--------------------------
                                                              OMB APPROVAL
                                                      --------------------------
                                                      OMB Number:      3235-0145
                                                      Expires: December 31, 2005
                                                      Estimated average burden
                                                      hours per response......11
                                                      --------------------------

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                  ------------

                                 SCHEDULE 13G/A

           INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
              RULES 13d-1 (b), (c) AND (d) AND AMENDMENTS THERETO
                           FILED PURSUANT TO 13d-2 (b)
                               (Amendment No. 2)*

                                PIXELWORKS, INC.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                                  COMMON STOCK
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   72581M107
--------------------------------------------------------------------------------
                                 (CUSIP Number)

                                    12/31/02
--------------------------------------------------------------------------------
             (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)


                               Page 1 of 12 Pages


CUSIP No. 72581M107                                           Page 2 of 12 Pages
--------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      SEQUOIA CAPITAL VII, A CALIFORNIA LIMITED PARTNERSHIP ("SC VII")
      94-3240153
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                        (a)  |_|
                                                                        (b)  |X|
--------------------------------------------------------------------------------
3     SEC USE ONLY

--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION

      CALIFORNIA
--------------------------------------------------------------------------------
                  5     SOLE VOTING POWER

                        0
                        --------------------------------------------------------
  NUMBER OF       6     SHARED VOTING POWER
   SHARES
BENEFICIALLY            2,216,678
  OWNED BY              --------------------------------------------------------
    EACH          7     SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH                --------------------------------------------------------
                  8     SHARED DISPOSITIVE POWER

                        2,216,678
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      2,216,678
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

      |_|
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

      5.1%
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON*

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



CUSIP No. 72581M107                                           Page 3 of 12 Pages
--------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      SEQUOIA TECHNOLOGY PARTNERS VII, A CALIFORNIA LIMITED PARTNERSHIP
      ("STP VII") 77-0428059
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                        (a)  |_|
                                                                        (b)  |X|
--------------------------------------------------------------------------------
3     SEC USE ONLY

--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION

      CALIFORNIA
--------------------------------------------------------------------------------
                  5     SOLE VOTING POWER

                        0
                        --------------------------------------------------------
  NUMBER OF       6     SHARED VOTING POWER
   SHARES
BENEFICIALLY            98,544
  OWNED BY              --------------------------------------------------------
    EACH          7     SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH                --------------------------------------------------------
                  8     SHARED DISPOSITIVE POWER

                        98,544
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      98,544
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

      |_|
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

      0.2%
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON*

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



CUSIP No. 72581M107                                           Page 4 of 12 Pages
--------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      SEQUOIA INTERNATIONAL PARTNERS, A CALIFORNIA LIMITED PARTNERSHIP ("SIP")
      94-3260980
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                        (a)  |_|
                                                                        (b)  |X|
--------------------------------------------------------------------------------
3     SEC USE ONLY

--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION

      CALIFORNIA
--------------------------------------------------------------------------------
                  5     SOLE VOTING POWER

                        0
                        --------------------------------------------------------
  NUMBER OF       6     SHARED VOTING POWER
   SHARES
BENEFICIALLY            33,418
  OWNED BY              --------------------------------------------------------
    EACH          7     SOLE DISPOSITIVE POWER
  REPORTING
   PERSON               0
    WITH                --------------------------------------------------------
                  8     SHARED DISPOSITIVE POWER

                        33,418
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      33,418
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

      |_|
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

      0.1%
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON*

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



CUSIP No. 72581M107                                           Page 5 of 12 Pages
--------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      SC VII MANAGEMENT-A, LLC ("SC VII-A")
      94-3240154
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                        (a)  |_|
                                                                        (b)  |X|
--------------------------------------------------------------------------------
3     SEC USE ONLY

--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION

      CALIFORNIA
--------------------------------------------------------------------------------
                  5     SOLE VOTING POWER
  NUMBER OF
   SHARES               0
BENEFICIALLY            --------------------------------------------------------
  OWNED BY        6     SHARED VOTING POWER
    EACH
  REPORTING             2,348,640  shares of which 2,216,678 shares are directly
   PERSON               held by SC VII,  98,544  shares are directly held by STP
    WITH                VII and 33,418 shares are directly held by SIP. SC VII-A
                        is the General Partner of SC VII, STP VII and SIP.
                        --------------------------------------------------------
                  7     SOLE DISPOSITIVE POWER

                        0
                        --------------------------------------------------------
                  8     SHARED DISPOSITIVE POWER

                        2,348,640  shares of which 2,216,678 shares are directly
                        held by SC VII,  98,544  shares are directly held by STP
                        VII and 33,418 shares are directly held by SIP. SC VII-A
                        is the General Partner of SC VII, STP VII and SIP.
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      2,348,640
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

      |_|
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

      5.4%
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON*

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


CUSIP No. 72581M107                                           Page 6 of 12 Pages
--------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      MICHAEL MORITZ
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                        (a)  |_|
                                                                        (b)  |X|
--------------------------------------------------------------------------------
3     SEC USE ONLY

