UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Information to be Included in Statements Filed
Pursuant to Rules 13d-1(b), (c) and (d) and Amendments
Thereto Filed Pursuant to Rule 13d-2(b)
Under the Securities Exchange Act of 1934
(Amendment No. __)*
Open Solutions, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
68371P 10 2
--------------------------------------------------------------------------------
(CUSIP Number)
December 31, 2003
--------------------------------------------------------------------------------
(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)
*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).
================================================ =======================
CUSIP NO. 68371P 10 2 13G Page 2 of 13 Pages
================================================ =======================
============= =========================================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Axiom Venture Partners, L.P.
06-1392421
------------- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
------------- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------- ---------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
================================================ ======= ==============================================================
5 SOLE VOTING POWER
NUMBER OF SHARES 682,046
------- --------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
0
OWNED BY
------- --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
682,046
REPORTING
------- --------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
0
============ ==========================================================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
682,046
------------ ----------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
------------ ----------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.1%
------------ ----------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
============ ==========================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
================================================ =======================
CUSIP NO. 68371P 10 2 13G Page 3 of 13 Pages
================================================ =======================
============= =========================================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Axiom Venture Associates, L.P.
06-1392419
------------- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
------------- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------- ---------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
================================================ ======= ==============================================================
5 SOLE VOTING POWER
NUMBER OF SHARES 682,046
------- --------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
0
OWNED BY
------- --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
682,046
REPORTING
------- --------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
0
============ ==========================================================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
682,046
------------ ----------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
------------ ----------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.1%
------------ ----------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
============ ==========================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
================================================ =======================
CUSIP NO. 68371P 10 2 13G Page 4 of 13 Pages
================================================ =======================
============= =========================================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Axiom Venture Partners III, L.P.
06-1580669
------------- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
------------- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------- ---------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
================================================ ======= ==============================================================
5 SOLE VOTING POWER
NUMBER OF SHARES 235,294
------- --------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
0
OWNED BY
------- --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
235,294
REPORTING
------- --------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
0
============ ==========================================================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
235,294
------------ ----------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
------------ ----------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.4%
------------ ----------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
============ ==========================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
================================================ =======================
CUSIP NO. 68371P 10 2 13G Page 5 of 13 Pages
================================================ =======================
============= =========================================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Axiom Venture Associates III, L.P.
06-1580668
------------- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
------------- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------- ---------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
================================================ ======= ==============================================================
5 SOLE VOTING POWER
NUMBER OF SHARES 235,294
------- --------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
0
OWNED BY
------- --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
235,294
REPORTING
------- --------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
0
============ ==========================================================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
235,294
------------ ----------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
------------ ----------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.4%
------------ ----------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
============ ==========================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
================================================ =======================
CUSIP NO. 68371P 10 2 13G Page 6 of 13 Pages
================================================ =======================
============= =========================================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Axiom Venture Advisors, Inc.
06-1392417
------------- ---------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
------------- ---------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------- ---------------------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
================================================ ======= ==============================================================
5 SOLE VOTING POWER
NUMBER OF SHARES 235,094
------- --------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
0
OWNED BY
------- --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
235,094
REPORTING
------- --------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
0
============ ==========================================================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
235,094
------------ ----------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
------------ ----------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.4%
------------ ----------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
============ ==========================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
================================================ =======================
CUSIP NO. 68371P 10 2 13G Page 7 of 13 Pages
================================================ =======================
============= =========================================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Alan M. Mendelson
------------- ---------------------------------------------------------------------------------------------------------
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
NUMBER OF SHARES 0
------- --------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
917,340
OWNED BY
------- --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
0
REPORTING
------- --------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
917,340
============ ==========================================================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
917,340
------------ ----------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
------------ ----------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.5%
------------ ----------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
============ ==========================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
================================================ =======================
CUSIP NO. 68371P 10 2 13G Page 8 of 13 Pages
================================================ =======================
============= =========================================================================================================
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Samuel F. McKay
------------- ---------------------------------------------------------------------------------------------------------
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
NUMBER OF SHARES 0
------- --------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
917,340
OWNED BY
------- --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
0
REPORTING
------- --------------------------------------------------------------
PERSON WITH 8 SHARED DISPOSITIVE POWER
917,340
============ ==========================================================================================================
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
917,340
------------ ----------------------------------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
------------ ----------------------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.5%
------------ ----------------------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
============ ==========================================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Item 1(a). Name of Issuer:
Open Solutions, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
300 Winding Brook Drive
Glastonbury, CT 06033
Item 2(a). Name of Person Filing:
Axiom Venture Partners, L.P. ("AVP")
Axiom Venture Associates, L.P. ("AVA")
Axiom Venture Partners III, L.P. ("AVPIII")
Axiom Venture Associates III, L.P. ("AVAIII")
Axiom Venture Advisors, Inc. ("AV Advisors")
Alan M. Mendelson ("Mendelson")
Samuel F. McKay ("McKay")
Item 2(b). Address of Principal Business Office or, if None, Residence:
Cityplace II - 17th Floor
185 Asylum Street
Hartford, CT 06103
Item 2(c). Citizenship:
Entities: AVP -- Delaware
AVA -- Delaware
AVPIII -- Delaware
AVAIII -- Delaware
AV Advisors -- Connecticut
Individuals: Mendelson -- United States
McKay -- United States
Item 2(d). Title of Class of Securities:
Common Stock
Item 2(e). CUSIP Number:
68371P 10 2
Page 9 of 13 pages
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or
13d-2(b) or (c), Check Whether the Person Filing is a:
NOT APPLICABLE
(a) [ ] Broker or dealer registered under Section 15 of the
Exchange Act.
