CORAL PARTNERS IV L P
SC 13G, 1999-02-08
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<PAGE>
 
                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549


                                  SCHEDULE 13G


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


                            Symphonix Devices, Inc.
                -----------------------------------------------
                                (Name of Issuer)

                Common Stock, without par value $.001 Per Share
                -----------------------------------------------
                        (Title of Class of Securities)

                                  871951 10 9
                             ---------------------
                                 (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 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 10 pages

<PAGE>

- -----------------------                                  ---------------------
 CUSIP NO. 871951 10 9               13G                   PAGE 2 OF 10 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      Coral Partners IV, Limited Partnership
      SEC ID 0000922910
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [ ]
                                                                (b) [_]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 
- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      Delaware

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            1,099,964 
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          0 
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             1,099,964               
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          0 
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
                            1,099,964               
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
                                     9.03%

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
                                      PN
- ------------------------------------------------------------------------------

                     *SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>
 
- -----------------------                                  ---------------------
  CUSIP NO.  871951 109               13G                  PAGE 3 OF 10 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      Coral Management Partners IV, Limited Partnership
                                     
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [X]
                                                                (b) [_]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 
- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      Delaware 

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            1,099,964
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          0 
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             1,099,964               
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          0 
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
                            1,099,964              
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                        
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
                                     9.03%
- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
                                      PN
- ------------------------------------------------------------------------------
 
                     *SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>
 
- -----------------------                                  ---------------------
  CUSIP NO. 871951 10 9               13G                  PAGE 4 OF 10 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      Yuval Almog
                                     
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [X]
                                                                (b) [_]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 
- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      United States (MN)

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            0
 
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          1,099,964
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             0
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          1,099,964
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
                          1,099,964
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
 
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
                                     9.03%

- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
                                      IN

- ------------------------------------------------------------------------------
 
                     *SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>
 
- -----------------------                                  ---------------------
  CUSIP NO. 871951 10 9                13G                 PAGE 5 OF 10 PAGES
- -----------------------                                  ---------------------
 
- ------------------------------------------------------------------------------
      NAME OF REPORTING PERSON
 1    S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                                                                                
      Peter H. McNerney
                          
- ------------------------------------------------------------------------------
      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
 2                                                              (a) [X]
                                                                (b) [_]
                                                 
- ------------------------------------------------------------------------------
      SEC USE ONLY
 3
 
- ------------------------------------------------------------------------------
      CITIZENSHIP OR PLACE OF ORGANIZATION
 4                                 
      United States

- ------------------------------------------------------------------------------
                          SOLE VOTING POWER
                     5                                                       
     NUMBER OF            10,000
                        
      SHARES       -----------------------------------------------------------
                          SHARED VOTING POWER
   BENEFICIALLY      6       
                          1,099,964
     OWNED BY
                   -----------------------------------------------------------
       EACH               SOLE DISPOSITIVE POWER
                     7       
    REPORTING             10,000
 
      PERSON       -----------------------------------------------------------
                          SHARED DISPOSITIVE POWER
       WITH          8       
                          1,099,964
- ------------------------------------------------------------------------------
      AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 9                           
                          1,109,964
- ------------------------------------------------------------------------------
      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
10           
                                       
- ------------------------------------------------------------------------------
      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
11           
                                     9.12%
- ------------------------------------------------------------------------------
      TYPE OF REPORTING PERSON*
12           
                                      IN
- ------------------------------------------------------------------------------

                     *SEE INSTRUCTION BEFORE FILLING OUT!

