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 quarterly period ended June 30, 1999

[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
     EXCHANGE ACT OF 1934
          For the transition period from ___________ to _________________

                 Commission File Number:  018581

                RENAISSANCE CAPITAL PARTNERS, LTD.
_____________________________________________________________________________
      (Exact name of registrant as specified in its charter)

          Texas                                75-2296301
_____________________________________________________________________________
(State or other jurisdiction           (I.R.S. Employer I.D. No.)
of incorporation or organization)

8080 North Central Expressway, Dallas, Texas         75206-1857
_____________________________________________________________________________
(Address of principal executive offices)              (Zip Code)

                           214/891-8294
_____________________________________________________________________________
       (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
                       ______    ______
<PAGE>
                  PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

                RENAISSANCE CAPITAL PARTNERS, LTD.

              Statements of Assets, Liabilities and
                        Partners' Equity

<TABLE>                                    <S>                  <S>
       Assets                              December 31, 1998    June 30, 1999
                                                                 (Unaudited)
                                           -----------------    -------------
                                              <C>                <C>
Cash and cash equivalents                     $   924,786        $   584,277
Investment in Sunrise Media LLC                 1,152,674          1,037,739
Investments at market value, cost of
 $5,658,903 and $5,901,434 at December
 31, 1998 and June 30, 1999 respectively        1,636,807          1,794,934
Interest and fees receivable                       28,093             22,766
Other assets                                        2,594                416
                                               ----------         ----------
                                               $3,744,954         $3,440,132
                                               ==========         ==========
   Liabilities and Partners' Equity

Accounts payable - trade                       $    9,201         $      -0-
Accounts payable - related party                   49,473             28,012
                                               ----------         ----------
    Total liabilities                              58,674             28,012
                                               ----------         ----------
Partners' equity:
 General partner                                     -0-                 -0-
 Limited partners: 128.36 units outstanding     3,686,280          3,412,120
                                               ----------         ----------
    Total partners' equity                      3,686,280          3,412,120
                                               ----------         ----------
                                               $3,744,954         $3,440,132
                                               ==========         ==========
Limited partners' equity per limited
 partnership unit                              $   28,718         $   26,582
                                               ==========         ==========
<FN>
See accompanying notes to financial statements. </FN> </TABLE> <PAGE>
                     RENAISSANCE CAPITAL PARTNERS, LTD.

                          Statements of Operations

                                (Unaudited)
<TABLE>                 <S>                          <S>
                        Three Months Ended June 30,  Six Months Ended June 30,
                            1998          1999           1998         1999
                        -----------    ---------     -----------   ---------
Income:                 <C>            <C>           <C>           <C>

  Interest              $     7,397    $   4,538     $    19,869   $  11,968
  Dividends                   5,943        4,905          13,030       9,674
  Other investment
   income                       -0-          -0-             -0-         -0-
                        -----------    ---------     -----------   ---------
    Total income             13,340        9,443          32,899      21,642
                        -----------    ---------     -----------   ---------
Expenses:
  General and
   administrative            70,052       27,752         140,804      59,599
  Management fees            29,664       17,146          72,326      36,863
                        -----------    ---------     -----------   ---------
    Total expenses           99,716       44,898         213,130      96,462
                        -----------    ---------     -----------   ---------
    Investment loss
     net                    (86,376)     (35,455)       (180,231)    (74,820)

    Loss from investment
     in Sunrise Media
     LLC                    (58,593)     (40,623)       (108,145)   (114,936)

    Net realized gain
     (loss) on
     investments           (483,571)         -0-        (483,571)        -0-

    Net unrealized gain
     (loss) on
     investments         (1,957,934)    (435,551)     (3,499,544)    (84,404)
                        -----------    ---------     -----------   ---------
    Net income (loss)
     resulting from
     operations         $(2,586,474)   $(511,629)    $(4,271,491)  $(274,160)
                        ===========    =========     ===========   =========

   Net income (loss)
    per limited
    partnership unit    $   (20,150)   $  (3,986)    $   (33,213)  $  (2,136)
                        ===========    =========     ===========   =========

   Weighted average
    limited partner-
    ship units               128.36       128.36          128.61      128.36
                             ======       ======          ======      ======
<FN>
See accompanying notes to financial statements. </FN> </TABLE> <PAGE>
                     RENAISSANCE CAPITAL PARTNERS, LTD.

                       Statement of Partners' Equity


<TABLE>                                 <S>          <S>             <S>
                                        General       Limited
                                        Partner      Partners        Total
                                       --------     ----------    ----------
                                       <C>          <C>           <C>
Balance, December 31, 1998             $    -0-     $3,686,280    $3,686,280

Net income (unaudited)                      -0-       (274,160)     (274,160)
                                       --------     ----------    ----------
Balance, June 30, 1999-(unaudited)$         -0-     $3,412,120    $3,412,120
                                       ========     ==========    ==========

<FN>
See accompanying notes to financial statements. </FN> </TABLE> <PAGE
                     RENAISSANCE CAPITAL PARTNERS, LTD.

