<PAGE>
THIS DOCUMENT IS A COPY OF THE 13G
PREVIOUSLY FILED ON FEBRUARY 18, 1997
PURSUANT TO A RULE 201 TEMPORARY
HARDSHIP EXEMPTION.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
------
BroadVision, Inc.
----------------------------------
(Name of Issuer)
Common Stock
----------------------------------
(Title of Class of Securities)
111412-10-12
----------------------------------
(CUSIP Number)
Check the following box if a fee is being paid with this statement / /. (A
fee is not required only if the filing person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
*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 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).
(Continued on following page(s))
Page 1 of 16 Pages
<PAGE>
CUSIP No. 111412-10-12 13G Page 2 of 16 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
77-0287059
Sutter Hill Ventures, A California Limited Partnership
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 1,547,722
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With
--------------------------------------------------
(7) Sole Dispositive Power
1,547,722
--------------------------------------------------
(8) Shared Dispositive Power
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
1,547,722
- -------------------------------------------------------------------------------
(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
7.8
- -------------------------------------------------------------------------------
(12) Type of Reporting Person*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 111412-10-12 13G Page 3 of 16 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
77-0155181
TOW Partners, A California Limited Partnership
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 157,024
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With
--------------------------------------------------
(7) Sole Dispositive Power
157,024
--------------------------------------------------
(8) Shared Dispositive Power
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
157,024
- -------------------------------------------------------------------------------
(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
.8
- -------------------------------------------------------------------------------
(12) Type of Reporting Person*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 111412-10-12 13G Page 4 of 16 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
###-##-####
David L. Anderson
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 230,518
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With 1,547,722
--------------------------------------------------
(7) Sole Dispositive Power
230,518
--------------------------------------------------
(8) Shared Dispositive Power
1,547,722
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
1,778,240
- -------------------------------------------------------------------------------
(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
8.9
- -------------------------------------------------------------------------------
(12) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 111412-10-12 13G Page 5 of 16 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
###-##-####
G. Leonard Baker, Jr.
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 230,518
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With 1,547,722
--------------------------------------------------
(7) Sole Dispositive Power
230,518
--------------------------------------------------
(8) Shared Dispositive Power
1,547,722
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
1,778,240
- -------------------------------------------------------------------------------
(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
8.9
- -------------------------------------------------------------------------------
(12) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 111412-10-12 13G Page 6 of 16 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
###-##-####
William H. Younger, Jr.
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 144,832
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With 1,547,722
--------------------------------------------------
(7) Sole Dispositive Power
144,832
--------------------------------------------------
(8) Shared Dispositive Power
1,547,722
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
1,692,544
- -------------------------------------------------------------------------------
(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
8.5
- -------------------------------------------------------------------------------
(12) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 111412-10-12 13G Page 7 of 16 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
###-##-####
Tench Coxe
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 81,415
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With 1,547,722
--------------------------------------------------
(7) Sole Dispositive Power
81,415
--------------------------------------------------
(8) Shared Dispositive Power
1,547,722
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
1,629,137
- -------------------------------------------------------------------------------
(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
8.2
- -------------------------------------------------------------------------------
(12) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 111412-10-12 13G Page 8 of 16 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
###-##-####
Paul M. Wythes
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 192,463
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With 1,547,722
--------------------------------------------------
(7) Sole Dispositive Power
192,463
--------------------------------------------------
(8) Shared Dispositive Power
1,547,722
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
1,740,185
- -------------------------------------------------------------------------------
(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
8.7
- -------------------------------------------------------------------------------
(12) Type of Reporting Person*
IN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 111412-10-12 13G Page 9 of 16 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
77-0337953
Anvest, L.P.
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 66,220
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With
--------------------------------------------------
(7) Sole Dispositive Power
66,220
--------------------------------------------------
(8) Shared Dispositive Power
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
66,220
- -------------------------------------------------------------------------------
(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
.3
- -------------------------------------------------------------------------------
(12) Type of Reporting Person*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 111412-10-12 13G Page 10 of 16 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
77-0337944
Saunders Holdings, L.P.
