<PAGE>
                             UNITED STATES
                  SECURITIES AND EXCHANGE COMMISSION
                         Washington, D.C.  20549

                              FORM 10-Q

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934

            For the quarterly period ended June 30, 2000

                                 OR

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
     SECURITIES EXCHANGE ACT OF 1934

            For the transition period from N/A to N/A
                                           ---    ---

                      Commission File No. 0-15766

                TECHNOLOGY FUNDING SECURED INVESTORS I
             ----------------------------------------------------
            (Exact name of Registrant as specified in its charter)

          CALIFORNIA                            94-2944800
 ------------------------------     ----------------------------------
(State or other jurisdiction of    (I.R.S. Employer Identification No.)
incorporation or organization)

2000 Alameda de las Pulgas, Suite 250
San Mateo, California                                            94403
---------------------------------------                       --------
(Address of principal executive offices)                     (Zip Code)

                              (650) 345-2200
             --------------------------------------------------
            (Registrant's telephone number, including area code

Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period
that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.    Yes X No
                                                                ---  ---

No active market for the units of limited partnership interests
("Units") exists, and therefore the market value of such Units cannot be
determined.

<PAGE>
I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

BALANCE SHEETS
--------------
<TABLE>
<CAPTION>
                                             (unaudited)
                                               June 30,       December 31,
                                                 2000             1999
                                            -------------     ------------
<S>                                          <C>                <C>
ASSETS

Investments:
 Secured notes receivable, net (cost
  basis of $360,839 in both
  2000 and 1999)                              $1,448,839         1,448,839
 Equity investments (cost basis
  of $166,729 in both 2000 and 1999)                   0                 0
                                               ---------         ---------
   Total investments                           1,448,839         1,448,839

Cash and cash equivalents                          8,240             7,861
Other assets                                       1,856                --
                                               ---------         ---------
   Total assets                               $1,458,935         1,456,700
                                               =========         =========

LIABILITIES AND PARTNERS' CAPITAL

Accounts payable and accrued expenses         $   11,540            26,096
Due to related parties                           524,158           380,396
Other liabilities                                    647               647
                                               ---------         ---------
   Total liabilities                             536,345           407,139

Commitments and contingencies
 (Notes 2, 3 and 4)

Partners' capital:
 Limited Partners
  (106,990 Units outstanding)                     59,199           184,901
 General Partners                                (57,880)          (56,611)
 Net unrealized fair value increase
  (decrease) from cost:
   Secured notes receivable                    1,088,000         1,088,000
   Equity investments                           (166,729)         (166,729)
                                               ---------         ---------
   Total partners' capital                       922,590         1,049,561
                                               ---------         ---------
   Total liabilities and partners' capital    $1,458,935         1,456,700
                                               =========         =========
</TABLE>

See accompanying notes to unaudited financial statements

<PAGE>
STATEMENTS OF OPERATIONS (unaudited)
-----------------------------------

<TABLE>
<CAPTION>
                                                 For the Three                   For the Six
                                                 Months Ended                    Months Ended
                                                   June 30,                        June 30,
                                        -----------------------------     -------------------------
                                               2000        1999              2000            1999
                                               ----        ----              ----            ----
<S>                                      <C>            <C>             <C>               <C>
Income:
 Short-term investment interest             $      8           6                15             674
                                              ------     -------           -------         -------
  Total income                                     8           6                15             674

Costs and expenses:
 Management fees                               4,923       8,223            10,170          17,028
 Operating expenses:
  Administrative and investor services        39,808      99,770            78,066         170,391
  Investment operations                       (2,711)      9,420             3,525          19,327
  Professional fees                            7,311       7,599             5,995          19,652
  Computer services                           12,952      16,447            29,230          31,871
                                             -------     -------           -------         -------
  Total operating expenses                    57,360     133,236           116,816         241,241
                                              ------     -------           -------         -------
  Total costs and expenses                    62,283     141,459           126,986         258,269
                                              ------     -------           -------         -------
Net realized loss                            (62,275)   (141,453)         (126,971)       (257,595)
                                              ------     -------           -------         -------
Net loss                                    $(62,275)   (141,453)         (126,971)       (257,595)
                                              ======     =======           =======         =======
Net realized loss per Unit                  $   (.57)      (1.31)            (1.17)          (2.38)
                                              ======     =======           =======         =======
</TABLE>

See accompanying notes to unaudited financial statements.

