SOLAREDGE TECHNOLOGIES, INC. — Major Shareholding Notification 2016

Feb 16, 2016

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

SolarEdge Technologies, Inc. (SEDG)

(Name of Issuer)

Common Stock

(Title of Class of Securities)

83417M104

(CUSIP Number)

December 31, 2015

(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).

13G

CUSIP NO. 83417M104

| 1) | NAME OF
REPORTING PERSON Norwest Venture Partners XI, LP | |
| --- | --- | --- |
| 2) | CHECK THE APPROPRIATE BOX IF A MEMBER
OF A GROUP (a) ¨ (b) ¨ | |
| 3) | SEC USE ONLY | |
| 4) | CITIZENSHIP OR PLACE OF
ORGANIZATION Delaware | |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | (5) | SOLE VOTING POWER 820,626 |
| | (6) | SHARED VOTING POWER 0 |
| | (7) | SOLE DISPOSITIVE POWER 820,626 |
| | (8) | SHARED DISPOSITIVE POWER 0 |
| 9) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 820,626 | |
| 10) | CHECK IF THE AGGREGATE AMOUNT IN ROW
(9) EXCLUDES CERTAIN SHARES | |
| 11) | PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (9) 2.09% | |
| 12) | TYPE OF REPORTING PERSON PN | |

2

13G

CUSIP NO. 83417M104

| 1) | NAME OF
REPORTING PERSON Genesis VC Partners XI, LLC | |
| --- | --- | --- |
| 2) | CHECK THE APPROPRIATE BOX IF A MEMBER
OF A GROUP (a) ¨ (b) ¨ | |
| 3) | SEC USE ONLY | |
| 4) | CITIZENSHIP OR PLACE OF
ORGANIZATION Delaware | |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | (5) | SOLE VOTING POWER 820,626 |
| | (6) | SHARED VOTING POWER 0 |
| | (7) | SOLE DISPOSITIVE POWER 820,626 |
| | (8) | SHARED DISPOSITIVE POWER 0 |
| 9) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 820,626 | |
| 10) | CHECK IF THE AGGREGATE AMOUNT IN ROW
(9) EXCLUDES CERTAIN SHARES | |
| 11) | PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (9) 2.09% | |
| 12) | TYPE OF REPORTING PERSON PN | |

3

13G

CUSIP NO. 83417M104

| 1) | NAME OF
REPORTING PERSON NVP Associates, LLC | |
| --- | --- | --- |
| 2) | CHECK THE APPROPRIATE BOX IF A MEMBER
OF A GROUP (a) ¨ (b) ¨ | |
| 3) | SEC USE ONLY | |
| 4) | CITIZENSHIP OR PLACE OF
ORGANIZATION Delaware | |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | (5) | SOLE VOTING POWER 820,626 |
| | (6) | SHARED VOTING POWER 0 |
| | (7) | SOLE DISPOSITIVE POWER 820,626 |
| | (8) | SHARED DISPOSITIVE POWER 0 |
| 9) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 820,626 | |
| 10) | CHECK IF THE AGGREGATE AMOUNT IN ROW
(9) EXCLUDES CERTAIN SHARES | |
| 11) | PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (9) 2.09% | |
| 12) | TYPE OF REPORTING PERSON PN | |

4

13G

CUSIP NO. 83417M104

| 1) | NAME OF
REPORTING PERSON Promod Haque | |
| --- | --- | --- |
| 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 of America | |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | (5) | SOLE VOTING POWER 820,626 |
| | (6) | SHARED VOTING POWER 0 |
| | (7) | SOLE DISPOSITIVE POWER 820,626 |
| | (8) | SHARED DISPOSITIVE POWER 0 |
| 9) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 820,626 | |
| 10) | CHECK IF THE AGGREGATE AMOUNT IN ROW
(9) EXCLUDES CERTAIN SHARES | |
| 11) | PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (9) 2.09% | |
| 12) | TYPE OF REPORTING PERSON IN | |

5

13G

CUSIP NO. 83417M104

| 1) | NAME OF
REPORTING PERSON Jeffrey Crowe | |
| --- | --- | --- |
| 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 of America | |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | (5) | SOLE VOTING POWER 820,626 |
| | (6) | SHARED VOTING POWER 0 |
| | (7) | SOLE DISPOSITIVE POWER 820,626 |
| | (8) | SHARED DISPOSITIVE POWER 0 |
| 9) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 820,626 | |
| 10) | CHECK IF THE AGGREGATE AMOUNT IN ROW
(9) EXCLUDES CERTAIN SHARES | |
| 11) | PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (9) 2.09% | |
| 12) | TYPE OF REPORTING PERSON IN | |

6

13G

CUSIP NO. 83417M104

| 1) | NAME OF
REPORTING PERSON Matthew D. Howard | |
| --- | --- | --- |
| 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 of America | |
| NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH | (5) | SOLE VOTING POWER 820,626 |
| | (6) | SHARED VOTING POWER 0 |
| | (7) | SOLE DISPOSITIVE POWER 820,626 |
| | (8) | SHARED DISPOSITIVE POWER 0 |
| 9) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 820,626 | |
| 10) | CHECK IF THE AGGREGATE AMOUNT IN ROW
(9) EXCLUDES CERTAIN SHARES | |
| 11) | PERCENT OF CLASS REPRESENTED BY AMOUNT
IN ROW (9) 2.09% | |
| 12) | TYPE OF REPORTING PERSON IN | |

7

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

Item 1(a) Name of Issuer:

SolareEdge Technologies, Inc. (SEDG)

Item 1(b) Address of Issuer’s Principal Executive Offices:

1 Hamada Street

Herziliya, Pituach 4673335

Item 2(a) Name of Person Filing:

1. Norwest Venture Partners XI, LP

2. Genesis VC Partners XI, LLC

3. NVP Associates, LLC

4. Promod Haque

5. Jeffrey Crowe

6. Matthew D. Howard

Item 2(b) Address of Principal Business Office or, if None, Residence:

1. Norwest Venture Partners XI, LP

525 University Ave, Suite 800

Palo Alto, CA 94301

1. Genesis VC Partners XI, LLC

525 University Ave, Suite 800

Palo Alto, CA 94301

1. NVP Associates, LLC

525 University Ave, Suite 800

Palo Alto, CA 94301

1. Promod Haque

525 University Ave, Suite 800

Palo Alto, CA 94301

1. Jeffrey Crowe

525 University Ave, Suite 800

Palo Alto, CA 94301

1. Matthew D. Howard

525 University Ave, Suite 800

Palo Alto, CA 94301

This statement is filed by Norwest Venture Partners XI, LP on behalf of all of the persons listed above pursuant to Rule 13d-1(d) and Rule 13d-1(k). Norwest Venture Partners XI, LP is a Delaware limited partnership, whose general partner is Genesis VC Partners XI, LLC. NVP Associates, LLC is the managing member of Genesis VC Partners XI, LLC. Promod Haque, Jeffrey Crowe and Matthew D. Howard are co-Chief Executive Officers of NVP Associates, LLC.

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Item 2(c) Citizenship:

1. Norwest Venture Partners XI, LP: Delaware

2. Genesis VC Partners XI, LLC: Delaware

3. NVP Associates, LLC: Delaware

4. Promod Haque: United States of America

5. Jeffrey Crowe: United States of America

6. Matthew D. Howard: United States of America

Item 2(d) Title of Class of Securities:

Common Stock

Item 2(e) CUSIP Number:

52603A109

Item 3 Not Applicable

Item 4 Ownership:

(1) Norwest Venture Partners XI, LP (“NVP XI”): At December 31, 2015, NVP XI owned of record 820,626 shares of Issuer’s common stock (“Common Stock”). This amount represents 2.09% of the total shares of Common Stock outstanding at this date.

(2) Genesis VC Partners XI, LLC (“Genesis XI”): At December 31, 2015, Genesis XI may be deemed to have beneficially owned, by virtue of its status as general partner of NVP XI, 820,626 shares of Common Stock. This amount represents 2.09% of the total shares of Common Stock outstanding at this date.

(3) NVP Associates, LLC (“NVP Associates”): At December 31, 2015, NVP Associates may be deemed to have beneficially owned 820,626 shares of Common Stock by virtue of its status as managing member of Genesis XI, the general partner of NVP XI, the record owner of such shares. This amount represents 2.09% of the total shares of Common Stock outstanding at this date.

(4) Promod Haque: At December 31, 2015, Promod Haque may be deemed to have beneficially owned 820,626 shares of Common Stock by virtue of his status as co-Chief Executive Officer of NVP Associates, the managing member of Genesis XI, which is the general partner of NVP XI, the record owner of such shares. This amount represents 2.09% of the total shares of Common Stock outstanding at this date.

(5) Jeffrey Crowe: At December 31, 2015, Jeffrey Crowe may be deemed to have beneficially owned 820,626 shares of Common Stock by virtue of his status as co-Chief Executive Officer of NVP Associates, the managing member of Genesis XI, which is the general partner of NVP XI, the record owner of such shares. This amount represents 2.09% of the total shares of Common Stock outstanding at this date.

(6) Matthew D. Howard: At December 31, 2015, Matthew D. Howard may be deemed to have beneficially owned 820,626 shares of Common Stock by virtue of his status as co-Chief Executive Officer of NVP Associates, the managing member of Genesis XI, which is the general partner of NVP XI, the record owner of such shares. This amount represents 2.09% of the total shares of Common Stock outstanding at this date.

9

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 persons have ceased to be beneficial owners of more than five percent of the class of securities, check the following x .

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 or Control Person:

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

10

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 16, 2016

NORWEST VENTURE PARTNERS XI, LP
By	Genesis VC Partners XI, LLC, as general partner
By	NVP Associates, LLC, as managing member
By:	/s/ Kurt Betcher
	Kurt Betcher, Chief Financial Officer

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AGREEMENT

The undersigned hereby agree that this Schedule 13G to which this Agreement is attached shall be filed by Norwest Venture Partners XI, LP on its own behalf and on behalf of (a) Genesis VC Partners XI, LLC, a Delaware limited liability company, (b) NVP Associates, LLC, a Delaware limited liability company, (c) Promod Haque, (d) Jeffrey Crowe and (e) Matthew D. Howard.

Dated: February 16, 2016

Norwest Venture Partners XI, LP
By	Genesis VC Partners XI, LLC, as general partner
By	NVP Associates, LLC, as managing member
By:	/s/ Kurt Betcher
	Kurt Betcher, Chief Financial Officer
Genesis VC Partners XI, LLC
By	NVP Associates, LLC, as managing member
By:	/s/ Kurt Betcher
	Kurt Betcher, Chief Financial Officer
NVP Associates, LLC
By:	/s/ Kurt Betcher
	Kurt Betcher, Chief Financial Officer
	/s/ Kurt Betcher
	Kurt Betcher, as Attorney-in-fact for Promod Haque
	/s/ Kurt Betcher
	Kurt Betcher, as Attorney-in-fact for Jeffrey Crowe
	/s/ Kurt Betcher
	Kurt Betcher, as Attorney-in-fact for Matthew D. Howard

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