NEW ENTERPRISE ASSOCIATES V LTD PARTNERSHIP ET AL
SC 13G, 1997-02-14
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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. _______________)*


                               Graphix Zone, Inc.
                               ------------------
                                (Name of Issuer)

                           Common Stock, no par value
                         ------------------------------
                         (Title of Class of Securities)

                                    38870L10
                                 --------------
                                 (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>
- -------------------------                           ---------------------------
|CUSIP NO. 38870L10     |           13G            |   Page  2  of  20  Pages |
|          -----------  |                          |        ---     ---       |
- -------------------------                           ---------------------------

|--------|---------------------------------------------------------------------|
|  1     |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  New Enterprise Associates V, 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 shares                                 |
|        NUMBER OF         |--------| -----------------------------------------|
|         SHARES           |   6    | SHARED VOTING POWER                      |
|      BENEFICIALLY        |        | 900,114 shares                           |
|        OWNED BY          ----------------------------------------------------|
|          EACH            |   7    | SOLE DISPOSITIVE POWER                   |
|       REPORTING          |        | 0 shares                                 |
|         PERSON           ----------------------------------------------------|
|          WITH            |   8    | SHARED DISPOSITIVE POWER                 |
|                          |        | 900,114 shares                           |
|--------|---------------------------------------------------------------------|
|  9     | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        |
|        |                                                                     |
|        | 900,114 shares                                                      |
|--------|- -------------------------------------------------------------------|
|  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 *                                          |
|        | PN                                                                  |
- --------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!                    



<PAGE>
- -------------------------                           ---------------------------
|CUSIP NO. 38870L10     |           13G            |   Page  3  of  20  Pages |
|          -----------  |                          |        ---     ---       |
- -------------------------                           ---------------------------

|--------|---------------------------------------------------------------------|
|  1     |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  NEA Partners V, 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 shares                                 |
|        NUMBER OF         |--------| -----------------------------------------|
|         SHARES           |   6    | SHARED VOTING POWER                      |
|      BENEFICIALLY        |        | 900,114 shares                           |
|        OWNED BY          ----------------------------------------------------|
|          EACH            |   7    | SOLE DISPOSITIVE POWER                   |
|       REPORTING          |        | 0 shares                                 |
|         PERSON           ----------------------------------------------------|
|          WITH            |   8    | SHARED DISPOSITIVE POWER                 |
|                          |        | 900,114 shares                           |
|--------|---------------------------------------------------------------------|
|  9     | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        |
|        |                                                                     |
|        | 900,114 shares                                                      |
|--------|- -------------------------------------------------------------------|
|  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 *                                          |
|        | PN                                                                  |
- --------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!                    

<PAGE>
- -------------------------                           ---------------------------
|CUSIP NO. 38870L10     |           13G            |   Page  4  of  20  Pages |
|          -----------  |                          |        ---     ---       |
- -------------------------                           ---------------------------

|--------|---------------------------------------------------------------------|
|  1     |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  Frank A. Bonsal, Jr.                                               |
|--------|---------------------------------------------------------------------|
|  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 shares                                 |
|        NUMBER OF         |--------| -----------------------------------------|
|         SHARES           |   6    | SHARED VOTING POWER                      |
|      BENEFICIALLY        |        | 900,114 shares                           |
|        OWNED BY          ----------------------------------------------------|
|          EACH            |   7    | SOLE DISPOSITIVE POWER                   |
|       REPORTING          |        | 0 shares                                 |
|         PERSON           ----------------------------------------------------|
|          WITH            |   8    | SHARED DISPOSITIVE POWER                 |
|                          |        | 900,114 shares                           |
|--------|---------------------------------------------------------------------|
|  9     | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        |
|        |                                                                     |
|        | 900,114 shares                                                      |
|--------|- -------------------------------------------------------------------|
|  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 INSTRUCTIONS BEFORE FILLING OUT!                    


<PAGE>
- -------------------------                           ---------------------------
|CUSIP NO. 38870L10     |           13G            |   Page  5  of  20  Pages |
|          -----------  |                          |        ---     ---       |
- -------------------------                           ---------------------------

|--------|---------------------------------------------------------------------|
|  1     |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  Nancy L. Dorman                                                    |
|--------|---------------------------------------------------------------------|
|  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 shares                                 |
|        NUMBER OF         |--------| -----------------------------------------|
|         SHARES           |   6    | SHARED VOTING POWER                      |
|      BENEFICIALLY        |        | 900,114 shares                           |
|        OWNED BY          ----------------------------------------------------|
|          EACH            |   7    | SOLE DISPOSITIVE POWER                   |
|       REPORTING          |        | 0 shares                                 |
|         PERSON           ----------------------------------------------------|
|          WITH            |   8    | SHARED DISPOSITIVE POWER                 |
|                          |        | 900,114 shares                           |
|--------|---------------------------------------------------------------------|
|  9     | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        |
|        |                                                                     |
|        | 900,114 shares                                                      |
|--------|- -------------------------------------------------------------------|
|  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 INSTRUCTIONS BEFORE FILLING OUT!                    


