<PAGE>

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

                              FORM 10-K

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

                 For The Fiscal Year Ended December 31, 2006

                                 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. 814-55

    TECHNOLOGY FUNDING VENTURE PARTNERS IV LIQUIDATING TRUST (INITIAL)
-----------------------------------------------------------------------
         (Exact name of Registrant as specified in its charter)

          DELAWARE                            94-3054600
-------------------------------    ----------------------------------
(State or other jurisdiction of   (I.R.S. Employer Identification No.)
incorporation or organization)

1107 Investment Boulevard, Suite 180
El Dorado Hills, California                                   95762
---------------------------------------                     --------
(Address of principal executive offices)                   (Zip Code)

                             (916) 941-1400
            --------------------------------------------------
           (Registrant's telephone number, including area code)












Securities registered pursuant to Section 12(b) of the Act:  None
Securities registered pursuant to Section 12(g) of the Act:  Limited
  Partnership Units


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
                                                               ---    ---

Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12B-2 of the Act).                         Yes    No X
                                                              ---   ---

Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be
contained, to the best of registrant's knowledge, in definitive proxy or
information statements incorporated by reference in Part III of this Form
10-K or any amendment to this Form 10-K. [   ]

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

Documents incorporated by reference:  Portions of the Registrant's Proxy
Statement relating to the Registrant's Meeting of Limited Partners held
on November 8, 2002 are incorporated by reference into Part III of this
Form 10-K where indicated.



<PAGE>
                                   PART I

Item 1.  BUSINESS
------   --------

On July 7, 2006 (inception), the Technology Funding Venture
Partners IV Liquidating Trust (the Trust) was established.  On
that date, all of the assets and liabilities of Technology Funding
Venture Partners IV, An Aggressive Growth Fund, L.P. (the
Partnership), a Delaware limited partnership and registrant under
the Securities Exchange Act of 1934, were transferred to the
Trust.  Subsequently, a Certificate of Cancellation was filed with
the Secretary of State of the State of Delaware on July 7, 2006.
The Form N-54C was filed with the Securities and Exchange
Commission (SEC) on July 10, 2006, withdrawing the Partnership's
election to be regulated as a Business Development Company, and
the Form 15 noticing termination of registration under Section
12(g) of the Securities Exchange Act of 1934 was filed with the
SEC on July 11, 2007.  At that point, the Partnership ceased to
exist and no longer had any obligation under the Securities
Exchange Act of 1934 to file an annual report with the SEC.

Technology Funding Inc. (TFI), one of the managing general
partners of the Partnership, serves as Trustee of the Trust.  TFI
is a wholly owned subsidiary of Technology Funding Ltd. (TFL), the
other managing general partner of the Partnership.  Under the
terms of Section 13.1 of the Liquidating Trust Agreement approved
by a majority in interest of the Limited Partners on July 7, 2006,
pursuant to the definitive proxy statement filed with the SEC on
May 23, 2006,and revised on June 5, 2006, the Trustee agreed to
file an unaudited Annual Report on Form 10-K even though the Trust
is not registered under Section 12(g) of the Act.

Section 13.1 of the Liquidating Trust Agreement is designed to
keep beneficiaries of the Trust informed of the progress of the
liquidation of assets and reads as follows:

    13.1   The Trustee will provide Beneficiaries with periodic
    reports containing unaudited financial statements, including
    an annual report showing assets and liabilities of the Trust
    and receipts and disbursements of the Trustee with respect
    to the Trust for the period. The financial statements will
    be prepared in accordance with Generally Accepted Accounting
    Principles but not audited by independent registered public
    accountants. The unaudited annual report will be filed with
    the Securities and Exchange Commission under cover of Form
    10-K and other reportable events will be filed under Form
    8-K. Such filings will be done under the Partnership's
    Commission file number.


The Partnership was a limited partnership organized under the laws
of the State of Delaware on December 4, 1986.  For the period from
December 5, 1986, through November 14, 1988, the Partnership was
inactive.  The Partnership filed a registration statement with the
Securities and Exchange Commission on November 14, 1988, and
commenced selling Units of limited partnership interest (Units) in
January 1989.  On February 16, 1989, the minimum number of Units
required to commence Partnership operations (15,000) had been
sold.  The offering terminated with 400,000 Units sold on
September 14, 1990.  The Partnership's original contributed
capital was $40,034,891, consisting of $39,994,896 from Limited
Partners for 400,000 Units and $39,995 from the General Partners,
Technology Funding Ltd. (TFL) and Technology Funding Inc. (TFI).
The General Partners do not own any Units.

The principal investment objectives of the Partnership were long-
term capital appreciation from venture capital investments in new
and developing companies and preservation of Limited Partner
capital through risk management and active involvement with such
companies (portfolio companies).  The Partnership's investments in
portfolio companies primarily consisted of equity securities such
as common and preferred shares, but also included debt convertible
into equity securities and warrants and options to acquire equity
securities.  Although venture capital investments offer the
opportunity for significant gains, such investments involve a high
degree of business and financial risk that can result in
substantial losses.  Among these are the risks associated with
investment in companies in an early stage of development or with
little or no operating history, companies operating at a loss or
with substantial variations in operating results from period to
period, and companies with the need for substantial additional
capital to support expansion or to achieve or maintain a
competitive position.  Such companies may face intense
competition, including competition from companies with greater
financial resources, more extensive development, manufacturing,
marketing and service capabilities, and a larger number of
qualified managerial and technical personnel.  There was no ready
market for many of the Partnership's investments.  The
Partnership's investments in portfolio companies were generally
subject to restrictions on sale because they were acquired from
the issuer in private placement transactions or because the
Partnership was an affiliate of the issuer.