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 124,071
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With
--------------------------------------------------
(7) Sole Dispositive Power
124,071
--------------------------------------------------
(8) Shared Dispositive Power
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
124,071
- -------------------------------------------------------------------------------
(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
.6
- -------------------------------------------------------------------------------
(12) Type of Reporting Person*
PN
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
CUSIP No. 111412-10-12 13G Page 11 of 16 Pages
- -------------------------------------------------------------------------------
(1) Names of Reporting Persons. S.S. or I.R.S. Identification Nos. of Above
Persons
Paul M. Wythes, Trustee of 3 Trusts for the benefit of his 3 adult
children
- -------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member (a) / /
of a Group* (b) /X/
- -------------------------------------------------------------------------------
(3) SEC Use Only
- -------------------------------------------------------------------------------
(4) Citizenship or Place of Organization
USA
- -------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power
Beneficially 35,439
Owned by --------------------------------------------------
Each Reporting (6) Shared Voting Power
Person With
--------------------------------------------------
(7) Sole Dispositive Power
35,439
--------------------------------------------------
(8) Shared Dispositive Power
- -------------------------------------------------------------------------------
(9) Aggregate Amount Beneficially Owned by Each Reporting Person
35,439
- -------------------------------------------------------------------------------
(10) Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares*
- -------------------------------------------------------------------------------
(11) Percent of Class Represented by Amount in Row (9)
.2
- -------------------------------------------------------------------------------
(12) Type of Reporting Person*
OO
- -------------------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE>
Page 12 of 16 Pages
ITEM 1(A). NAME OF ISSUER
Broadvision, Inc.
- -------------------------------------------------------------------------------
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
333 Distel Circle
Los Altos, CA 94022-1404
- -------------------------------------------------------------------------------
ITEM 2(A). NAME OF PERSON(S) FILING
Exhibit A is hereby incorporated by reference
- -------------------------------------------------------------------------------
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE
See Exhibit A
- -------------------------------------------------------------------------------
ITEM 2(C). CITIZENSHIP
See Exhibit A
- -------------------------------------------------------------------------------
ITEM 2(D). TITLE OF CLASS OF SECURITIES
Common
- -------------------------------------------------------------------------------
ITEM 2(E). CUSIP NUMBER
- -------------------------------------------------------------------------------
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B), OR 13D-2(B),
CHECK WHETHER THE PERSON FILING IS A N/A
(a) / / Broker or Dealer registered under Section 15 of the Act
(b) / / Bank as defined in section 3(a)(6) of the Act
(c) / / Insurance Company as defined in section 3(a)(19) of the Act
(d) / / Investment Company registered under section 8 of the Investment
Company Act
(e) / / Investment Adviser registered under section 203 of the Investment
Advisers Act of 1940
(f) / / Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
or Endowment Fund; see Rule 13d-1(b)(1)(ii)(F)
(g) / / Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G)
(Note: See Item 7)
(h) / / Group, in accordance with Rule 13d-1(b)(1)(ii)(H)
<PAGE>
Page 13 of 16 Pages
ITEM 4. OWNERSHIP
(a) Amount Beneficially Owned:
---------------------------------------------------------------------------
(b) Percent of Class:
(A & B)-See Exhibit A which is hereby incorporated by reference
and related pages 2 to 16
---------------------------------------------------------------------------
(c) Number of shares as to which such person has:
(i) sole power to vote or to 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
-----------------------------------------------------------------
See Exhibit A and related pages 2 to 16 Messrs. Anderson, Baker,
Younger, Coxe and Wythes are the general partners of the general
partner of Sutter Hill Ventures and as such share the voting and
disposition powers over the shares held by the partnership. Mr. Wythes
is the general partner of TOW Partners, and he has voting and
disposition powers over shares held by the partnership. Mr. Anderson
is the general partner of Anvest L.P., and Mr. Baker is the general
partner of Saunders Holdings L.P. and they have voting and disposition
powers over the shares held by the respective partnerships.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
N/A
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. / /
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
N/A
- -------------------------------------------------------------------------------
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
N/A
- -------------------------------------------------------------------------------
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
N/A
- -------------------------------------------------------------------------------
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
N/A
- -------------------------------------------------------------------------------
<PAGE>
Page 14 of 16 Pages
ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such securities and were
not acquired in connection with or as a participant in any transaction having
such purposes or effect.
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.
We, the undersigned, hereby express our agreement that the attached
Schedule 13G is filed on behalf of each of us.
SUTTER HILL VENTURES, A California
Limited Partnership
By: /s/ G. Leonard Baker, Jr.
---------------------------------------------
Title: General Partner of the General Partner
/s/ Sherryl W. Hossack
---------------------------------------------
David L. Anderson (Under Power of Attorney)
/s/ G. Leonard Baker, Jr.