<PAGE>
- -------------------------                           ---------------------------
|CUSIP NO. 38870L10     |           13G            |   Page  6  of  20  Pages |
|          -----------  |                          |        ---     ---       |
- -------------------------                           ---------------------------

|--------|---------------------------------------------------------------------|
|  1     |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  C. Richard Kramlich                                                |
|--------|---------------------------------------------------------------------|
|  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 shares                                 |
|        NUMBER OF         |--------| -----------------------------------------|
|         SHARES           |   6    | SHARED VOTING POWER                      |
|      BENEFICIALLY        |        | 900,114 shares                           |
|        OWNED BY          ----------------------------------------------------|
|          EACH            |   7    | SOLE DISPOSITIVE POWER                   |
|       REPORTING          |        | 0 shares                                 |
|         PERSON           ----------------------------------------------------|
|          WITH            |   8    | SHARED DISPOSITIVE POWER                 |
|                          |        | 900,114 shares                           |
|--------|---------------------------------------------------------------------|
|  9     | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        |
|        |                                                                     |
|        | 900,114 shares                                                      |
|--------|- -------------------------------------------------------------------|
|  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 INSTRUCTIONS BEFORE FILLING OUT!                    


<PAGE>
- -------------------------                           ---------------------------
|CUSIP NO. 38870L10     |           13G            |   Page  7  of  20  Pages |
|          -----------  |                          |        ---     ---       |
- -------------------------                           ---------------------------

|--------|---------------------------------------------------------------------|
|  1     |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  Arthur J. Marks                                                    |
|--------|---------------------------------------------------------------------|
|  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 shares                                 |
|        NUMBER OF         |--------| -----------------------------------------|
|         SHARES           |   6    | SHARED VOTING POWER                      |
|      BENEFICIALLY        |        | 900,114 shares                           |
|        OWNED BY          ----------------------------------------------------|
|          EACH            |   7    | SOLE DISPOSITIVE POWER                   |
|       REPORTING          |        | 0 shares                                 |
|         PERSON           ----------------------------------------------------|
|          WITH            |   8    | SHARED DISPOSITIVE POWER                 |
|                          |        | 900,114 shares                           |
|--------|---------------------------------------------------------------------|
|  9     | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        |
|        |                                                                     |
|        | 900,114 shares                                                      |
|--------|- -------------------------------------------------------------------|
|  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 INSTRUCTIONS BEFORE FILLING OUT!                    


<PAGE>
- -------------------------                           ---------------------------
|CUSIP NO. 38870L10     |           13G            |   Page  8  of  20  Pages |
|          -----------  |                          |        ---     ---       |
- -------------------------                           ---------------------------

|--------|---------------------------------------------------------------------|
|  1     |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  Thomas C. McConnell                                                |
|--------|---------------------------------------------------------------------|
|  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 shares                                 |
|        NUMBER OF         |--------| -----------------------------------------|
|         SHARES           |   6    | SHARED VOTING POWER                      |
|      BENEFICIALLY        |        | 900,114 shares                           |
|        OWNED BY          ----------------------------------------------------|
|          EACH            |   7    | SOLE DISPOSITIVE POWER                   |
|       REPORTING          |        | 0 shares                                 |
|         PERSON           ----------------------------------------------------|
|          WITH            |   8    | SHARED DISPOSITIVE POWER                 |
|                          |        | 900,114 shares                           |
|--------|---------------------------------------------------------------------|
|  9     | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        |
|        |                                                                     |
|        | 900,114 shares                                                      |
|--------|- -------------------------------------------------------------------|
|  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 INSTRUCTIONS BEFORE FILLING OUT!                    