The Partnership was organized as a business development company
under the Investment Company Act of 1940, as amended (the Act),
and operated as a non-diversified investment company, as defined
in the Act.  The Partnership's term was extended for a two-year
period to December 31, 1999, pursuant to unanimous approval by the
Management Committee on December 5, 1997.  In April 1999, the
Management Committee further extended the term of the Partnership
to December 31, 2001.  At a special meeting on September 7, 2001,
the Limited Partners elected to extend the term of the Partnership
to December 31, 2002, and for up to three one-year extensions
through December 31, 2005.  On March 15, 2002, the Management
Committee unanimously approved a one-year extension of the
Partnership to December 31, 2003.  On November 8, 2002, the
Limited Partners approved an amendment to permit the Management
Committee to extend the term of the Partnership an additional
year.  At the March 12, 2004, meeting, the Independent General
Partners approved an extension of the Partnership's term to
December 31, 2006.

In December 2005, the Management Committee and the Managing
General Partners adopted a plan of liquidation and began the
implementation thereof.  As part of the plan of liquidation and in
conjunction with the anticipated dissolution and then liquidation
of the Partnership, the Independent General Partners also approved
the retention of an independent third party to assist in the sale
of the Partnership's holdings.  On February 15, 2006, the
Independent General Partners approved a resolution directing the
Managing General Partners to notice a Special Meeting of the
Partnership at which meeting the Limited Partners would be asked
to vote upon a proposal to dissolve the Partnership prior to its
scheduled termination date of December 31, 2006, to place the
Partnership's assets and liabilities in a liquidating trust to be
formed for that purpose, and to withdraw the Partnership's
election as a Business Development Company under the 1940 Act.  At
a Special Meeting on July 7, 2006, a Majority in Interest of the
Limited Partners approved (1) the immediate dissolution of the
Partnership prior to the expiration of its term, (2) the filing of
the Form N-54C with the Securities and Exchange Commission
withdrawing the Partnership's election to be regulated as a
Business Development Company, (3) a formal Plan of Dissolution and
Liquidation, including the formation of a Liquidating Trust, and
(4) the ratification of management's appointment of Heard,
McElroy, Vestal, LLP as independent registered public accountants
of the Partnership.  Following the meeting, the Managing General
Partners executed the Liquidating Trust Agreement and the Bill of
Sale, Assignment, Acceptance and Assumption Agreement as outlined
in the Plan of Dissolution and Liquidation.  Also on July 7, 2006,
the Partnership filed a Certificate of Cancellation with the
Secretary of State of the State of Delaware. On July 10, 2006,
Form N-54C withdrawing the Partnership's election to be regulated
as a BDC was filed with the Securities and Exchange Commission
(SEC) on behalf of the Partnership. On July 11, 2006, Form 15 was
filed with the SEC on behalf of the Partnership, terminating its
registration under the Securities Exchange Act of 1934.

While in liquidation, the Trust will continue to accrue all
estimated liquidation costs and any future operating costs
including administrative and investor services, computer services,
record retention costs, professional fees and estimated legal
costs of the Trust through final termination, as provided for in
the Partnership Agreement.  Based on changing market conditions
and new information, it is possible that net proceeds from the
sale of the Trust's assets could be greater than or less than the
aggregate estimated liquidation values presented in the balance
sheet.  If the aggregate proceeds are ultimately less than the
values presented, it is possible that the sale proceeds will not
be sufficient to meet the Trust's obligations to the creditors.
If that is the case, the beneficiaries may receive no proceeds
upon completion of the liquidation process.  On October 25, 2006,
the Trust sold all of its investment assets, excluding those
related to Dakota Arms, Inc. and Dakota Holdings, LLC, to Industry
Ventures Acquisition Fund (Aperture), L.P. and Industry Ventures
Fund IV, L.P. (collectively, the Buyers) under the terms of a
Securities Purchase Agreement executed on October 9, 2006.  The
Buyers purchased the investment assets from the Trust for an
aggregate purchase price of approximately $2.6 million.  On
December 29, 2006, the Trust executed a Bill of Sale, Assignment,
Acceptance and Assumption Agreement with Technology Funding Ltd.,
(the Assignee) or its nominees, including but not limited to
Technology Funding Group, LLC and/or Dakota Equities, LLC, for the
remaining holdings in the portfolio.  The Assignee paid a total of
$231 dollars for illiquid assets with Fair Values totaling $0.00
at December 29, 2006.  Any proceeds from the liquidation of the
assets of the Trust were paid first to creditors of the Trust
including the Managing General Partners as provided in Section
15.02 of the Limited Partnership Agreement and Section 3.3 of the
Liquidating Trust Agreement.

On February 28, 2007, the United States Bankruptcy Court, District
of Minnesota, issued an Order approving the sale pursuant to
Section 363 of the United States Bankruptcy Code of substantially
all assets of Dakota Arms, Inc. to Technology Funding Group, LLC,
and Dakota Equity, LLC, entities controlled by Charles R. Kokesh,
for $1,120,000 plus a guarantee to make two additional payments of
$100,000 each 180 days and 545 days from Closing.  The only other
bidder in the sale submitted a lesser bid only for a portion of
the assets.  Negotiations continue with that entity, and the
bankruptcy estate may receive further proceeds.

Technology Funding Venture Partners IV Liquidating Trust and an
affiliated trust had provided the Debtor in Possession ("DIP")
loan to Dakota Arms, Inc., after Dakota filed a voluntary petition
for reorganization under Chapter 11 of the United States
Bankruptcy Code on July 6, 2007.  The Trust provided $92,500 in
DIP financing to Dakota.  Upon the sale of Dakota's assets, the
Trust received $49,000 back as repayment of the DIP loan.  The
balance of the DIP loan remains a liability of the bankruptcy
estate.