<PAGE>
STATEMENTS OF CASH FLOWS (unaudited)
-----------------------------------

<TABLE>
<CAPTION>

                                        For the Six Months Ended June 30,
                                        ---------------------------------
                                             2000              1999
                                           --------          --------
<S>                                        <C>               <C>
Cash flows from operating activities:
 Interest received                          $    15              674
 Cash paid to vendors                       (56,821)        (106,187)
 Cash advanced by (paid to) related
  parties                                    57,185         (257,829)
                                             ------          -------
  Net cash provided (used) by operating
   activities                                   379         (363,342)
                                             ------          -------
Cash flows from investing activities:
 Repayments of secured notes receivable          --          364,385
                                             ------          -------
  Net cash provided by investing
   activities                                    --          364,385
                                             ------          -------
Net increase in cash
 and cash equivalents                           379            1,043

Cash and cash equivalents at beginning
 of year                                      7,861            7,020
                                             ------          -------
Cash and cash equivalents
 at June 30                                 $ 8,240            8,063
                                             ======          =======

</TABLE>

See accompanying notes to financial statements.


<PAGE>

STATEMENTS OF CASH FLOWS (unaudited) (continued)
-----------------------------------------------

<TABLE>
<CAPTION>

                                      For the Six Months Ended June 30,
                                      ------------------------------------
                                             2000              1999
                                           --------          --------

<S>                                      <C>                 <C>
Reconciliation of net loss
 to net cash provided (used) by
 operating activities:

Net loss                                 $(126,971)          (257,595)

Changes in:
  Accounts payable and accrued
   expenses                                (14,556)           (15,988)
  Due to related parties                   143,762            (89,089)
  Other                                     (1,856)              (670)
                                           -------            -------
Net cash provided (used) by
 operating activities                    $     379           (363,342)
                                           =======            =======

</TABLE>

See accompanying notes to unaudited financial statements.

<PAGE>
NOTES TO FINANCIAL STATEMENTS (unaudited)
----------------------------------------

1.     General
       -------

In the opinion of the Managing General Partner, the accompanying interim
financial statements reflect all adjustments necessary for a fair
presentation of the financial position, results of operations, and cash
flows for the interim periods presented.  These statements should be read
in conjunction with the Annual Report on Form 10-K for the year ended
December 31, 1999.  Allocation of income and loss to Limited and General
Partners is based on cumulative income and loss.  Adjustments, if any, are
reflected in the current quarter balances.

2.     Financing of Partnership Operations
       -----------------------------------

The General Partners have made loans to the Partnership to finance its
recurring losses from on-going operations.  The Partnership has very
limited cash resources and primarily illiquid assets.  The General Partners
are under no obligation to continue the financing of the Partnership's
daily operations and may elect to discontinue such support at any time
during the remaining life of the Partnership.

3.     Fair Value of Investments
       -------------------------

The Partnership's investments are valued at fair value as determined in
good faith by the Managing General Partner in the absence of readily
available market quotations.  At this stage of the Partnership's life, the
holdings in the Partnership's portfolio are limited to troubled companies
for which any estimate of fair value is highly subjective.  The estimates
made by the Managing General Partner give consideration to each company's
current operating activities, underlying financial condition, prospects for
liquidation events, and other factors.  The estimated fair value of
$1,448,839 at June 30, 2000 may differ significantly from a value that
would have been used had the ultimate realization of the investments been
known.

In August 2000, the General Partners engaged an independent third party to
appraise the Partnership's three remaining portfolio companies.  It is
possible that the resulting appraised values will differ significantly from
the investment fair values reported in these financial statements.  Any
adjustments based on the independent third party appraisal will be recorded
in the period the appraisal is received.


4.     Related Party Transactions
       --------------------------

Related party costs are included in costs and expenses shown on the
Statements of Operations.  Related party costs for the six months ended
June 30, 2000 and 1999, were as follows:

<TABLE>
                                                 2000        1999
                                                ------      ------
<S>                                           <C>          <C>
Management fees                               $ 10,170      17,028
Reimbursable operating expenses                 76,407     151,712
</TABLE>

Certain reimbursable expenses have been allocated and accrued based upon
interim estimates prepared by the Managing General Partner and are adjusted
to actual costs periodically.  At June 30, 2000 and December 31, 1999, due
to related parties for such expenses were $476,686 and $343,094,
respectively.

At June 30, 2000 and December 31, 1999, management fees payable were
$41,503 and $31,333, respectively, and due to affiliated partnerships for
reparticipated secured notes receivable were $5,969.

