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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment ___)*
VIRTUSA CORPORATION
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
(Title of Class of Securities)
92827P102
(CUSIP Number)
December 31, 2007
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
|_| Rule 13d-1(b)
|_| Rule 13d-1(c)
|X| Rule 13d-1(d)
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*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).
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CUSIP NO. 92827P102 13G PAGE 2 OF 11 PAGES
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
JAV Management Associates III, L.L.C. - 77-0493794
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5. SOLE VOTING POWER
SHARES 2,880,168
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BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 0
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EACH 7. SOLE DISPOSITIVE POWER
REPORTING 2,880,168
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PERSON 8. SHARED DISPOSITIVE POWER
WITH 0
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,880,168
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10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[_]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
12.6%
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12. TYPE OF REPORTING PERSON
OO
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CUSIP NO. 92827P102 13G PAGE 3 OF 11 PAGES
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
JAFCO America Technology Fund III, L.P. - 77-0526700
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 5. SOLE VOTING POWER
SHARES 1,163,036
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BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 0
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EACH 7. SOLE DISPOSITIVE POWER
REPORTING 1,163,036
------ -------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 0
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,163,036
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10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[_]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.1%
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12. TYPE OF REPORTING PERSON
PN
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CUSIP NO. 92827P102 13G PAGE 4 OF 11 PAGES
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Andrew P. Goldfarb
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 5. SOLE VOTING POWER
SHARES 2,880,168
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BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 0
------ -------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 2,880,168
------ -------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 0
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,880,168
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10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[_]
------------ -------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
12.6%
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12. TYPE OF REPORTING PERSON
IN
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CUSIP NO. 92827P102 13G PAGE 5 OF 11 PAGES
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Barry J. Schiffman
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [_]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 5. SOLE VOTING POWER
SHARES 2,880,168
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BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 0
------ -------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 2,880,168
------ -------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 0
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,880,168
------------ -------------------------------------------------------------------
10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[_]
------------ -------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
12.6%
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12. TYPE OF REPORTING PERSON
IN
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CUSIP NO. 92827P102 13G PAGE 6 OF 11 PAGES
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Item 1(a). Name of Issuer:
Virtusa Corporation
Item 1(b). Address of Issuer's Principal Executive Offices:
2000 West Park Drive, Westborough, Massachusetts 01581
Item 2(a). Name of Person Filing:
This statement is being filed by JAV Management Associates
III, L.L.C. ("JAVMA"), Andrew P. Goldfarb and Barry J.
Schiffman with respect to shares of Common Stock (as defined
below) of the Issuer directly owned by JAFCO America
Technology Fund III, L.P. ("JATF"), JAFCO America Technology
Cayman Fund III, L.P. ("JATCF"), JAFCO USIT Fund III, L.P.
("USIT") and JAFCO America Technology Affiliates Fund III,
L.P. ("JATAF") (JATF, JATCF, USIT, and JATAF are sometimes
collectively referred to herein as the "Funds"). As of
December 31, 2007 JATF was the record holder of 1,163,036
shares of Common Stock, JATCF was the record holder of
1,061,252 shares of Common Stock, USIT was the record holder
of 513,295 shares of Common Stock, and JATAF was the record
holder of 126,611 shares of Common Stock.
JAVMA serves as the sole general partner of each of JATF,
JATCF, USIT and JATAF.
Andrew P. Goldfarb is one of two managing members of JAVMA.
Barry J. Schiffman is one of two managing members of JAVMA.
This statement is also being filed by JAVMA and JATF with
respect to the shares of Common Stock of the Issuer
individually owned by JAVMA and JATF, respectively (which
shares of Common Stock are also included in the filings for
JAVMA, Andrew P. Goldfarb and Barry J. Schiffman).
JAVMA, JATF, Andrew P. Goldfarb and Barry J. Schiffman are
sometimes individually referred to 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 each of the
Reporting Persons:
c/o Globespan Capital Management, LLC
One Boston Place, Suite 2810
Boston, MA 02108
Item 2(c). Citizenship:
JAVMA - Delaware
JATF - Delaware
Andrew P. Goldfarb - United States
Barry J. Schiffman - United States
Item 2(d). Title of Class of Securities:
Common Stock, par value $0.01 per share (the "Common Stock")
Item 2(e). CUSIP Number:
92827P102
Item 3. Not Applicable.
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CUSIP NO. 92827P102 13G PAGE 7 OF 11 PAGES
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Item 4. Ownership.