Item 2.  PROPERTIES
------   ----------

The Trust has no material physical properties.

Item 3.  LEGAL PROCEEDINGS
------   -----------------

From time to time, the Trust is subject to routine litigation
incidental to the business of the Trust.  Although there can be no
assurances as to the ultimate disposition of these matters, it is
the opinion of the Liquidating Trustee, based upon the information
available at this time, that the expected outcome of these
matters, individually or in the aggregate, will not have a
material adverse effect on the results of operations and financial
condition of the Trust.

Item 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
------   ---------------------------------------------------

No matters were submitted to a vote of the Trust's beneficial
interest holders from July 7, 2006 (inception) through December
31, 2006.

                                 PART II

Item 5.  MARKET FOR TRUST'S COMMON EQUITY AND RELATED STOCKHOLDER
------   -------------------------------------------------------------
         MATTERS
         -------

        (a) There is no established public trading market for the
            Units.

   (b) At December 31, 2006, there were 7,886 beneficial interest
            holders in the Trust.

        (c) The Trust does not pay dividends.  Cash distributions, however,
            may be made to the beneficial interest holders pursuant to
            the Trust Agreement.

<PAGE>


Item 6.  SELECTED FINANCIAL DATA
------   -----------------------

<TABLE>
<CAPTION>                                              For the period from inception (July 7, 2006)
                                                               through December 31, 2006
                                                       --------------------------------------------
<S>                                                                           <C>

Total investment income                                                   $    1,381

Net investment loss                                                          (89,878)

Net realized loss from
 sales of equity investments                                              (1,013,066)

Realized gain from
 venture capital limited
  partnership investments                                                     20,849

Decrease in
 unrealized depreciation:
  Equity investments                                                       3,236,817


Net increase in net assets
 in liquidation resulting
 from operations                                                          $2,154,722


Net assets in liquidation                                                 $  352,164



</TABLE>


Item 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
------   -------------------------------------------------
         CONDITION AND RESULTS OF OPERATIONS
         -----------------------------------

Financial Condition, Liquidity and Capital Resources
----------------------------------------------------

The Trust's assets and liabilities were transferred to it from
Technology Funding Venture Partners IV, An Aggressive Growth
Fund, L.P. On October 25, 2006, the Trust sold all of its
investment assets, excluding those related to Dakota Arms, Inc.
and Dakota Holdings, LLC, to Industry Ventures Acquisition Fund
(Aperture), L.P. and Industry Ventures Fund IV, L.P.
(collectively, the Buyers) under the terms of a Securities
Purchase Agreement executed on October 9, 2006.  The Buyers
purchased the investment assets from the Trust for an aggregate
purchase price of approximately $2.9 million.  On December 29,
2006, the Trust executed a Bill of Sale, Assignment, Acceptance
and Assumption Agreement with Technology Funding Ltd., (the
Assignee) or its nominees, including but not limited to
Technology Funding Group, LLC and/or Dakota Equities, LLC, for
the remaining holdings in the portfolio.  The Assignee paid a
total of $231 dollars for illiquid assets with Fair Values
totaling $0.00 at December 29, 2006.  Any proceeds from the
liquidation of the assets of the Trust were paid first to
creditors of the Trust including the Managing General Partners
as provided in Section 15.02 of the Limited Partnership
Agreement.  While in liquidation, the Trust will continue to
accrue all estimated liquidation costs and any future operating
costs including administrative and investor services, computer
services, record retention costs, professional fees and
estimated legal costs of the Trust through final termination, as
provided for in the Partnership Agreement.  The Trustee has not
planned any expenditures, nor is it aware of any contingencies
that would cause it to require any additional capital to that
mentioned above.

Cash and cash equivalents at December 31, 2006, were $428,074.
At December 31, 2006, there was no restricted cash.

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

The net increase in net assets in liquidation resulting from
operations was $2,154,722 for the period from inception (July 7,
2006) through December 31, 2006.

Unrealized appreciation on equity investments was $0 and
$3,236,817 at December 31, 2006, and July 7, 2006, respectively.
In the period from inception (July 7, 2006) through December 31,
2006, the net increase in unrealized appreciation of equity
investments of $3,236,817 was primarily attributable to the
liquidation of all trust equity investments during the period.

During the period from inception (July 7, 2006) through December
31, 2006, net realized loss from sales of equity investments was
$1,013,066, primarily from gains on the sale of shares of
Sanarus Medical, Inc.

During the period from inception (July 7, 2006) through December
31, 2006, the Trust recorded net realized gains from venture
capital limited partnership investments of $20,849.  The gains
represented distributions from profits of venture capital
limited partnerships.

Investment expenses were $91,259 for the period from inception
(July 7, 2006) through December 31, 2006.

Interest income was $1,381 during the period from inception
(July 7, 2006) through December 31, 2006.


Item 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK
-------  ----------------------------------------------------------

The Trust is subject to financial market risks, including
changes in interest rates with respect to its investments in
debt securities and interest-bearing cash equivalents as well as
changes in marketable equity security prices.  The Trust does
not use derivative financial instruments to mitigate any of
these risks.  The return on the Trust's investments is generally
not affected by foreign currency fluctuations.

Since none of the remaining holdings in the Trust are publicly
traded, the Trust does not have a significant exposure to public
market price fluctuations.  However, should significant changes
in market equity prices occur, there could be a longer-term
effect on valuations of private companies, which could affect
the carrying value and the amount and timing of gains or losses
realized on these investments.  Since there is typically no
public market for the Trust's investments in private companies,
the valuation of the investments is subject to the estimate of
the Trustee's management.  In the absence of a readily
ascertainable market value, the estimated value of the Trust's
investments in private companies may differ significantly from
the values that would be placed on the portfolio if a ready
market existed. These investments are directly exposed to equity
price risk, in that a hypothetical 10 percent change in these
equity prices would result in a similar percentage change in the
fair value of these securities.   As described in Note 1 to the
financial statements, the Trust is currently in liquidation and
all remaining investments are being carried at their estimated
liquidation value.