<PAGE>
- -------------------------                           ---------------------------
|CUSIP NO. 38870L10     |           13G            |   Page  9  of  20  Pages |
|          -----------  |                          |        ---     ---       |
- -------------------------                           ---------------------------

|--------|---------------------------------------------------------------------|
|  1     |  NAME OF REPORTING PERSON                                           |
|        |  S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON                  |
|        |                                                                     |
|        |  Charles W. Newhall III                                             |
|--------|---------------------------------------------------------------------|
|  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 shares                                 |
|        NUMBER OF         |--------| -----------------------------------------|
|         SHARES           |   6    | SHARED VOTING POWER                      |
|      BENEFICIALLY        |        | 900,114 shares                           |
|        OWNED BY          ----------------------------------------------------|
|          EACH            |   7    | SOLE DISPOSITIVE POWER                   |
|       REPORTING          |        | 0 shares                                 |
|         PERSON           ----------------------------------------------------|
|          WITH            |   8    | SHARED DISPOSITIVE POWER                 |
|                          |        | 900,114 shares                           |
|--------|---------------------------------------------------------------------|
|  9     | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON        |
|        |                                                                     |
|        | 900,114 shares                                                      |
|--------|- -------------------------------------------------------------------|
|  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 INSTRUCTIONS BEFORE FILLING OUT!                    


<PAGE>

Item 1(a). Name of Issuer: Graphix Zone, Inc.
           --------------

Item 1(b). Address of Issuer's Principal Executive Offices: 
           -----------------------------------------------
          42 Corporate Park, Suite 200, Irvine, CA 92614
           

Item 2(a). Name of Persons Filing:  
           ----------------------
          New Enterprise Associates V, Limited Partnership ("NEA V"), NEA
          Partners V, Limited Partnership ("NEA Partners V"), which is the sole
          general partner of NEA V, and Frank A. Bonsal, Jr. ("Bonsal"), Nancy
          L. Dorman ("Dorman"), C. Richard Kramlich ("Kramlich"), Arthur J.
          Marks ("Marks"), Thomas C. McConnell ("McConnell") and Charles W.
          Newhall III ("Newhall") ( collectively, the "General Partners"). The
          General Partners are individual general partners of NEA Partners V.
          The persons named in this paragraph are referred to individually
          herein as a "Reporting Person" and collectively as the "Reporting
          Persons."

Item 2(b). Address of Principal Business Office or, if None, Residence:
           ------------------------------------------------------------
          The address of the principal business office of NEA V, NEA Partners V,
          Bonsal, Dorman, Marks and Newhall is New Enterprise Associates, 1119
          St. Paul Street, Baltimore, Maryland 21202. The address of the
          principal business office of McConnell and Kramlich is New Enterprise
          Associates, 2490 Sand Hill Road, Menlo Park, California 94025.

           

Item 2(c). Citizenship:
           -----------
          Each of NEA V and NEA Partners V is a limited partnership organized
          under the laws of the State of Delaware. Each of the General Partners
          is a United States citizen.

Item 2(d). Title of Class of Securities:
           ----------------------------
          Common Stock, no par value ("Common Stock").

Item 2(e). CUSIP Number:  38870L10
           ------------

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
                   Securities Exchange Act of 1934 (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 of 1940.

          (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) of the 
                   Act.

                              Page 10 of 20 Pages

<PAGE>


          (g)  [ ] Parent Holding Company, in accordance with Rule
                   13d-1(b)(ii)(G) of the Act.

          (h)  [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H) of the Act.

          Not applicable. This Schedule 13G is not being filed pursuant to Rule
          13d-1(b) or Rule 13d-2(b).

Item 4. Ownership.
        ---------

          (a)  Amount Beneficially Owned: NEA V is the record owner of 900,114
               shares as of December 31, 1996 (the "Record Shares"). As the sole
               general partner of NEA V, NEA Partners V may be deemed to own
               beneficially the Record Shares. As general partners of NEA
               Partners V, which is the sole general partner of NEA V, each of
               the General Partners may also be deemed to own beneficially the
               Record Shares.

          (b)  Percent of Class: Each Reporting Person: 8.5%. The foregoing
               percentage is calculated based on the 10,629,978 shares of Common
               Stock reported to be outstanding in the Quarterly Report on Form
               10-Q of Graphix Zone, Inc. for the fiscal quarter ended September
               30, 1996, as adjusted pursuant to Rule 13d-13(d)(1).

          (c)  Number of shares as to which such person has:

               (i)  sole power to vote or to direct the vote: 0 shares for each
                    Reporting Person.

               (ii) shared power to vote or to direct the vote: 900,114 shares
                    for each Reporting Person.

               (iii) sole power to dispose or to direct the disposition of: 0
                    shares for each Reporting Person.

               (iv) shared power to dispose or to direct the disposition of:
                    900,114 shares for each Reporting Person.


          Each Reporting Person disclaims beneficial ownership of such shares of
          Common Stock except, in the case of NEA V for the 900,114 shares it
          holds of record.

