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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. TWO )*
Hello Direct, Inc.
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
423402106
(CUSIP Number)
*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 21 pages
<PAGE> 2
CUSIP NO. 423402106 13G PAGE 2 OF 21 PAGES
------------- -- -- ------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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
363,912
NUMBER OF -------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 869,694
EACH
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
363,912
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
869,694
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,233,606
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
24.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 21 pages
<PAGE> 3
CUSIP NO. 423402106 13G PAGE 3 OF 21 PAGES
------------- -- -- ------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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
869,694
NUMBER OF -------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 363,912
EACH
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
869,694
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
363,912
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,233,606
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
24.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 21 pages
<PAGE> 4
CUSIP NO. 423402106 13G PAGE 4 OF 21 PAGES
------------- -- -- ------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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 1,233,606
EACH
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,233,606
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,233,606
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
24.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 21 pages
<PAGE> 5
CUSIP NO. 423402106 13G PAGE 5 OF 21 PAGES
------------- -- -- ------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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 869,694
EACH
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
869,694
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
869,694
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
17.2%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 21 pages
<PAGE> 6
CUSIP NO. 423402106 13G PAGE 6 OF 21 PAGES
------------- -- -- ------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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 1,233,696
EACH
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,233,606
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,233,606
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
24.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 21 pages
<PAGE> 7
CUSIP NO. 423402106 13G PAGE 7 OF 21 PAGES
------------- -- -- ------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Harry T. Rein
- --------------------------------------------------------------------------------
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 1,233,606
EACH
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,233,606
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,233,606
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
24.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 21 pages
<PAGE> 8
CUSIP NO. 423402106 13G PAGE 8 OF 21 PAGES
------------- -- -- ------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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 1,233,606
EACH
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,233,606
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,233,606
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
24.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 21 pages
<PAGE> 9
CUSIP NO. 423402106 13G PAGE 9 OF 21 PAGES
------------- -- -- ------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gregory Kopchinsky
- --------------------------------------------------------------------------------
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 1,233,606
EACH
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,233,606
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,233,606
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
24.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 21 pages
<PAGE> 10
CUSIP NO. 423402106 13G PAGE 10 OF 21 PAGES
------------- -- -- ------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert J. Migliorino
- --------------------------------------------------------------------------------
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 1,233,606
EACH
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,233,606
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,233,606
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
24.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 21 pages
<PAGE> 11
CUSIP NO. 423402106 13G PAGE 11 OF 21 PAGES
------------- -- -- ------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Eric A. Young
- --------------------------------------------------------------------------------
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 1,233,606
EACH
REPORTING -------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
0
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,233,606
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,233,606
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
24.4%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 21 pages
<PAGE> 12
Item 1(a). Name of Issuer
Hello Direct, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices
5884 Eden Park Place
San Jose, CA 95138
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 Harry T. Rein, James J.
Fitzpatrick, Gregory Kopchinsky, Robert J. Migliorino and Eric A.
Young (collectively, the "Partners"). 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 Partners (who serve as general partners 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, Canaan Corporation and
Eric A. Young, 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. The
principal business address of Eric A. Young is 2884 Sand Hill Road,
Suite 115, Menlo Park, CA 94025.
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. Each of the Partners are citizens of the United States.
Item 2(d). Title of Class of Securities
This Schedule 13G report relates to the Common Stock, par value $.01
("Common Stock") of Hello Direct, Inc. ("the Company").
Page 12 of 21 pages
<PAGE> 13
Item 2(e). CUSIP Number
CUSIP number 423402106.
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is 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 13d-1(b)(1)(ii)(F),
(g) ___ Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G); see
Item 7,
(h) ___ Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
Not Applicable
Item 4. Ownership
(a) Canaan Venture owns 363,912 shares of Common Stock and Canaan Venture
Offshore owns 869,694 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 1,233,606
shares of Common Stock, representing beneficial ownership of 24.4% 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 1,233,606 shares, representing beneficial
ownership of 24.4%. Canaan Corporation, by virtue of its status as a
general partner of Canaan Venture Offshore, may be deemed to be the
beneficial owner of 869,694 shares, representing beneficial ownership of
17.2%. By virtue of its status as general partner of Canaan Management,
Canaan Partners may be deemed to be the beneficial owner of 1,233,606
shares, representing beneficial ownership of 24.4%. By virtue of their
status as general partners of Canaan Partners, the Partners may each be
deemed to be the beneficial owner of 1,233,606 shares representing in
the case of each Partner, beneficial ownership of 24.4%. The foregoing
percentages are calculated based on the 5,057,263 shares of Common Stock
reported to be outstanding in the Quarterly Report on Form 10-Q of the
Issuer for the quarter ended September 30, 1997.
Page 13 of 21 pages
<PAGE> 14
<TABLE>
<CAPTION>
NUMBER OF SHARES
--------------------------------------------------
(c) Reporting Person (i) (ii) (iii) (iv)
- --- ---------------- -------- ---------- -------- ----------
<S> <C> <C> <C> <C>
Canaan Venture 363,912 869,694 363,912 869,694
Canaan Venture Offshore 869,694 363,912 869,694 363,912
Canaan Management 0 1,233,606 0 1,233,606
Canaan Corporation 0 869,694 0 869,694
Canaan Partners 0 1,233,606 0 1,233,606
Harry T. Rein 0 1,233,606 0 1,233,606
James J. Fitzpatrick 0 1,233,606 0 1,233,606
Gregory Kopchinsky 0 1,233,606 0 1,233,606
Robert J. Migliorino 0 1,233,606 0 1,233,606
Eric A. Young 0 1,233,606 0 1,233,606
</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.
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)(H).
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, 1998
Page 14 of 21 pages
<PAGE> 15
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 15 of 21 pages
<PAGE> 16
*
- ---------------------------------
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 16 of 21 pages
<PAGE> 1
Exhibit 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f)(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
Hello Direct, 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 17 of 21 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 18 of 21 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 19 of 21 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 20 of 21 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 21 of 21 pages