Item 8.  FINANCIAL STATEMENTS
------   --------------------

The financial statements of the Trust are set forth in Item 15.

Item 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING
------   -----------------------------------------------------------
         AND FINANCIAL DISCLOSURE
         ------------------------

Not applicable.

Item 9A. CONTROLS AND PROCEDURES
-------  -----------------------

The signing officer is responsible for establishing and
maintaining disclosure controls and procedures for Technology
Funding Venture Partners IV Liquidating Trust.  Such officer has
concluded (based upon his evaluation of these controls and
procedures as of a date within 90 days of the filing of this
report) that Technology Funding Venture Partners IV Liquidating
Trust disclosure controls and procedures are effective to ensure
that information required to be disclosed by Technology Funding
Venture Partners IV Liquidating Trust in this report is
accumulated and communicated to the Trustee's management,
including its principal executive officers as appropriate, to
allow timely decisions regarding required disclosure.

The certifying officer also has indicated that there were no
significant changes in Technology Funding Venture Partners IV
Liquidating Trust's internal controls or other factors that
could significantly affect such controls subsequent to the date
of their evaluation, and there were no corrective actions with
regard to significant deficiencies and material weaknesses.

                               PART III

Item 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE TRUST
-------  --------------------------------------------------

The Trust has no directors or executive officers.  The Trustee's
management is responsible for the management and administration
of the Liquidating Trust.

Code of Ethics
--------------

The Trust's Code of Ethics applies to the Technology Funding
corporate officers and employees.  The Code of Ethics is
attached as an exhibit (see Item 15 - Exhibits) and is also
available on the Trustee's web site, www.techfunding.com.  Any
amendments to, or waivers from, any provision of the Code that
applies to any of the executive officers will be disclosed on
the web site.
Item 11. EXECUTIVE COMPENSATION
-------  ----------------------

The Trust has no officers, directors or employees.  In the
period from inception (July 7, 2006) through December 31, 2006,
the Trust incurred management fees of $7,876 pursuant to Article
12 of the Liquidating Trust Agreement.  The Trustee shall be
reimbursed out of the Trust Estate for all expenses plus
operational costs as defined in Article 4 of the Limited
Partnership Agreement incurred pursuant to the performance of
the Trustee's duties hereunder including the reasonable
compensation and out-of-pocket expenses of attorneys,
accountants, appraisers, consultants and other persons retained
by the Trustee, until the Trust shall terminate.  The Trustee
shall receive no compensation for its services hereunder other
than an amount equivalent to the compensation and other payments
that the Trustee would have received as General Partner of the
Partnership as provided in Article 4 for the same or similar
services undertaken by the Trustee hereunder as if the General
Partner had undertaken such services on behalf of the
Partnership.  Management Fees shall be 1.0% per annum of the
reported Fair Value of the assets of the Trust.

Item 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
-------  --------------------------------------------------------------

Not applicable.  No beneficiary beneficially holds more than 5
percent of the aggregate number of Units held by all
beneficiaries, and neither the Trustee nor any of their
officers, directors or partners own any Units.  The Trustee's
management controls the affairs of the Trust pursuant to the
Trust Agreement.

Item 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
-------  ----------------------------------------------

The Trust, or its investee companies, have engaged in no
transactions with the Managing General Partners or their
officers and partners other than as described above, in the
notes to the financial statements, or in the Prospectus.

Item 14. PRINCIPAL ACCOUNTANT FEES AND SERVICES
-------  --------------------------------------

Tax Fees
--------

The Trust paid aggregate fees of approximately $3,761 to WTAS,
Inc. for tax-related services rendered to the Trust for the
period from inception (July 7, 2006) through December 31, 2006.




                               PART IV

Item 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
-------  ---------------------------------------

         (a)  List of Documents filed as part of this Annual Report on
               Form 10-K

            (1)  Financial Statements - the following financial
                  statements are filed as a part of this Report:

               Statements of Net Assets in Liquidation as of December 31,
                2006, and July 7, 2006 (inception).
               Statements of Investments as of December 31, 2006, and
                July 7, 2006 (inception).
               Statements of Changes in net assets in liquidation
                for the period from inception (July 7, 2006) through
                December 31, 2006.
               Notes to Financial Statements

            (2)  Financial Statement Schedules

                  All schedules have been omitted because they are not
                   applicable or the required information is included
                   in the financial statements or the notes thereto.

            (3)  Exhibits

                  14.1  Code of Ethics for the Trust
                  31.1  Section 302 Sarbanes-Oxley Certifications
                  32.1  Section 906 Sarbanes-Oxley Certifications




<PAGE>

STATEMENT OF NET ASSETS IN LIQUIDATION
--------------------------------------
<TABLE>
<CAPTION>
                                              December 31,       July 7,
                                                    2006            2006
                                                --------        --------
<S>                                               <C>              <C>
ASSETS

Investments:
  Equity investments (cost basis of
   $0 and $3,697,731 at December 31,
   2006, and July 7, 2006, respectively)      $       --     $   460,914

Cash and cash equivalents                        428,074           2,795
Escrow holdback                                  134,291              --
Dakota Arms DIP Loan receivable                   65,229              --
                                               ---------       ---------
       Total assets                           $  627,594     $   463,709
                                               =========       =========

LIABILITIES AND NET ASSETS IN LIQUIDATION

Accounts payable and accrued expenses         $       --     $        --
Due to related parties                            20,407       1,481,119
Estimated liquidation and holdback costs         251,670         771,794
Other liabilities                                  3,353          13,354
                                               ---------       ---------
       Total liabilities                         275,430       2,266,267


Net assets in liquidation                     $  352,164     $(1,802,558)
                                               ---------       ---------
       Total liabilities and
        net assets in liquidation             $  627,594     $   463,709
                                               =========       =========
</TABLE>










The accompanying notes are an integral part of these financial
statements.