For JAVMA:
(a) Amount beneficially owned: 2,880,168 shares of Common
Stock
(b) Percent of class: 12.6%, based on the 22,837,909 shares
of Common Stock of the Issuer outstanding as of November
07, 2007 as reported in the Issuer's Quarterly Report on
Form 10-Q filed with the SEC on November 09, 2007.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
2,880,168
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the
disposition of: 2,880,168
(iv) Shared power to dispose or to direct the
disposition of: 0
For Andrew P. Goldfarb:
(a) Amount beneficially owned: 2,880,168
(b) Percent of class: 12.6%, based on the 22,837,909 shares
of Common Stock of the Issuer outstanding as of November
07, 2007 as reported in the Issuer's Quarterly Report on
Form 10-Q filed with the SEC on November 09, 2007.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
2,880,168
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the
disposition of: 2,880,168
(iv) Shared power to dispose or to direct the
disposition of: 0
For Barry J. Schiffman:
(a) Amount beneficially owned: 2,880,168 shares of Common
Stock
(b) Percent of class: 12.6%, based on the 22,837,909 shares
of Common Stock of the Issuer outstanding as of November
07, 2007 as reported in the Issuer's Quarterly Report on
Form 10-Q filed with the SEC on November 09, 2007.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
2,880,168
(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the
disposition of: 2,880,168
(iv) Shared power to dispose or to direct the
disposition of: 0
For JATF:
(a) Amount beneficially owned: 1,163,036 shares of Common
Stock
(b) Percent of class: 5.1%, based on the 22,837,909 shares of
Common Stock of the Issuer outstanding as of November 07,
2007 as reported in the Issuer's Quarterly Report on Form
10-Q filed with the SEC on November 09, 2007.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
1,163,036
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CUSIP NO. 92827P102 13G PAGE 8 OF 11 PAGES
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(ii) Shared power to vote or to direct the vote:
0
(iii) Sole power to dispose or to direct the
disposition of: 1,163,036
(iv) Shared power to dispose or to direct the
disposition of: 0
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.
The shares of Common Stock beneficially owned by each of
JAVMA, Andrew P. Goldfarb and Barry J. Schiffman are directly
owned by the Funds and JAVMA. JATF beneficially owns 5.1% of
the shares of Common Stock. Each of JATCF, USIT and JATAF
individually owns less than 5% of the shares of Common Stock.
JAVMA has the power to direct the receipt of dividends from,
or the proceeds from the sale of, the shares of Common Stock
held by the Funds.
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.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
Not applicable.
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CUSIP NO. 92827P102 13G PAGE 9 OF 11 PAGES
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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.
Date: February 14, 2008
JAV MANAGEMENT ASSOCIATES III, L.L.C.
By: /s/ Andrew P. Goldfarb
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Name: Andrew P. Goldfarb
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Title: Managing Member
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JAFCO AMERICA TECHNOLOGY FUND III, L.P.
By: JAV Management Associates III, L.L.C.
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By: /s/ Andrew P. Goldfarb
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Name: Andrew P. Goldfarb
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Title: Managing Member
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/s/ Andrew P. Goldfarb
----------------------------------------
Andrew P. Goldfarb
/s/ Barry J. Schiffman
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Barry J. Schiffman
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CUSIP NO. 92827P102 13G PAGE 10 OF 11 PAGES
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EXHIBIT INDEX
Exhibit 1. Joint Filing Agreement as required by Rule 13d-1(k)(1) under the
Securities Exchange Act of 1934, as amended.
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CUSIP NO. 92827P102 13G PAGE 11 OF 11 PAGES
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Exhibit 1
JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(k)(1)
The undersigned acknowledge and agree that the foregoing statement on Schedule
13G is filed on behalf of each of the undersigned and that all subsequent
amendments to this statement on Schedule 13G shall be filed on behalf of each of
the undersigned without the necessity of filing additional joint filing
statements. The undersigned acknowledge that each shall be responsible for the
timely filing of such amendments, and for the completeness and accuracy of the
information concerning him, her or it contained herein, but shall not be
responsible for the completeness and accuracy of the information concerning the
other entities or persons, except to the extent that he, she or it knows or has
reason to believe that such information is inaccurate.
Date: February 14, 2008
JAV MANAGEMENT ASSOCIATES III, L.L.C.
By: /s/ Andrew P. Goldfarb
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Name: Andrew P. Goldfarb
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Title: Managing Member
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JAFCO AMERICA TECHNOLOGY FUND III, L.P.
By: JAV Management Associates III, L.L.C.
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By: /s/ Andrew P. Goldfarb
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Name: Andrew P. Goldfarb
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Title: Managing Member
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/s/ Andrew P. Goldfarb
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Andrew P. Goldfarb
/s/ Barry J. Schiffman
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Barry J. Schiffman