(b) [ ] Bank as defined in Section 3(a)(6) of the Exchange
Act.
(c) [ ] Insurance company as defined in Section 3(a)(19) of
the Exchange Act.
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act.
(e) [ ] An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E).
(f) [ ] An employee benefit plan or endowment fund in
accordance with Rule 13d-1(b)(1)(ii)(F).
(g) [ ] A parent holding company or control person in
accordance with Rule 13d-1(b)(1)(ii)(G).
(h) [ ] A savings association as defined in Section 3(b) of
the Federal Deposit Insurance Act.
(i) [ ] A church plan that is excluded from the definition of
an investment company under Section 3(c)(14) of the
Investment Company Act.
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this
box. [ ]
Item 4. Ownership
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
Page 10 of 13 pages
----------- -------------- ---------- ----------- ---------- ----------- ----------- ------------- ----------
AV
AVP AVA AVPIII AVAIII Advisors Mendelson McKay
----------- -------------- ---------- ----------- ---------- ----------- ----------- ------------- ----------
(a) Amount 682,046 682,046 235,294 235,294 235,294 917,340 917,340
Beneficially
Owned
----------- -------------- ---------- ----------- ---------- ----------- ----------- ------------- ----------
(b) Percent of
Class (%) 4.1 4.1 1.4 1.4 1.4 5.5 5.5
----------- -------------- ---------- ----------- ---------- ----------- ----------- ------------- ----------
(c) (i) Sole Voting 682,046 682,046 235,294 235,294 235,294 0 0
Power
----------- -------------- ---------- ----------- ---------- ----------- ----------- ------------- ----------
(ii)
Shared 0 0 0 0 0 917,340 917,340
Voting Power
----------- -------------- ---------- ----------- ---------- ----------- ----------- ------------- ----------
(iii)
Sole 682,046 682,046 235,294 235,294 235,294 0 0
Dispositive
Power
----------- -------------- ---------- ----------- ---------- ----------- ----------- ------------- ----------
(iv)
Shared 0 0 0 0 0 917,340 917,340
Dispositive
Power
----------- -------------- ---------- ----------- ---------- ----------- ----------- ------------- ----------
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [ ].
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
NOT APPLICABLE
Page 11 of 13 pages
Item 9. Notice of Dissolution of Group
NOT APPLICABLE
Item 10. Certification
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 17, 2004
AXIOM VENTURE PARTNERS, L.P. AXIOM VENTURE PARTNERS III, L.P.
By: Axiom Venture Associates, L.P. By: Axiom Venture Associates III, L.P.
------------------------------ ----------------------------------
Its general partner Its general partner
By: /s/ Alan M. Mendelson By: /s/ Axiom Venture Advisors, Inc.
-------------------------- ----------------------------------
General Partner Its general partner
By: /s/ Alan M. Mendelson
------------------------------
Chief Executive Officer
AXIOM VENTURE ASSOCIATES, L.P. AXIOM VENTURE ASSOCIATES III, L.P.
By: /s/ Alan M. Mendelson By: /s/ Axiom Venture Advisors, Inc.
------------------------------- ----------------------------------
General Partner Its general partner
By: /s/ Alan M. Mendelson
----------------------------------
Chief Executive Officer
/s/ Alan M. Mendelson AXIOM VENTURE ADVISORS, INC.
----------------------
Alan M. Mendelson
By: /s/ Alan M. Mendelson
----------------------------------
Chief Executive Officer
/s/ Samuel F. McKay
----------------------
Samuel F. McKay
EXHIBITS
A: Joint Filing Statement
EXHIBIT A
AGREEMENT OF JOINT FILING
We, the undersigned, hereby express our agreement that the attached
Schedule 13G is filed on behalf of us.
Date: February 17, 2004
Page 12 of 13 pages
AXIOM VENTURE PARTNERS, L.P. AXIOM VENTURE PARTNERS III, L.P.
By: Axiom Venture Associates, L.P. By: Axiom Venture Associates III, L.P.
------------------------------ ----------------------------------
Its general partner Its general partner
By: /s/ Alan M. Mendelson By: /s/ Axiom Venture Advisors, Inc.
-------------------------- ----------------------------------
General Partner Its general partner
By: /s/ Alan M. Mendelson
------------------------------
Chief Executive Officer
AXIOM VENTURE ASSOCIATES, L.P. AXIOM VENTURE ASSOCIATES III, L.P.
By: /s/ Alan M. Mendelson By: /s/ Axiom Venture Advisors, Inc.
------------------------------- ----------------------------------
General Partner Its general partner
By: /s/ Alan M. Mendelson
----------------------------------
Chief Executive Officer
/s/ Alan M. Mendelson AXIOM VENTURE ADVISORS, INC.
----------------------
Alan M. Mendelson
By: /s/ Alan M. Mendelson
----------------------------------
Chief Executive Officer
/s/ Samuel F. McKay
----------------------
Samuel F. McKay
Page 13 of 13 pages