STATEMENTS OF INVESTMENTS
-------------------------
<TABLE>
<CAPTION>
                                         Principal
                                         Amount or   December 31, 2006         July 7, 2006
Industry                                 Shares at   -----------------       -----------------
(1)                         Investment  December 31, Cost       Fair         Cost        Fair
Company           Position  Date          2006       Basis      Value        Basis       Value
-------------     --------  ----------  -----------  -----      -----        -----       -----
<S>                <C>         <C>      <C>         <C>        <C>          <C>        <C>
Equity Investments
------------------
Medical/Biotechnology
---------------------
Sanarus
 Medical,          Preferred    1999-
 Inc. (a) (b)      shares       2005           0   $      --  $      --  $  947,670  $ 460,914
                                                   ---------  ---------  ----------  ---------

Environmental
-------------
Various
 investments       various      1999           0          --         --      10,614         --
                                                   ---------  ---------  ----------  ---------

Retail / Consumer Products
--------------------------
Dakota             LLC          2003-
 Holdings, LLC (a) units        2004           0          --         --   2,165,889          0
Dakota             Bridge
 Holdings, LLC     loan         2005           0          --         --     101,359          0
Dakota             Preferred
 Arms, Inc.        shares  (2)  2004           0          --         --      72,503          0
                                                   ---------    -------     -------  ---------
                                                          --         --   2,339,751          0




STATEMENTS OF INVESTMENTS (continued)
--------------------------------------------
Venture Capital Limited Partnership Investments
-----------------------------------------------
Various            Ltd.
 investments       Partnership
                   interests  various         0           --        --      399,696          0
                                                   ---------  ---------  ----------  ---------


Total investments                                 $       -- $       -- $ 3,697,731 $  460,914
                                                   =========  =========  ==========  =========

Legends and footnotes:

--  No investment held at end of period.
 0  Investment active with a cost basis or fair value of zero.

(a) Equity security acquired in a private placement transaction; resale may be subject to
certain selling restrictions.
(b) Portfolio company is an affiliate of the Liquidating Trust; resale may be subject to
certain selling restrictions.
(1) The Trust has no income-producing equity investments except for convertible notes which
include accrued interest.  Interest rates on such notes are 4.79 percent.

</TABLE>

The accompanying notes are an integral part of these financial statements.


<PAGE>
STATEMENTS OF CHANGES IN NET ASSETS IN LIQUIDATION
--------------------------------------------------
<TABLE>
<CAPTION>
For the period from inception (July 7, 2006) through December 31, 2006:


                                Trust
                                Beneficiaries  Trustee         Total
                                      ---------------    --------           ------
<CAPTION>
<S>                              <C>          <C>            <C>
Net assets in liquidation
    July 7, 2006                 $   666,965   $(2,469,523)  $(1,802,558)

Net investment loss                (71,902)      (17,976)      (89,878)
Net realized loss                 (789,812)     (202,405)     (992,217)
Net decrease in unrealized
 depreciation                    2,589,454       647,363     3,236,817
                                 ---------     ---------     ---------
Net assets in liquidation
  December 31, 2006            $ 2,394,704   $(2,042,540)  $   352,164
                                 =========     =========     =========

</TABLE>
























The accompanying notes are an integral part of these financial
statements.


<PAGE>

NOTES TO FINANCIAL STATEMENTS
-----------------------------

1.  Summary of Significant Accounting Policies
    ------------------------------------------

Organization
------------

Technology Funding Venture Partners IV, An Aggressive Growth Fund, L.P.
(the Partnership) was a limited partnership organized under the laws of the
State of Delaware on December 4, 1986.  The purpose of the Partnership was
to make venture capital investments in new and developing companies.  The
Partnership elected to be treated as a business development company under
the Investment Company Act of 1940, as amended (the Act), and operated as a
nondiversified investment company, as defined in the Act.  The Managing
General Partners were Technology Funding Ltd. (TFL) and Technology Funding
Inc. (TFI), a wholly owned subsidiary of TFL.  There were also two
Independent General Partners.  The Independent General Partners and a
representative from TFL constitute the Management Committee, which was
responsible for the management and administration of the Partnership.

For the period from December 5, 1986, through November 14, 1988, the
Partnership was inactive.  The Partnership's registration statement was
declared effective by the Securities and Exchange Commission on November
14, 1988, and the Partnership commenced selling Units of limited
partnership interests (Units) on January 10, 1989.  On February 16, 1989,
the minimum number of Units required to commence Partnership operations
(15,000) were sold.  The offering terminated with 400,000 Units sold on
September 14, 1990.  The Partnership's original contributed capital was
$40,034,891, consisting of $39,994,896 from Limited Partners for 400,000
Units and $39,995 from General Partners.  The General Partners do not own
any Units.  The Partnership's term was extended for a two-year period to
December 31, 1999, pursuant to unanimous approval by the Management
Committee on December 5, 1997.  In April 1999, the Management Committee
further extended the term of the Partnership to December 31, 2001.  At a
special meeting on September 7, 2001, the Limited Partners elected to
extend the term of the Partnership to December 31, 2002, and for up to
three one-year extensions through December 31, 2005.  On March 15, 2002,
the Management Committee unanimously approved a one-year extension of the
Partnership to December 31, 2003.  On November 8, 2002, the Limited
Partners approved an additional one-year extension of the Partnership's
term to December 31, 2006, at the discretion of the Management Committee.
At the March 12, 2004, meeting, the Management Committee approved an
extension of the Partnership's term to December 31, 2006.