5.     Secured Notes Receivable, Net
       -----------------------------

A complete listing of the Partnership's secured notes receivable at
December 31, 1999, is included in the 1999 Annual Report on Form 10-K.
There was no investment activity from January 1 through June 30, 2000.

6.     Equity Investments
       ------------------

A complete listing of the Partnership's equity investments at December 31,
1999, is included in the 1999 Annual Report on Form 10-K.  There was no
investment activity from January 1 through June 30, 2000.

7.     Cash and Cash Equivalents
       -------------------------

At June 30, 2000, and December 31, 1999, cash and cash equivalents
consisted of:

<TABLE>
<CAPTION>

                                                2000            1999
                                              --------        --------
<S>                                           <C>            <C>

Demand and brokerage accounts                 $7,710            7,078
Money market accounts                            530              783
                                               -----            -----
     Total                                    $8,240            7,861
                                               =====            =====

</TABLE>


Item 2.   Management's Discussion and Analysis of Financial Condition
          and Results of Operations

Liquidity and Capital Resources
-------------------------------

During the six months ended June 30, 2000, net cash provided by operating
activities totaled $379.  The Partnership received advances from the
Managing General Partners totaling $57,185 to fund its operations.  Other
operating expenses of $56,821 were paid and interest income of $15 was
received.

Cash and cash equivalents at June 30, 2000, were $8,240.  The General
Partners have made loans to the Partnership to finance its recurring losses
from on-going operations.  The Partnership has very limited cash resources
and primarily illiquid assets.  The General Partners are under no
obligation to continue financing the Partnership's daily operations and may
elect to discontinue such support at any time during the remaining life of
the Partnership.

The Partnership's investments are valued at fair value as determined in
good faith by the Managing General Partner in the absence of readily
available market quotations.  At this stage of the Partnership's life, the
holdings in the Partnership's portfolio are limited to troubled companies
for which any estimate of fair value is highly subjective.  The estimates
made by the Managing General Partner give consideration to each company's
current operating activities, underlying financial condition, prospects for
liquidation events, and other factors.  The estimated fair value of
$1,448,839 at June 30, 2000 may differ significantly from a value that
would have been used had the ultimate realization of the investments been
known.

In August 2000, the General Partners engaged an independent third party to
appraise the Partnership's three remaining portfolio companies.  It is
possible that the resulting appraised values will differ significantly from
the investment fair values reported in these financial statements.  Any
adjustments based on the independent third party appraisal will be recorded
in the period the appraisal is received.

Results of Operations
---------------------

    Current quarter compared to corresponding quarter in the preceding year
    -----------------------------------------------------------------------

Net losses were $62,275 and $141,453 for the quarters ended June 30, 2000
and 1999, respectively.  The decrease in net loss in the current period was
primarily due to a $75,876 decrease in total operating expenses.

Total operating expenses were $57,360 and $133,236 for the quarters ended
June 30, 2000 and 1999, respectively.  The decrease is primarily
attributable to decreased investment monitoring activity and related
administrative costs.

Given the inherent risk associated with the business of the Partnership,
the future performance of the portfolio company investments may
significantly impact future operations.

    Current six months compared to corresponding six months in the
    ---------------------------------------------------------------
    preceding year
    --------------

Net losses for the six months ended June 30, 2000 and 1999, were $126,971
and $257,595, respectively.  The decrease in net loss was primarily
attributable to a $124,425 decrease in operating expenses.

Total operating expenses were $116,816 and $241,241 for the six months
ended June 30, 2000 and 1999, respectively.  The decrease is primarily
attributable to decreased investment monitoring activity and related
administrative and professional costs.

II.  OTHER INFORMATION

Item 6.   Exhibits and Reports on Form 8-K

(a)  No reports on Form 8-K were filed by the Partnership during the
quarter ended June 30, 2000.

(b)  Financial Data Schedule for the six months ended and as of June 30,
2000 (Exhibit 27).


<PAGE>




                              SIGNATURES
                              ----------

Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this Report to be
signed on its behalf by the undersigned, thereunto duly authorized.

                         TECHNOLOGY FUNDING SECURED INVESTORS I

                         By:  TECHNOLOGY FUNDING INC.
                              Managing General Partner





Date:  August 14, 2000     By:    /s/Charles R. Kokesh
                           -----------------------------------
                                     Charles R. Kokesh
                                     President, Chief Executive
                                     Officer, Chief Financial
                                     Officer and Chairman of
                                     Technology Funding Inc. and
                                     Managing General Partner of
                                     Technology Funding Limited