SCHEDULE 13G
CUSIP NO. 92532L 20 6                                          PAGE 1 OF 9 PAGES


                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                               (AMENDMENT NO. 1)*


                                Verticalnet, Inc.
                                (Name of Issuer)


                          Common Stock, $.01 par value
                         (Title of Class of Securities)


                                   92532L 20 6
                                 (CUSIP Number)

                                December 31, 2002
             (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)
[X]  Rule 13d-1(c)
[ ]  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
disclosures provided in a prior cover page.

The information required on 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).



SCHEDULE 13G
CUSIP NO. 92532L 20 6                                          PAGE 2 OF 9 PAGES


 -----------------------------------------------------------------------------
    1   NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

                 Alexandra Global Investment Fund I, Ltd.
                 (No I.R.S. ID Number)

-----------------------------------------------------------------------------
    2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  (A)[ ]
                                                          (B)[ ]

-----------------------------------------------------------------------------
    3   SEC USE ONLY

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

                 British Virgin Islands
-----------------------------------------------------------------------------
      NUMBER OF          5  SOLE VOTING POWER
       SHARES
    BENEFICIALLY                     -0-
      OWNED BY         ------------------------------------------------------
        EACH             6  SHARED VOTING POWER
      REPORTING
       PERSON                        -0-
        WITH:          ------------------------------------------------------
                         7  SOLE DISPOSITIVE POWER

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

                                     -0-
-----------------------------------------------------------------------------
    9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                                     -0-
-----------------------------------------------------------------------------
    10      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
            CERTAIN SHARES (SEE INSTRUCTIONS)                         [ ]

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

                                      0%
-----------------------------------------------------------------------------
    12      TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

                 CO
-----------------------------------------------------------------------------




SCHEDULE 13G
CUSIP NO. 92532L 20 6                                          PAGE 3 OF 9 PAGES


-----------------------------------------------------------------------------
    1   NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

                 Alexandra Investment Management, LLC
                 13-4092583
-----------------------------------------------------------------------------
    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          5  SOLE VOTING POWER
       SHARES
    BENEFICIALLY                     -0-
      OWNED BY         ------------------------------------------------------
        EACH             6  SHARED VOTING POWER
      REPORTING
       PERSON                        -0-
        WITH:          ------------------------------------------------------
                         7  SOLE DISPOSITIVE POWER

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

                                     -0-
-----------------------------------------------------------------------------
    9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                                     -0-
-----------------------------------------------------------------------------
    10      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
            CERTAIN SHARES (SEE INSTRUCTIONS)                         [ ]

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

                                      0%
-----------------------------------------------------------------------------
    12      TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

                 OO
-----------------------------------------------------------------------------



SCHEDULE 13G
CUSIP NO. 92532L 20 6                                          PAGE 4 OF 9 PAGES


-----------------------------------------------------------------------------
    1   NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

                 Mikhail A. Filimonov
-----------------------------------------------------------------------------
    2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP          (A)[ ]
                                                                  (B)[ ]

-----------------------------------------------------------------------------
    3   SEC USE ONLY

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

                 U.S.
-----------------------------------------------------------------------------
      NUMBER OF          5  SOLE VOTING POWER
       SHARES
    BENEFICIALLY                     -0-
      OWNED BY         ------------------------------------------------------
        EACH             6  SHARED VOTING POWER
      REPORTING
       PERSON                        -0-
        WITH:          ------------------------------------------------------
                         7  SOLE DISPOSITIVE POWER

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

                                     -0-
-----------------------------------------------------------------------------
    9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                                     -0-
-----------------------------------------------------------------------------
    10      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
            CERTAIN SHARES (SEE INSTRUCTIONS)                         [ ]

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

                                      0%
-----------------------------------------------------------------------------
    12      TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

                 IN
-----------------------------------------------------------------------------



SCHEDULE 13G
CUSIP NO. 92532L 20 6                                          PAGE 5 OF 9 PAGES


-----------------------------------------------------------------------------
    1   NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

                 Dimitri Sogoloff
-----------------------------------------------------------------------------
    2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP  (A)[ ]
                                                          (B)[ ]

-----------------------------------------------------------------------------
    3   SEC USE ONLY

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

                 U.S.
-----------------------------------------------------------------------------
      NUMBER OF          5  SOLE VOTING POWER
       SHARES
    BENEFICIALLY                     -0-
      OWNED BY         ------------------------------------------------------
        EACH             6  SHARED VOTING POWER
      REPORTING
       PERSON                        -0-
        WITH:          ------------------------------------------------------
                         7  SOLE DISPOSITIVE POWER