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 11 of 20 Pages

<PAGE>

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.
        ----------------------------------------------------------
          Not applicable. The Reporting Persons expressly disclaim membership in
          a "group" as used in Rule 13d-1(b)(ii)(H).


Item 9. Notice of Dissolution of Group.
        -------------------------------
          Not applicable.


Item 10. Certification.
         --------------
          Not applicable. This statement on Schedule 13G is not filed pursuant
          to Rule 13d-1(b).




                              Page 12 of 20 Pages

<PAGE>

                                   SIGNATURE


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

Date: February 10, 1997


NEW ENTERPRISE ASSOCIATES V, LIMITED PARTNERSHIP

By: NEA PARTNERS V, LIMITED PARTNERSHIP

        By:              *
           ---------------------------------
               Charles W. Newhall III
               General Partner


NEA PARTNERS V, LIMITED PARTNERSHIP

By:              *
   ---------------------------------
       Charles W. Newhall III
       General Partner


           *
- -------------------------
Frank A. Bonsal, Jr.


           *
- -------------------------
C. Richard Kramlich


           *
- -------------------------
Arthur J. Marks


           *
- -------------------------
Thomas C. McConnell


           *
- -------------------------
Charles W. Newhall III


                              Page 13 of 20 Pages

<PAGE>

                                 *By:    /s/ Nancy L. Dorman
                                         ------------------------------------
                                          Nancy L. Dorman, in her individual
                                          capacity and as Attorney-in-Fact

- --------------------------------------------------------------------------------
This Schedule 13G was executed by Nancy L. Dorman pursuant to Powers of Attorney
filed with the Securities and Exchange Commission on February 13, 1992 in
connection with a Schedule 13G for Advanced Interventional Systems Inc. and on
February 13, 1995 in connection with a Schedule 13G for Acuity Imaging, Inc.,
which Powers of Attorney are incorporated herein by reference and copies of
which are attached hereto as Exhibit 2.

                              Page 14 of 20 Pages
<PAGE>

                                                                       Exhibit 1
                                                                       ---------

                                   AGREEMENT

     Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934, the
undersigned hereby agree that only one statement containing the information
required by Schedule 13G need be filed with respect to the ownership by each of
the undersigned of shares of Common Stock of Graphix Zone, Inc.

     EXECUTED as a sealed instrument this 10th day of February, 1997.


NEW ENTERPRISE ASSOCIATES V, LIMITED PARTNERSHIP

By: NEA PARTNERS V, LIMITED PARTNERSHIP

        By:              *
           --------------------------------
               Charles W. Newhall III
               General Partner


NEA PARTNERS V, LIMITED PARTNERSHIP

By:              *
   --------------------------------
       Charles W. Newhall III
       General Partner


             *
- ------------------------------
Frank A. Bonsal, Jr.


             *
- ------------------------------
C. Richard Kramlich


             *
- ------------------------------
Arthur J. Marks


             *
- ------------------------------
Thomas C. McConnell


             *
- ------------------------------
Charles W. Newhall III


                              Page 15 of 20 Pages
<PAGE>

                            *By:    /s/ Nancy L. Dorman
                                    ------------------------------------
                                     Nancy L. Dorman, in her individual
                                     capacity and as Attorney-in-Fact

- --------------------------------------------------------------------------------
This Agreement was executed by Nancy L. Dorman pursuant to Powers of Attorney
filed with the Securities and Exchange Commission on February 13, 1992 in
connection with a Schedule 13G for Advanced Interventional Systems Inc. and on
February 13, 1995 in connection with a Schedule 13G for Acuity Imaging, Inc.,
which Powers of Attorney are incorporated herein by reference and copies of
which are attached hereto as Exhibit 2.



                              Page 16 of 20 Pages

<PAGE>

Exhibit 2
- ---------

                               POWER OF ATTORNEY

     KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below hereby constitutes and appoints Nancy L. Dorman and Charles W. Newhall
III, and each of them, with full power to act without the other, his true and
lawful attorney-in-fact, with full power of substitution, to sign any and all
instruments, certificates and documents that may be necessary, desirable or
appropriate to be executed on behalf of himself as an individual or in his
capacity as a general partner of any partnership, pursuant to section 13 or 16
of 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 Exchange Act or by the By-laws of the National Association of
Securities Dealers, Inc., granting unto said attorney-in-fact full power and
authority to do and perform each and every act and thing necessary, desirable or
appropriate, fully to all intents and purposes as he might or could do in
person, thereby ratifying and confirming all that said attorney-in-fact, or his
substitutes, may lawfully do or cause to be done by virtue hereof.

     IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 23rd
day of April, 1991.