---------------------------------------------
G. Leonard Baker, Jr.
/s/ William H. Younger, Jr.
---------------------------------------------
William H. Younger, Jr.
/s/ Tench Coxe
---------------------------------------------
Tench Coxe
TOW Partners, A California Limited Partnership
By: /s/ Paul M. Wythes
---------------------------------------------
Title: General Partner
/s/ Paul M. Wythes
---------------------------------------------
Paul M. Wythes
Anvest, L.P.
By: /s/ Sherryl W. Hossack
------------------------------------------
Title: General Partner (Under Power of
Attorney)
Saunders Holdings, L.P.
By: /s/ G. Leonard Baker, Jr.
------------------------------------------
Title: General Partner
Paul M. Wythes, Trustee for
Three Trusts for Benefit of
3 Adult Children
/s/ Paul M. Wythes
---------------------------------------------
Title: Trustee
<PAGE>
Page 15 of 16 Pages
KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears
below constitutes and appoints David L. Anderson, Ronald L. Perkins,
Sherryl W. Hossack, as one of them as his true and lawful attorneys-in-fact
and agents, with full power of substitution and re substitution, for him and
in his name, place and stead, in any and all capacities, to sign any and all
amendments (including post-effective amendments) to this Schedule 13G, and to
file the same, with all exhibits thereto, and other documents in connection
therewith, with the Securities and Exchange Commission, granting unto said
attorneys-in-fact and agents, and each of them full power and authority to do
and perform each and every act and thing requisite and necessary to be done
in connection therewith, as fully to all intents and purposes as he might or
could do in person, hereby ratifying and confirming all that said
attorneys-in-fact and agents, or any of them, or their or his substitutes, may
lawfully do or cause to be done by virtue thereof.
After reasonable inquiry and to the best of our knowledge and belief,
We certify that the information set forth in this statement is true, complete
and correct.
2/13/97
------------------ SUTTER HILL VENTURES, A California
Date Limited Partnership
By: /s/ G. Leonard Baker, Jr.
---------------------------------------------
Title: General Partner of the General Partner
/s/ Sherryl W. Hossack
---------------------------------------------
David L. Anderson (Under Power of Attorney)
/s/ G. Leonard Baker, Jr.
---------------------------------------------
G. Leonard Baker, Jr.
/s/ William H. Younger, Jr.
---------------------------------------------
William H. Younger, Jr.
/s/ Tench Coxe
---------------------------------------------
Tench Coxe
TOW Partners, A California Limited Partnership
By: /s/ Paul M. Wythes
---------------------------------------------
Title: General Partner
/s/ Paul M. Wythes
---------------------------------------------
Paul M. Wythes
Anvest, L.P.
By: /s/ Sherryl W. Hossack
------------------------------------------
Title: General Partner (Under Power of
Attorney)
Saunders Holdings, L.P.
By: /s/ G. Leonard Baker, Jr.
------------------------------------------
Title: General Partner
Paul M. Wythes, Trustee for
Three Trusts for Benefit of
3 Adult Children
/s/ Paul M. Wythes
---------------------------------------------
Title: Trustee
<PAGE>
Page 16 of 16 Pages
BROADVISION
EXHIBIT A TO SCHEDULE 13G
Aggregate Number of % of
Name of Originator Share Beneficially Owned Total Shares
- ------------------ ------------------------ ------------
Individual Aggregate
Sutter Hill Ventures,
A California Limited Partnership 1,547,722 7.8%
TOW Partners,
A California Limited Partnership 157,024 0.8%
David L. Anderson 164,298 0.8%
1,778,240 8.9%
Anvest, L.P. 66,200 0.3%
G. Leonard Baker, Jr. 106,447 0.5%
1,778,240 8.9%
Saunders Holdings, L.P. 124,071 0.6%
William H. Younger, Jr. 144,832 0.7%
1,692,554 8.5%
Tench Coxe 81,415 0.4%
1,629,137 8.2%
Paul M. Wythes 0 0.0%
1,740,185 8.7%
Paul M. Wythes, Trustee for
Three Trusts for Benefit of
3 Adult children 35,439 0.2%
The address for all of the above is: 755 Page Mill Road, Suite A--200, Palo
Alto, CA 94304
The four partnerships are organized in California and the individuals are all
U.S. citizens and residents.
None of the above have been convicted in any criminal proceedings nor have
they been subject to judgements, decrees, or final orders enjoining future
violations of Federal or State securities laws.
All of the parties are individuals in the venture capital business.