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

                                     -0-
-----------------------------------------------------------------------------
    9       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                                     -0-
-----------------------------------------------------------------------------
    10      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
            CERTAIN SHARES (SEE INSTRUCTIONS)                         [ ]

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

                                      0%
-----------------------------------------------------------------------------
    12      TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)

                 IN
-----------------------------------------------------------------------------



SCHEDULE 13G
CUSIP NO. 92532L 20 6                                          PAGE 6 OF 9 PAGES


Item 1(a).        Name of Issuer:

                  Verticalnet, Inc.(the "Issuer")

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

                  300 Chester Field Parkway
                  Malvern, Pennsylvania  19355

Item 2(a).        Names of Persons Filing:

                  Alexandra Global Investment Fund I, Ltd. ("Alexandra")
                  Alexandra Investment Management, LLC ("Management")
                  Mikhail A. Filimonov ("Filimonov")
                  Dimitri Sogoloff ("Sogoloff")

Item 2(b).        Address of Principal Business Office:

                  Alexandra - Citco Building, Wickams Cay, P.O. Box 662,
                  Road Town, Tortola, British Virgin Islands
                  Management - 767 Third Avenue, 39th Floor, New York,
                  New York 10017
                  Filimonov - 767 Third Avenue, 39th Floor, New York,
                  New York 10017
                  Sogoloff - 767 Third Avenue, 39th Floor, New York,
                  New York 10017

Item 2(c).        Place of Organization or Citizenship:

                  Alexandra - British Virgin Islands
                  Management - Delaware
                  Filimonov - U.S.
                  Sogoloff - U.S.

Item 2(d).        Title of Class of Securities:

                  Common Stock, $0.01 par value per share of the Issuer (the
                  "Common Stock")

Item 2(e).        CUSIP Number:

                  92532L 20 6

Item 3.           This Schedule is filed pursuant to Rule 13d-1(c) by
                  Alexandra, Management, Filimonov and Sogoloff

Item 4.           Ownership:

                  (a)    Amount Beneficially Owned:

                         Alexandra: 0 shares
                         Management: 0 shares
                         Filimonov: 0 shares
                         Sogoloff: 0 shares

                  (b)    Percent of Class:

                         Alexandra: 0%



SCHEDULE 13G
CUSIP NO. 92532L 20 6                                          PAGE 7 OF 9 PAGES


                         Management: 0%
                         Filimonov: 0%
                         Sogoloff: 0%

                  (c)    Number of Shares as to which the Person has:

                         (i)     sole power to vote or to direct
                                 the vote

                                                -0-

                         (ii)    shared power to vote or to direct the vote:

                                                -0-

                         (iii)   sole power to dispose or to direct the
                                 disposition of

                                                -0-

                         (iv)    shared power to dispose or to direct the
                                 disposition of

                                                -0-


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 each of the Reporting Persons ceased to be the
                  beneficial owner 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:

                  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:



SCHEDULE 13G
CUSIP NO. 92532L 20 6                                          PAGE 8 OF 9 PAGES


By signing below each signatory certifies that, to the best of its knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.


Exhibits:

     Exhibit I: Joint Filing Agreement, dated as of August 2, 2002, by and among
Alexandra, Management, Filimonov and Sogoloff (incorporated herein by reference
to the exhibit with the same number filed with Schedule 13G filed by the persons
reporting on this Amendment No. 1).





SCHEDULE 13G
CUSIP NO. 92532L 20 6                                          PAGE 9 OF 9 PAGES




                                    SIGNATURE

         By signing below each signatory certifies that, to the best of its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.


Date: February 13, 2003


                    ALEXANDRA GLOBAL INVESTMENT FUND I, LTD.

                    By: ALEXANDRA INVESTMENT MANAGEMENT, LLC,
                        Investment Advisor

                        By: /s/ Mikhail A. Filimonov
                        ----------------------------
                        Mikhail A. Filimonov
                        Title: Managing Member



                    ALEXANDRA INVESTMENT MANAGEMENT, LLC

                    By: /s/ Mikhail A. Filimonov
                    ----------------------------
                    Mikhail A. Filimonov
                    Title: Managing Member



                    /s/ Mikhail A. Filimonov
                    ----------------------------
                    Mikhail A. Filimonov



                    /s/ Dimitri Sogoloff
                    ----------------------------
                    Dimitri Sogoloff