                                        Guy M. Russo
                                                        Attorney-in-Fact

- ----------------------------------------------------------------------------
This Schedule 13G was executed by Guy M. Russo pursuant to Powers of Attorney
filed with the Securities and Exchange Commission on April 22, 1997, in
connection with a Schedule 13D for Alarmguard Holdings, Inc., which Powers of
Attorney are incorporated herein by reference and copies of which are attached
hereto as Exhibit 2.

                              Page 12 of 17 pages

<PAGE>   1

                                                                      EXHIBIT 1

                             JOINT FILING AGREEMENT

In accordance with Rule 13d-1(k)(1) under the Securities Exchange Act of 1934,
as amended, the undersigned agree that only one statement containing the
information required by Schedule 13G need be filed by each of the undersigned
with respect to the ownership by each of the undersigned of shares of stock of
Alarmguard Holdings, Inc. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original.

Canaan Venture Limited Partnership
By: Canaan Management Limited Partnership
    Its General Partner
By: Canaan Venture Partners L.P.
    Its General Partner

By:                 *
    ---------------------------------------
    General Partner

Canaan Venture Offshore Limited Partnership, C. V.
By: Canaan Management Limited Partnership
    Its General Partner
By: Canaan Venture Partners L.P.
    Its General Partner

By:                 *
    ---------------------------------------
    General Partner

Canaan Management Limited Partnership
By: Canaan Venture Partners L.P.
    Its General Partner

By:                 *
    ---------------------------------------
    General Partner

Canaan Offshore Management, N.V.

By:                 *
    ---------------------------------------
    Director

Canaan Venture Partners L.P.

By:                 *
    ---------------------------------------
    General Partner

                              Page 13 of 17 pages
<PAGE>   2

                 *
- ---------------------------------------
Harry T. Rein

                 *
- ---------------------------------------
James J. Fitzpatrick


                 *
- ---------------------------------------
Gregory Kopchinsky


                 *
- ---------------------------------------
Robert J. Migliorino


                 *
- ---------------------------------------
Eric A. Young


                                                     *By: /s/ Guy M. Russo
                                                          ----------------------
                                                          Guy M. Russo
                                                          Attorney-in-Fact

- ----------------------------------------------------------------------------
This Schedule 13G was executed by Guy M. Russo pursuant to Powers of Attorney
filed with the Securities and Exchange Commission on April 22, 1997, in
connection with a Schedule 13D for Alarmguard Holdings, Inc., which Powers of
Attorney are incorporated herein by reference and copies of which are attached
hereto as Exhibit 2.


                              Page 14 of 17 pages

<PAGE>   1


                                                                       EXHIBIT 2

                                POWER OF ATTORNEY


     KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below hereby constitutes and appoints Guy M. Russo his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities (until
revoked in writing) to sign any and all instruments, certificates and documents
required to be executed on behalf of himself as an individual or in his capacity
as a general partner or authorized signatory, as the case may be, on behalf of
any of Canaan Venture Limited Partnership; Canaan Venture Offshore Limited
Partnership, C.V.; Canaan Offshore Management, N.V.; Canaan Management Limited
Partnership or Canaan Venture Partners L.P. pursuant to the Securities Act of
1933, as amended, (the "Securities Act"), or the Securities Exchange Act of
1934, as amended (the "Exchange Act"), and any and all regulations promulgated
thereunder and to file the same, with all exhibits thereto, and any other
documents in connection therewith, with the Securities and Exchange Commission,
and with any other entity when and if such is mandated by the Securities Act,
the Exchange Act or by the By-laws of the National Association of Securities
Dealers, Inc., granting unto said attorney-in-fact and agent full power and
authority to do and perform each and every act and thing requisite and necessary
fully to all intents and purposes as he might or could do in person thereby, and
ratifying and confirming all that said attorney-in-fact and agent, or his
substitute or substitutes, may lawfully do or cause to be done by virtue hereof,
or may have done in connection with the matters described above.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]


                              Page 15 of 17 pages
<PAGE>   2

IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 14th day of
April, 1997.

CANAAN VENTURE LIMITED PARTNERSHIP

By: Canaan Management Limited Partnership
    Its General Partner

By: Canaan Venture Partners L.P.
    Its General Partner

By: /s/ Harry T. Rein
    -------------------------------- 
    General Partner


CANAAN VENTURE OFFSHORE LIMITED PARTNERSHIP C.V.

By: Canaan Management Limited Partnership
    Its General Partner

By: Canaan Venture Partners L.P.
    Its General Partner

By: /s/ Harry T. Rein
    -------------------------------- 
    General Partner


CANAAN OFFSHORE MANAGEMENT, N.V.

By: /s/ Harry T. Rein 
    -------------------------------- 
    Director


CANAAN MANAGEMENT LIMITED PARTNERSHIP

By: Canaan Venture Partners L.P.
    Its General Partner

By: /s/ Harry T. Rein  
    -------------------------------- 
    General Partner


                              Page 16 of 17 pages

<PAGE>   3

CANAAN VENTURE PARTNERS L.P.

By: /s/ Harry T. Rein
    -------------------------------- 
    General Partner


/s/ Harry T. Rein
- ------------------------------------
Harry T. Rein


/s/ James J. Fitzpatrick
- ------------------------------------
James J. Fitzpatrick


/s/ Gregory Kopchinsky
- ------------------------------------
Gregory Kopchinsky


/s/ Robert J. Migliorino
- ------------------------------------
Robert J. Migliorino


/s/ Eric A. Young
- ------------------------------------
Eric A. Young



                              Page 17 of 17 pages


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