                                /s/ Raymond L. Bank
                                ----------------------------
                                Raymond L. Bank
                             
                             
                                /s/ Thomas R. Baruch
                                ----------------------------
                                Thomas R. Baruch
                             
                             
                                /s/ Cornelius C. Bond, Jr.
                                ----------------------------
                                Cornelius C. Bond, Jr.
                             
                             
                                /s/ Frank A. Bonsal, Jr.
                                ----------------------------
                                Frank A. Bonsal, Jr.
                             
                             
                                /s/ James A. Cole
                                ----------------------------
                                James A. Cole
     
                              Page 17 of 20 Pages

<PAGE>

                                     /s/ Nancy L. Dorman
                                     ----------------------------
                                     Nancy L. Dorman
                                    
                                    
                                     /s/ Neal M. Douglas
                                     ----------------------------
                                     Neal M. Douglas
                                    
                                    
                                     /s/ John W. Glynn, Jr.
                                     ----------------------------
                                     John W. Glynn, Jr.
                                    
                                    
                                     /s/ Curran W. Harvey
                                     ----------------------------
                                     Curran W. Harvey
                                    
                                    
                                     /s/ Ronald Kase
                                     ----------------------------
                                     Ronald Kase
       

                                     /s/ C. Richard Kramlich
                                     ----------------------------
                                     C. Richard Kramlich
                             
                             
                                     /s/ Robert F. Kuhling
                                     ----------------------------
                                     Robert F. Kuhling
                             
                             
                                     /s/ Arthur J. Marks
                                     ----------------------------
                                     Arthur J. Marks
                             
                             
                                     /s/ Thomas C. McConnell
                                     ----------------------------
                                     Thomas C. McConnell
                             
                             
                                     /s/ Donald L. Murfin
                                     ----------------------------
                                     Donald L. Murfin


                                     /s/ H. Leland Murphy
                                     ----------------------------
                                     H. Leland Murphy

                              Page 18 of 20 Pages

<PAGE>

                             
                             
                                     /s/ John M. Nehra
                                     ----------------------------
                                     John M. Nehra
                             
                             
                                     /s/ Charles W. Newhall III
                                     ----------------------------
                                     Charles W. Newhall III
                             
                             
                                     /s/ Terry L. Opdendyk
                                     ----------------------------
                                     Terry L. Opdendyk
                             
                             
                                     /s/ Barbara J. Perrier
                                     ----------------------------
                                     Barbara J. Perrier


                                     /s/ C. Vincent Prothro
                                     ----------------------------
                                     C. Vincent Prothro
                             
                             
                                     /s/ C. Woodrow Rea, Jr.
                                     ----------------------------
                                     C. Woodrow Rea, Jr.
                             
                             
                                     /s/ Howard D. Wolfe, Jr.
                                     ----------------------------
                                     Howard D. Wolfe, Jr.
                             
                             
                                     /s/ Nora M. Zietz
                                     ----------------------------
                                     Nora M. Zietz
                             

                              Page 19 of 20 Pages

<PAGE>
                                POWER OF ATTORNEY

     KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below hereby constitutes and appoints Nancy L. Dorman and Charles W. Newhall
III, and each of them, with full power to act without the other, his true and
lawful attorney-in-fact, with full power of substitution, to sign any and all
instruments, certificates and documents that may be necessary, desirable or
appropriate to be executed on behalf of himself as an individual or in his
capacity as a general partner of any partnership, pursuant to section 13 or 16
of 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 Exchange Act or by the By-laws of the National Association of
Securities Dealers, Inc., granting unto said attorney-in-fact full power and
authority to do and perform each and every act and thing necessary, desirable or
appropriate, fully to all intents and purposes as he might or could do in
person, thereby ratifying and confirming all that said attorney-in-fact, or his
substitutes, may lawfully do or cause to be done by virtue hereof.

     IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 1st
day of January, 1994.

                                        /s/ Peter J. Barris
                                        ---------------------------
                                        Peter J. Barris
                                     
                                     
                                        /s/ Debra E. King
                                        ---------------------------
                                        Debra E. King
                                     
                                     
                                        /s/ Peter T. Morris
                                        ---------------------------
                                        Peter. T. Morris
                                     
                                     
                                        /s/ Hugh Y. Rienhoff, Jr.
                                        ---------------------------
                                        Hugh Y. Rienhoff, Jr.
                                     
                                     
                                        /s/ Alexander Slusky
                                        ---------------------------
                                        Alexander Slusky
                                     
                                     
                                        /s/ Louis B. Van Dyck
                                        ---------------------------
                                        Louis B. Van Dyck
                                     
               
                             Page 20 of 20 Pages


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