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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