Liquidation of the Partnership
------------------------------

In December 2005, the Management Committee and the Managing General
Partners adopted a plan of liquidation and began the implementation
thereof.  As part of the plan of liquidation and in conjunction with the
anticipated dissolution and then liquidation of the Partnership, the
Independent General Partners also approved the retention of an independent
third party to assist in the sale of the Partnership's holdings.  On
February 15, 2006, the Independent General Partners approved a resolution
directing the Managing General Partners to notice a Special Meeting of the
Partnership at which meeting the Limited Partners would be asked to vote
upon a proposal to dissolve the Partnership prior to its scheduled
termination date of December 31, 2006, to place the Partnership's assets
and liabilities in a liquidating trust to be formed for that purpose, and
to withdraw the Partnership's election as a Business Development Company
under the 1940 Act.  At a Special Meeting on July 7, 2006, a Majority in
Interest of the Limited Partners approved (1) the immediate dissolution of
the Partnership prior to the expiration of its term, (2) the filing of the
Form N-54C with the Securities and Exchange Commission withdrawing the
Partnership's election to be regulated as a Business Development Company,
(3) a formal Plan of Dissolution and Liquidation, including the formation
of a Liquidating Trust, and (4) the ratification of management's
appointment of Heard, McElroy, Vestal, LLP as independent registered public
accountants of the Partnership.  Following the meeting, the Managing
General Partners executed the Liquidating Trust Agreement and the Bill of
Sale, Assignment, Acceptance and Assumption Agreement as outlined in the
Plan of Dissolution and Liquidation.  Also on July 7, 2006, the Partnership
filed a Certificate of Cancellation with the Secretary of State of the
State of Delaware. On July 10, 2006, Form N-54C withdrawing the
Partnership's election to be regulated as a BDC was filed with the
Securities and Exchange Commission (SEC) on behalf of the Partnership. On
July 11, 2006, Form 15 was filed with the SEC on behalf of the Partnership,
terminating its registration under the Securities Exchange Act of 1934.

On October 25, 2006, the Trust sold all of its investment assets, excluding
those related to Dakota Arms, Inc. and Dakota Holdings, LLC, to Industry
Ventures Acquisition Fund (Aperture), L.P. and Industry Ventures Fund IV,
L.P. (collectively, the Buyers) under the terms of a Securities Purchase
Agreement executed on October 9, 2006.  The Buyers purchased the investment
assets from the Trust for an aggregate purchase price of approximately $2.6
million.  On December 29, 2006, the Trust executed a Bill of Sale,
Assignment, Acceptance and Assumption Agreement with Technology Funding
Ltd., (the Assignee) or its nominees, including but not limited to
Technology Funding Group, LLC and/or Dakota Equities, LLC, for the
remaining holdings in the portfolio.  The Assignee paid a total of $231
dollars for illiquid assets with Fair Values totaling $0.00 at December 29,
2006.  Any proceeds from the liquidation of the assets of the Trust were
paid first to creditors of the Trust including the Managing General
Partners as provided in Section 15.02 of the Limited Partnership Agreement
and Section 3.3 of the Liquidating Trust Agreement.  While in liquidation,
the Trust will continue to accrue all estimated liquidation costs and any
future operating costs including administrative and investor services,
computer services, record retention costs, professional fees and estimated
legal costs of the Trust through final termination, as provided for in the
Partnership Agreement.  Based on changing market conditions and new
information, it is possible that net proceeds from the sale of the Trust's
assets could be greater than or less than the aggregate estimated
liquidation values presented in the balance sheet.  If the aggregate
proceeds are ultimately less than the values presented, it is possible that
the sale proceeds will not be sufficient to meet the Trust's obligations to
the creditors.  If that is the case, the beneficiaries may receive no
proceeds upon completion of the liquidation process.

Liquidation Accounting
----------------------

In accordance with the liquidation basis of accounting, the carrying values
of the assets are presented at net realizable amounts and all liabilities
are presented at estimated settlement amounts, including estimated costs
associated with completing the liquidation of the Trust. Preparation of the
financial statements on a liquidation basis requires significant
assumptions by the Trust, including the estimate of liquidation costs and
the resolution of any contingent liabilities. There may be differences
between the assumptions and the actual results because events and
circumstances may not occur as expected. Those differences, if any, could
result in a change in the assets recorded in the Statement of Assets and
Liabilities in Liquidation.

Investments
-----------

Investments are carried at estimated liquidation amounts, which management
believes approximate estimated fair value as determined below:

Equity Investments
------------------

The Trustee's management has the authority to establish valuation
procedures and periodically apply such procedures to the Partnership's
investment portfolio.  In fulfilling this responsibility, the Trustee's
management periodically updates and revises the valuation procedures used
to determine fair value in order to reflect new events, changing market
conditions, more experience with investee companies or additional
information, any of which may require the revision of previous estimating
procedures.

The fair value of all other investments is determined in good faith by the
Trustee's management after consideration of available relevant information.
There is no ready market for the Trust's investments in private companies
or unregistered securities of public companies.  Fair value is generally
defined as the amount the Trust could reasonably expect to receive for an
investment in an orderly disposition based on a current sale.  Significant
factors considered in the estimation of fair value include the inherent
illiquidity of and lack of marketability associated with venture capital
investments in private companies or unregistered securities, the investee
company's enterprise value established in the last round of venture
financing, changes in market conditions since the last round of venture
financing or since the last reporting period, the value of a minority
interest in the investee company, contractual restrictions on resale
typical of venture financing instruments, the investee company's financial
position and ability to obtain any necessary additional financing, the
investee company's performance as compared to its business plan, and the
investee company's progress towards initial public offering.  The values
determined for the Trust's investments in these securities are based upon
available information at the time the good faith valuations are made and do
not necessarily represent the amount which might ultimately be realized,
which could be higher or lower than the reported fair value.
At December 31, 2006, and July 7, 2006 (inception), the investment
portfolio included private company investments and venture capital limited
partnership investments totaling $0 and $460,914, respectively, whose fair
values were established in good faith by the Trustee's management in the
absence of readily ascertainable market values.  Because of the inherent
uncertainty in the valuation, the values may differ significantly from the
values that would have been used had a ready market for the securities
existed, and the differences could be material.