--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION

      USA
--------------------------------------------------------------------------------
                  5     SOLE VOTING POWER
  NUMBER OF
   SHARES               175,455
BENEFICIALLY            --------------------------------------------------------
  OWNED BY        6     SHARED VOTING POWER
    EACH
  REPORTING             2,348,640  shares of which 2,216,678 shares are directly
   PERSON               held by SC VII,  98,544  shares are directly held by STP
    WITH                VII and 33,418  shares  are  directly  held by SIP.  Mr.
                        Moritz is a  Managing  Member of SC  VII-A.  Mr.  Moritz
                        disclaims beneficial ownership of all such shares except
                        to the  extent  of  his  individual  pecuniary  interest
                        therein.
                        --------------------------------------------------------
                  7     SOLE DISPOSITIVE POWER

                        175,455
                        --------------------------------------------------------
                  8     SHARED DISPOSITIVE POWER

                        2,348,640  shares of which 2,216,678 shares are directly
                        held by SC VII,  98,544  shares are directly held by STP
                        VII and 33,418  shares  are  directly  held by SIP.  Mr.
                        Moritz is a  Managing  Member of SC  VII-A.  Mr.  Moritz
                        disclaims beneficial ownership of all such shares except
                        to the  extent  of  his  individual  pecuniary  interest
                        therein.
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      2,524,095
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

      |_|
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

      5.8%
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON*

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



CUSIP No. 72581M107                                           Page 7 of 12 Pages
--------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      DOUGLAS LEONE
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                        (a)  |_|
                                                                        (b)  |X|
--------------------------------------------------------------------------------
3     SEC USE ONLY

--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION

      USA
--------------------------------------------------------------------------------
                  5     SOLE VOTING POWER
  NUMBER OF
   SHARES               121,170
BENEFICIALLY            --------------------------------------------------------
  OWNED BY        6     SHARED VOTING POWER
    EACH
  REPORTING             2,348,640  shares of which 2,216,678 shares are directly
   PERSON               held by SC VII,  98,544  shares are directly held by STP
    WITH                VII and 33,418  shares  are  directly  held by SIP.  Mr.
                        Leone  is a  Managing  Member  of SC  VII-A.  Mr.  Leone
                        disclaims beneficial ownership of all such shares except
                        to the  extent  of  his  individual  pecuniary  interest
                        therein.
                        --------------------------------------------------------
                  7     SOLE DISPOSITIVE POWER

                        121,170
                        --------------------------------------------------------
                  8     SHARED DISPOSITIVE POWER

                        2,348,640  shares of which 2,216,678 shares are directly
                        held by SC VII,  98,544  shares are directly held by STP
                        VII and 33,418  shares  are  directly  held by SIP.  Mr.
                        Leone  is a  Managing  Member  of SC  VII-A.  Mr.  Leone
                        disclaims beneficial ownership of all such shares except
                        to the  extent  of  his  individual  pecuniary  interest
                        therein.
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      2,469,810
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

      |_|
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

      5.6%
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON*

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


CUSIP No. 72581M107                                           Page 8 of 12 Pages
--------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      MARK STEVENS
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                        (a)  |_|
                                                                        (b)  |X|
--------------------------------------------------------------------------------
3     SEC USE ONLY

--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION

      USA
--------------------------------------------------------------------------------
                  5     SOLE VOTING POWER
  NUMBER OF
   SHARES               168,022  shares of which 18,333 shares are issuable upon
BENEFICIALLY            the  exercise of options  exercisable  within 60 days of
  OWNED BY              December 31, 2002.
    EACH                --------------------------------------------------------
  REPORTING       6     SHARED VOTING POWER
   PERSON
    WITH                2,348,640  shares of which 2,216,678 shares are directly
                        held by SC VII,  98,544  shares are directly held by STP
                        VII and 33,418  shares  are  directly  held by SIP.  Mr.
                        Stevens is a Managing  Member of SC VII-A.  Mr.  Stevens
                        disclaims beneficial ownership of all such shares except
                        to the  extent  of  his  individual  pecuniary  interest
                        therein.
                        --------------------------------------------------------
                  7     SOLE DISPOSITIVE POWER

                        168,022  shares of which 18,333 shares are issuable upon
                        the  exercise of options  exercisable  within 60 days of
                        December 31, 2002.
                        --------------------------------------------------------
                  8     SHARED DISPOSITIVE POWER