<PAGE>
 
Item 1.  Issuer's Name and Address of Principal Executive Offices:

         (a)      Symphonix Devices, Inc.
         (b)      2331 Zanker Rd.
                  San Jose, CA 95131

Item 2.  Information Concerning Person Filing:

         (a) Filing Persons:

             Entities:

                  Coral Partners IV, a limited partnership ("CP IV") Coral
                  Management Partners IV, Limited Partnership ("CMP IV")

             Individuals:
                  Yuval Almog
                  Peter H. McNerney

         (b) Principal Business Address:
                  60 South Sixth Street
                  Suite 3510
                  Minneapolis, MN   55402

         (c) Citizenship/Place of Organization

             Entities:

                  Coral Partners IV ("CP IV")                 Delaware
                  Coral Management Partners IV ("CMP IV")     Delaware

             Individuals:

                  Yuval Almog                                 United States
                  Peter H. McNerney                           United States

         (d) Title of Class of Securities:                    Common Stock
         (e) CUSIP No. 871951 10 9

Item 3.  Status of Person Filing:

         Not applicable.

                                  Page 6 of 10
<PAGE>
 
Item 4.  Ownership:

ENTITIES                                     CP IV            CMP IV   
                                           ---------         --------- 

(a)Beneficial Ownership                    1,099,964         1,099,964*

(b)Percentage of Class                          9.03%             9.03%

(c)(i)Sole Voting Power:                   1,099,964         1,099,964
(ii)Shared Voting Power:                           0                 0
(iii)Sole Dispositive Power:               1,099,964         1,099,964
(iv)Shared Dispositive Power:                      0                 0

INDIVIDUALS:                                 Almog            McNerney 
                                           ---------         --------- 

(a)Beneficial Ownership                    1,099,964*        1,109,964*

(b)Percentage of Class                          9.03%             9.12%

(c)(i)Sole Voting Power:                           0            10,000
(ii)Shared Voting Power:                   1,099,964         1,099,964
(iii)Sole Dispositive Power:                       0            10,000
(iv)Shared Dispositive Power:              1,099,964         1,099,964

* Pursuant to Rule 13d-4, the reporting person disclaims beneficial ownership of
  these securities except to the extent of his/her pecuniary interest therein.

Item 5.  Ownership of Five Percent or Less of a Class:

         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:

         Not applicable.

Item 7.  Identification and Classification of Subsidiary:

         Not applicable.

Item 8.  Identification and Classification of Group:

         Not applicable.

                                  Page 7 of 10
<PAGE>
 
Item 9.  Notice of Dissolution of Group:

         Not applicable.

Item 10.  Certification:

         Not applicable.

                                    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.

Dated: February 3, 1999

Coral Partners IV, a limited partnership
By: Coral Management Partners IV, Limited Partnership,
Its: General Partner

/s/ Peter H. McNerney  
- -----------------------
Peter H. McNerney
General Partner

Coral Management Partners IV, Limited Partnership,
By: General Partner

/s/ Peter H. McNerney  
- -----------------------
Peter H. McNerney
General Partner

By /s/ Yuval Almog
   -----------------------
   Yuval Almog

By /s/ Peter H. McNerney  
   -----------------------
   Peter H. McNerney


                                  Page 8 of 10
<PAGE>
 
                                  EXHIBIT INDEX

                                                              Sequentially
Exhibit                    Document Description               Numbered Page
- -------                    --------------------               -------------

  A                        Agreement of Joint Filing               10


                                  Page 9 of 10
<PAGE>
 
                                    EXHIBIT A

                            Agreement of Joint Filing

     Each of the undersigned hereby agrees that they are filing jointly pursuant
to Rule 13d-1(f)(1) of the Securities Exchange Act of 1934, as amended, the
Statement dated February 3, 1999, containing the information required by
Schedule 13G, for the shares of Common Stock of Symphonix Devices, Inc. which
they each beneficially hold.

Dated:  February 3, 1999

Coral Partners IV, a limited partnership
By: Coral Management Partners IV, Limited Partnership,
Its: General Partner

/s/ Peter H. McNerney  
- ------------------------
Peter H. McNerney
General Partner

Coral Management Partners IV, Limited Partnership,
By: General Partner

/s/ Peter H. McNerney  
- ------------------------
Peter H. McNerney
General Partner

By /s/ Yuval Almog
   ---------------------
   Yuval Almog

By /s/ Peter H. McNerney  
   ---------------------
   Peter H. McNerney


                                 Page 10 of 10


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