Venture capital limited partnership investments are valued based on the
fair value of the underlying investments.  Based on recent market analysis
and attempts to liquidate the Trust's interests in its venture capital
limited partnership investments, management has valued all remaining
interests at $0.  Limited partnership distributions that are a return of
capital reduce the cost basis of the Trust's investment.  Distributions
from limited partnership cumulative earnings are reflected as realized
gains by the Liquidating Trust.

Sales of equity investments are recorded on the trade date.  The basis on
which cost is determined in computing realized gains or losses is specific
identification.

Notes Receivable
----------------

The fair value of notes receivable is determined in good faith by the
Trustee's management.  Fair value is generally defined as the amount the
Liquidating Trust could reasonably expect to receive from another party
wishing to acquire the notes and accrued interest on the valuation date.
The values determined for the Trust's notes receivable are based upon
available information at the time the good faith valuations are made and do
not necessarily represent the amount which might ultimately be realized
which could be higher or lower than the reported fair value.  When the
Trustee's management assessment of fair value indicates that future
collectibility of interest or principal is in doubt, notes are placed on
non-accrual status.


Cash, Cash Equivalents and Restricted Cash
------------------------------------------

Cash, cash equivalents and restricted cash are principally comprised of
cash invested in demand accounts and money market instruments and are
stated at cost plus accrued interest.  The Partnership considers all money
market and short-term investments with an original maturity of three months
or less to be cash equivalents.



Provision for Income Taxes
--------------------------

The Trust is not subject to income taxes, as any income or loss is included
in the tax returns of the individual beneficial interest holders.
Accordingly, no provision for income taxes has been made in the financial
statements of the Trust.

The accompanying financial statements are prepared using accounting
principles generally accepted in the United States which may not equate to
tax accounting.  The cost of investments on a tax basis at December 31,
2006, and July 7, 2006, was $0 and $3,709,933, respectively.  At December
31, 2006, and July 7, 2006, gross unrealized depreciation on investments
based on cost for federal income tax purposes were as follows:

<TABLE>
<CAPTION>
                                      December 31,      July 7,
                                          2006           2006
                                      ------------   ------------
<S>                                  <C>            <C>
Unrealized appreciation               $         0   $        547
Unrealized depreciation                         0     (3,249,566)
                                        ---------      ---------
Net unrealized depreciation           $         0   $ (3,249,019)
                                        =========      =========
</TABLE>

2.  Related Party Transactions
    --------------------------

Related party costs are included in costs and expenses shown on the
Statements of Operations.  Related party costs for the period from
inception (July 7, 2006) through December 31, 2006,were as follows:

<TABLE>
<CAPTION>
                               For the period from inception (July 7, 2006)
                                          through December 31, 2006
                                     -----------------------------------
<S>                                    <C>          <C>
Management fees                    $            $    7,876
Reimbursable operating expenses:
  Administrative, investor
   services and professional
   fees                                            379,251
  Investment operations                             61,954
  Computer services                                 40,309

</TABLE>

Management fees are equal to one quarter of one percent of the fair value
of Trust assets for each quarter.  Management fees compensate the Trustee
solely for Trustee management overhead incurred in supervising the
operation and management of the Liquidating Trust and the Liquidating
Trust's investments.  Management fees due to the Trustee were $6,717 and
$6,720 and were included in due to related parties, net at December 31,
2006, and July 7, 2006, respectively.

The Liquidating Trust reimburses the Trustee for operating expenses
incurred in connection with the business of the Liquidating Trust.
Reimbursable operating expenses include expenses such as investment
operations, administrative and investor services, and computer services.
The management of the Trustee of this Liquidating Trust serves in a similar
capacity for other liquidating trusts, and all reimbursed expenses are
allocated to the various liquidating trusts based on a number of factors
including the size of each liquidating trust, the number of active
portfolio companies, and the amount of time spent by various employees of
the Trustee on the specific affairs of any one liquidating trust.  Amounts
due to related parties for such expenses totaled $20,407 and $1,482,119 at
December 31, 2006, and July 7, 2006, respectively.

Under the terms of a computer service agreement, Technology Administrative
Management, a division of TFL, charges the Liquidating Trust for its share
of computer support costs.  These amounts are included in computer services
expenses.

Officers of the Trustee occasionally receive stock options as compensation
for serving on the Boards of Directors of portfolio companies.  It is the
Trustee's policy that all such compensation be transferred to the investing
liquidating trusts.  If the options are non-transferable, they are not
recorded as an asset of the Liquidating Trust.  Any profit from the
exercise of such options will be transferred if and when the options are
exercised and the underlying stock is sold by the officers.  Any such
profit is allocated amongst the Liquidating Trust and affiliated
liquidating trusts based upon their proportionate investments in the
portfolio company.  One member of the Trustee's executive management serves
as interim CEO and Chairman of the Board for Dakota Arms, Inc., a portfolio
company.  The Managing General Partner does not receive any compensation
for these services.

3.  Equity Investments
    ------------------

All investments are valued at liquidation value as determined in good faith
by the Liquidating Trustee and in conjunction with Note 1 of the Form 10-K
for the year ended December 31, 2005.


