<TABLE> <S> <C>
 
<ARTICLE>                                                            6
<LEGEND>
THIS SCHEDULE  CONTAINS  SUMMARY  FINANCIAL  INFORMATION  EXTRACTED FROM ML
VENTURE  PARTNERS  II,  L.P.'S  ANNUAL  REPORT ON FORM 10-K FOR THE PERIOD ENDED
DECEMBER  31,  1998  AND IS  QUALIFIED  IN ITS  ENTIRETY  BY  REFERENCE  TO SUCH
FINANCIAL STATEMENTS
</LEGEND>
       
<S>                                                                          <C>
<PERIOD-TYPE>                                                             12-MOS
<FISCAL-YEAR-END>                                                    DEC-31-1998
<PERIOD-START>                                                       JAN-01-1998
<PERIOD-END>                                                         DEC-31-1998
<INVESTMENTS-AT-COST>                                                 10,197,685
<INVESTMENTS-AT-VALUE>                                                14,970,273
<RECEIVABLES>                                                            476,726
<ASSETS-OTHER>                                                                 0
<OTHER-ITEMS-ASSETS>                                                   4,912,129
<TOTAL-ASSETS>                                                        20,359,128
<PAYABLE-FOR-SECURITIES>                                                       0
<SENIOR-LONG-TERM-DEBT>                                                        0
<OTHER-ITEMS-LIABILITIES>                                              4,720,926
<TOTAL-LIABILITIES>                                                    4,720,926
<SENIOR-EQUITY>                                                                0
<PAID-IN-CAPITAL-COMMON>                                                       0
<SHARES-COMMON-STOCK>                                                    120,000
<SHARES-COMMON-PRIOR>                                                    120,000
<ACCUMULATED-NII-CURRENT>                                                      0
<OVERDISTRIBUTION-NII>                                                         0
<ACCUMULATED-NET-GAINS>                                                        0
<OVERDISTRIBUTION-GAINS>                                                       0
<ACCUM-APPREC-OR-DEPREC>                                               4,772,588
<NET-ASSETS>                                                          15,638,202
<DIVIDEND-INCOME>                                                              0
<INTEREST-INCOME>                                                        293,965
<OTHER-INCOME>                                                                 0
<EXPENSES-NET>                                                           446,853
<NET-INVESTMENT-INCOME>                                                (152,888)
<REALIZED-GAINS-CURRENT>                                             (2,166,356)
<APPREC-INCREASE-CURRENT>                                                765,025
<NET-CHANGE-FROM-OPS>                                                (1,554,219)
<EQUALIZATION>                                                                 0
<DISTRIBUTIONS-OF-INCOME>                                                      0
<DISTRIBUTIONS-OF-GAINS>                                                       0
<DISTRIBUTIONS-OTHER>                                                  4,514,772
<NUMBER-OF-SHARES-SOLD>                                                        0
<NUMBER-OF-SHARES-REDEEMED>                                                    0
<SHARES-REINVESTED>                                                            0
<NET-CHANGE-IN-ASSETS>                                               (6,068,991)
<ACCUMULATED-NII-PRIOR>                                                        0
<ACCUMULATED-GAINS-PRIOR>                                                      0
<OVERDISTRIB-NII-PRIOR>                                                        0
<OVERDIST-NET-GAINS-PRIOR>                                                     0
<GROSS-ADVISORY-FEES>                                                          0
<INTEREST-EXPENSE>                                                             0
<GROSS-EXPENSE>                                                                0
<AVERAGE-NET-ASSETS>                                                  18,672,697
<PER-SHARE-NAV-BEGIN>                                                        162
<PER-SHARE-NII>                                                              (1)
<PER-SHARE-GAIN-APPREC>                                                      (9)
<PER-SHARE-DIVIDEND>                                                           0
<PER-SHARE-DISTRIBUTIONS>                                                     35
<RETURNS-OF-CAPITAL>                                                           0
<PER-SHARE-NAV-END>                                                          117
<EXPENSE-RATIO>                                                                0
<AVG-DEBT-OUTSTANDING>                                                         0
<AVG-DEBT-PER-SHARE>                                                           0
        

</TABLE>