FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * JAV Management Associates III, L.L.C.   2. Issuer Name and Ticker or Trading Symbol VIRTUSA CORP [VRTU] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner _____ Officer (give title below) __X__ Other (specify below) See Remarks (Last) (First) (Middle) C/O GLOBESPAN CAPITAL MANAGEMENT, LLC, ONE BOSTON PLACE, SUITE 2810 3. Date of Earliest Transaction (Month/Day/Year) 02/19/2008 (Street) BOSTON, MA 02108 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) ___ Form filed by One Reporting Person _X_ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 02/19/2008   J   1,163,036 (1) (6) (9) D $ 0 (6) 0 (1) (6) D   Common Stock 02/19/2008   J   1,061,252 (2) (7) (9) D $ 0 (7) 0 (2) (7) D   Common Stock               513,295 (3) (9) D   Common Stock 02/19/2008   J   126,611 (4) (8) (9) D $ 0 (8) 0 (4) (8) D   Common Stock 02/19/2008   J   23,607 (5) (9) A $ 0 (5) 39,581 (5) (9) D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
JAV Management Associates III, L.L.C. C/O GLOBESPAN CAPITAL MANAGEMENT, LLC ONE BOSTON PLACE, SUITE 2810 BOSTON, MA 02108				See Remarks
JAFCO AMERICA TECHNOLOGY FUND III LP C/O GLOBESPAN CAPITAL MANAGEMENT, LLC ONE BOSTON PLACE, SUITE 2810 BOSTON, MA 02108				See Remarks
JAFCO America Technology Cayman Fund III, L.P. C/O GLOBESPAN CAPITAL MANAGEMENT, LLC ONE BOSTON PLACE, SUITE 2810 BOSTON, MA 02108				See Remarks
JAFCO USIT FUND III L P C/O GLOBESPAN CAPITAL MANAGEMENT, LLC ONE BOSTON PLACE, SUITE 2810 BOSTON, MA 02108				See Remarks
JAFCO AMERICA TECHNOLOGY AFFILIATES FUND III LP C/O GLOBESPAN CAPITAL MANAGEMENT, LLC ONE BOSTON PLACE, SUITE 2810 BOSTON, MA 02108				See Remarks
Goldfarb Andrew P C/O GLOBESPAN CAPITAL MANAGEMENT, LLC ONE BOSTON PLACE, SUITE 2810 BOSTON, MA 02108				See Remarks
SCHIFFMAN BARRY J C/O GLOBESPAN CAPITAL MANAGEMENT, LLC ONE BOSTON PLACE, SUITE 2810 BOSTON, MA 02108				See Remarks

Signatures

/s/ Andrew P. Goldfarb, Managing Member of JAV Management Associates III, L.L.C.		02/21/2008
**Signature of Reporting Person		Date
/s/ Barry. J. Schiffman		02/21/2008
**Signature of Reporting Person		Date
/s/ Andrew P. Goldfarb		02/21/2008
**Signature of Reporting Person		Date
/s/ Andrew P. Goldfarb, Managing Member of JAV Management Associates III, L.L.C.		02/21/2008
**Signature of Reporting Person		Date
/s/ Andrew P. Goldfarb, Managing Member of JAV Management Associates III, L.L.C.		02/21/2008
**Signature of Reporting Person		Date
/s/ Andrew P. Goldfarb, Managing Member of JAV Management Associates III, L.L.C.		02/21/2008
**Signature of Reporting Person		Date
/s/ Andrew P. Goldfarb, Managing Member of JAV Management Associates III, L.L.C.		02/21/2008
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	These securities are owned solely by JAFCO America Technology Fund III, L.P.
(2)	These securities are owned solely by JAFCO America Technology Cayman Fund III, L.P.
(3)	These securities are owned solely by JAFCO USIT Fund III, L.P.
(4)	These securities are owned solely by JAFCO America Technology Affiliates Fund III, L.P.
(5)	These securities are owned solely by JAV Management Associates III, L.L.C., 23,607 of which were received in a distribution made on a pro rata basis for no consideration by JAFCO America Technology Fund III, L.P., JAFCO America Technology Cayman Fund III, L.P. and JAFCO America Technology Affiliates Fund III, L.P. to their general partner and respective limited partners.
(6)	Represents a pro rata distribution for no consideration made by JAFCO America Technology Fund III, L.P. to its general partner and limited partners.
(7)	Represents a pro rata distribution for no consideration made by JAFCO America Technology Cayman Fund III, L.P. to its general partner and limited partners.
(8)	Represents a pro rata distribution for no consideration made by JAFCO America Technology Affiliates Fund III, L.P. to its general partner and limited partners.
(9)	JAV Management Associates III, L.L.C. is the general partner of JAFCO America Technology Fund III, L.P., JAFCO America Technology Cayman Fund III, L.P., JAFCO USIT Fund III, L.P. and JAFCO America Technology Affiliates Fund III, L.P. (the "Globespan Funds") and may be deemed to have a beneficial interest in the shares directly held by the Globespan Funds. The voting and investment power with respect to the shares directly held by the Globespan Funds and the shares directly held by JAV Management Associates III, L.L.C. is vested in Andrew P. Goldfarb and Barry J. Schiffman, the managing members of JAV Management Associates III, L.L.C. JAV Management Associates III, L.L.C., Andrew P. Goldfarb and Barry J. Schiffman each disclaim beneficial ownership of such shares, except to the extent of their pecuniary interest in such shares which is subject to indeterminable future events.
Remarks: The reporting persons are members of a 13(d) group beneficially owning more than 10% of the Issuer's outstanding equity  securities.

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