Marketable Equity Securities
----------------------------

At December 31, 2006, and July 7, 2006 (inception), marketable equity
securities had aggregate costs of $0 and $3,697,731 respectively, and
aggregate fair values of $0 and $460,914, respectively.



The Trust sold its entire investment portfolio during the period from
inception (July 7, 2006) through December 31, 2006, as outlined below:

                               Date of Sale     Proceeds        Gain/(Loss)
                             ----------------------------------------------
 Sanarus Medical, Inc.         October 2006     2,685,815        1,738,144
 Triangle Biomedical Sciences  December 2006            1          (10,612)
 Dakota Arms, Inc.             December 2006          100          (72,403)
 Dakota Holdings, LLC          December 2006          100       (2,268,529)
 Medical Science Partners, LP  December 2006           10         (187,226)
 Onset Enterprises Assoc.      December 2006           10               10
 El Dorado Ventures II, LP     December 2006           10         (212,450)

Venture Capital Limited Partnership Investments
-----------------------------------------------

During November 2006, the Trust received a cash distribution of $20,849,
which was recorded as a realized gain.


Other Equity Investments
------------------------

Other significant changes reflected above relate to market value
fluctuations for publicly traded portfolio companies or changes in the fair
value of private companies as determined in accordance with the policy
described in Note 1 to the financial statements.

4.  Net Increase in Unrealized Appreciation of Equity Investments
    -------------------------------------------------------------

In accordance with the accounting policy as stated in Note 1, the
Statements of Changes in net assets in liquidation includes a line item
entitled "Net increase in unrealized appreciation of equity investments."
The table below discloses details of the changes:
<TABLE>
<CAPTION>

                               For the period from inception (July 7, 2006)
                                         through December 31, 2006
                               --------------------------------------------
<S>                                                    <C>
Unrealized (depreciation)
 appreciation from cost of
 marketable equity securities                    $        0

Unrealized depreciation from
 cost of non-marketable equity
 securities                                               0
                                                  ---------
Unrealized depreciation from
 cost at end of year                                      0

Unrealized depreciation from cost
 at beginning of year                             3,236,817
                                                  ---------
Net decrease in
 unrealized depreciation of
 equity investments                              $3,236,817
                                                 ==========
</TABLE>

5.  Cash and Cash Equivalents
    -------------------------

Cash and cash equivalents at December 31, 2006, and July 7, 2006, consisted
of demand accounts totaling $428,074 and $2,795, respectively.

6.  Distributions
    -------------

There were no distributions in for the period from July 7, 2006, through
December 31, 2006.

7.  Commitments and Contingencies
    -----------------------------

From time to time, the Liquidating Trust is subject to routine litigation
incidental to the business of the Trust.  Although there can be no
assurances as to the ultimate disposition of these matters, it is the
opinion of the Trustee's management, based upon the information available
at this time, that the expected outcome of these matters, individually or
in the aggregate, will not have a material adverse effect on the results of
operations and financial condition of the Liquidating Trust.

8.  Subsequent Events
    ------------------
From January 1, 2007, through February 28, 2007, the Liquidating Trust
advanced an additional $27,271 in Debtor-in-Possession funds to Dakota
Arms, Inc. as part of the portfolio company's Chapter 11 bankruptcy case.
On February 28, 2007, the United States Bankruptcy Court, District of
Minnesota, issued an Order approving the sale pursuant to Section 363 of
the United States Bankruptcy Code of substantially all assets of Dakota
Arms, Inc. to Technology Funding Group, LLC, and Dakota Equity, LLC,
entities controlled by Charles R. Kokesh, for $1,120,000 plus a guarantee
to make two additional payments of $100,000 each 180 days and 545 days from
Closing.  The only other bidder in the sale submitted a lesser bid only for
a portion of the assets.  Negotiations continue with that entity, and the
bankruptcy estate may receive further proceeds.

Technology Funding Venture Partners IV Liquidating Trust and an affiliated
trust had provided the Debtor in Possession ("DIP") loan to Dakota Arms,
Inc., after Dakota filed a voluntary petition for reorganization under
Chapter 11 of the United States Bankruptcy Code on July 6, 2007.  The Trust
provided $92,500 in DIP financing to Dakota.  Upon the sale of Dakota's
assets, the Trust received $49,000 back as repayment of the DIP loan.  The
balance of the DIP loan remains a liability of the bankruptcy estate.
<PAGE>


                              SIGNATURES
                              ----------

Pursuant to the requirements of the Securities Exchange Act of 1934, the
Trust has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.

                         TECHNOLOGY FUNDING VENTURE PARTNERS IV
                         LIQUIDATING TRUST

                         By:  TECHNOLOGY FUNDING INC.
                              TECHNOLOGY FUNDING LTD.
                              TRUSTEE

Date:  August 27, 2007    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 Ltd.

Pursuant to the requirements of the Securities Exchange Act of 1934, this
Report on Form 10-K has been signed by the following persons on behalf of
the Trust and in the capacities and on the dates indicated:

          Signature           Capacity                 Date
          ---------           --------                 ----

 /s/Charles R. Kokesh         President, Chief         August 27, 2007
------------------------      Executive Officer,
    Charles R. Kokesh         Chief Financial Officer,
                              and Chairman of
                              Technology Funding Inc.
                              and Managing General
                              Partner of Technology
                              Funding Ltd.

The above represents a majority of the Board of Directors of Technology
Funding Inc. and the General Partners of Technology Funding Ltd.

Technology Funding Partners IV Liquidating Trust     11:42 AM
08/27/07


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Technology Funding Partners IV Liquidating Trust


Technology Funding Partners IV Liquidating Trust