                        2,348,640  shares of which 2,216,678 shares are directly
                        held by SC VII,  98,544  shares are directly held by STP
                        VII and 33,418  shares  are  directly  held by SIP.  Mr.
                        Stevens is a Managing  Member of SC VII-A.  Mr.  Stevens
                        disclaims beneficial ownership of all such shares except
                        to the  extent  of  his  individual  pecuniary  interest
                        therein.
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      2,516,662
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

      |_|
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

      5.7%
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON*

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




CUSIP No. 72581M107                                           Page 9 of 12 Pages
--------------------------------------------------------------------------------
1     NAMES OF REPORTING PERSONS
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

      THOMAS F. STEPHENSON
--------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                        (a)  |_|
                                                                        (b)  |X|
--------------------------------------------------------------------------------
3     SEC USE ONLY

--------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION

      USA
--------------------------------------------------------------------------------
                  5     SOLE VOTING POWER
  NUMBER OF
   SHARES               108,705
BENEFICIALLY            --------------------------------------------------------
  OWNED BY        6     SHARED VOTING POWER
    EACH
  REPORTING             2,348,640  shares of which 2,216,678 shares are directly
   PERSON               held by SC VII,  98,544  shares are directly held by STP
    WITH                VII and 33,418  shares  are  directly  held by SIP.  Mr.
                        Stephenson  is  a  Managing  Member  of  SC  VII-A.  Mr.
                        Stephenson  disclaims  beneficial  ownership of all such
                        shares except to the extent of his individual  pecuniary
                        interest therein.
                        --------------------------------------------------------
                  7     SOLE DISPOSITIVE POWER

                        108,705
                        --------------------------------------------------------
                  8     SHARED DISPOSITIVE POWER

                        2,348,640  shares of which 2,216,678 shares are directly
                        held by SC VII,  98,544  shares are directly held by STP
                        VII and 33,418  shares  are  directly  held by SIP.  Mr.
                        Stephenson  is  a  Managing  Member  of  SC  VII-A.  Mr.
                        Stephenson  disclaims  beneficial  ownership of all such
                        shares except to the extent of his individual  pecuniary
                        interest therein.
--------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

      2,457,345
--------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

      |_|
--------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

      5.6%
--------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON*

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



CUSIP No. 72581M107                                          Page 10 of 12 Pages
--------------------------------------------------------------------------------

ITEM 1.



         (a) Name of Issuer:  Pixelworks, Inc.

         (b) Address of Issuer's  Principal  Executive  Offices:
                              8100 SW Nyberg Road
                              Tualatin, Oregon 97062


ITEM 2.

         (a) Name of Persons Filing:
                              Sequoia Capital VII, A California  Limited
                              Partnership
                              Sequoia Technology Partners VII, A California
                              Limited Partnership
                              Sequoia International Partners, A California
                              Limited Partnership
                              SC VII Management-A, LLC
                              Michael Moritz ("MM")
                              Douglas Leone ("DL")
                              Mark Stevens ("MS")
                              Thomas F. Stephenson ("TFS")


                           SCVII-A is the General Partner of SC VII, STP VII and
                           SIP. MM, DL, MS, and TFS are  Managing  Members of SC
                           VII-A.

         (b) Address of Principal Business Office or, if none,  Residence:
                              3000 Sand Hill Road, 4-180
                              Menlo Park, CA 94025

         (c)  Citizenship:    MM, DL, MS, TFS: USA SC VII-A, SC VII, STP VII,
                              SIP: California

         (d) Title of Class of Securities: Common

         (e) CUSIP Number:                 72581M107


ITEM 3. If this  statement  is filed  pursuant to Rules  13d-1(b),  or 13d-2(b),
        check whether the person filing is a:


                                 NOT APPLICABLE

ITEM 4. Ownership

                      SEE ROWS 5 THROUGH 11 OF COVER PAGES






CUSIP No. 72581M107                                          Page 11 of 12 Pages
--------------------------------------------------------------------------------


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. [ ]

                           Instruction.   Dissolution  of  a  group  requires  a
                  response to this item. .

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

ITEM 9. NOTICE OF DISSOLUTION OF GROUP


                                 NOT APPLICABLE

ITEM 10. CERTIFICATION


                                 NOT APPLICABLE





CUSIP No. 72581M107                                          Page 12 of 12 Pages
--------------------------------------------------------------------------------


                                    SIGNATURE


         After reasonable  inquiry and to the best of my knowledge and belief, I
certify that the information  set forth in this statement is true,  complete and
correct.





Dated:  February 3, 2003

Sequoia Capital VII, A California Limited Partnership
Sequoia Technology Partners VII, A California Limited Partnership
Sequoia International Partners, A California Limited Partnership

By:    SC VII Management-A, LLC
       A California Limited Liability Company
       General Partner of Each

By:  Managing Members

-------------------------------
Michael Moritz

-------------------------------
Douglas Leone

-------------------------------
Mark Stevens

-------------------------------
Thomas F. Stephenson