                          Statement of Cash Flows

                                (Unaudited)
<TABLE>                   <S>                         <S>
                          Three Months Ended June 30, Six Months Ended June 30,
                             1998           1999         1998          1999
                          -----------    ---------    -----------   ---------
                          <C>            <C>          <C>           <C>
Cash flows from
 operating activities:
  Net income (loss)       $(2,586,474)   $(511,629)   $(4,271,491)  $(274,160)

  Adjustments to
   reconcile net
   income (loss) to
   net cash used in
   operating activities:
    Loss from Sunrise
     Media LLC                 58,593       40,623        108,145     114,936
    Unrealized (gain)
     loss on investments    1,957,934      435,551      3,499,544      84,404
    Realized loss on
     investments              483,571          -0-        483,571         -0-
    (Increase) decrease
     in:
      Accounts receivable      16,024       12,994          3,316       5,327
      Other assets                533        1,223        104,942       2,178
    Increase (decrease) in:
      Accounts payable       (108,759)       4,417        (31,976)    (30,662)
                           ----------    ---------    -----------   ---------
    Net cash flows from
     operating activities    (178,578)     (16,821)      (103,949)    (97,977)
                           ----------    ---------    -----------   ---------
Cash flows from investing
 activities:
  Purchase of investments     (10,000)     (42,532)       (89,000)   (242,532)
  Proceeds from sale of
   securities                 620,350          -0-        620,350         -0-
                           ----------    ---------    -----------   ---------
    Net cash used by
     investing activities     610,350      (42,532)       531,350    (242,532)
                           ----------    ---------    -----------   ---------
Cash flows from financing
 activities:
  Liquidation of partners
   interests                      -0-          -0-        (38,701)        -0-
                           ----------    ---------    -----------   ---------
 Net increase (decrease)
  in cash                     431,772      (59,353)       388,700    (340,509)

Cash and cash equivalents
 at beginning of period       609,457      643,630        652,529     924,786
                           ----------    ---------    -----------   ---------
Cash and cash equivalents
 at end of period          $1,041,229     $584,277     $1,041,229    $584,277
                           ==========     ========     ==========    ========
<FN>
See accompanying notes to financial statements. </FN> </TABLE> <PAGE>
                 RENAISSANCE CAPITAL PARTNERS, LTD.
                    Notes to Financial Statements
                            June 30, 1999

1. Organization and Business Purpose

   Renaissance Capital Partners, Ltd. (the "Partnership"), a Texas limited
   partnership, was formed on July 31, 1989.  The Partnership seeks to achieve
   current income and long-term capital appreciation by making investments
   primarily in private placement convertible debt securities of smaller public
   companies.  The Partnership has elected to be treated as a business
   development company under the Investment Company Act of 1940, as amended.
   The Partnership will terminate upon liquidation of all its investments, but
   no later than June 14, 2000, subject to the right of the Independent General
   Partners to extend the term for up to one additional one-year period if they
   determine that such extension is in the best interest of the Partnership.
   The Independent General Partners have already elected to exercise two of
   three extension periods available to them.  The Partnership has begun
   liquidation of its investments.

2. Summary of Significant Accounting Policies

   A. Contributed Capital - Proceeds from the sale of the limited partnership
      interests, net of related selling commissions and syndication costs, are
      recorded as contributed capital.

   B. Statement of Cash Flows - The Partnership considers all highly liquid debt
      instruments with original maturities of three months or less to be cash
      equivalents.  No interest or income taxes were paid during the periods.

   C. Valuation of Investments - The valuation of investments in debentures and
      preferred stock which are convertible into unregistered securities is
      based upon the bid price of the underlying securities obtained through
      normal market systems less a discount for selling and registration costs.
      For those investments not having an established market, the valuation is
      at the Partnership's costs for the first six months after closing and will
      be redetermined by the General Partners subsequent to that time period.

   D. Management Estimates - The financial statements have been prepared in
      conformity with generally accepted accounting principles.  The preparation
      of the accompanying financial statements requires estimates and
      assumptions made by management of the Partnership that affect the reported
      amounts of assets and liabilities as of the date of the statements of
      assets, liabilities and partners' equity and income and expenses for the
      period.  Actual results could differ significantly from those estimates.

   E. Interest Income  - Interest income is accrued on all debt securities owned
      by the partnership on a quarterly basis.  When it is determined that the
      interest accrued will not be collected, the income for that quarter is
      reduced to reflect the net interest earned during the period.  Interest
      accrued for the current quarter was $4,538, and none was determined to be
      uncollectible and charged against the income.  At June 30, 1999, two
      companies had debt obligations to the Partnership:  Danzer Corporation
      owed $25,000 pursuant to a 13% Promissory Note and Sunrise Media LLC
      owed $237,000 to the Partnership pursuant to three separate Promissory
      Notes.  Sunrise is in default on all of its debt obligations to the
      Partnership.  Due to the problems present at Sunrise, the Partnership may
      not accrue any further interest income on these debt obligations.

   F. Financial Instruments - In accordance with the reporting requirements of
      Statement of Financial Accounting Standards No. 107, "Disclosures about
      Fair Value of Financial Instruments," the Company calculates the fair
      value of its financial instruments and includes this additional
      information in the notes to the financial statements when the fair value
      is different than the carrying value of those financial instruments.  When
      the fair value reasonably approximates the carrying value, no additional
      disclosure is made.

3. Basis of Presentation

   The accompanying financial statements have been prepared without audit, in
   accordance with the rules and regulations of the Securities and Exchange
   Commission and do not include all disclosures normally required by generally
   accepted accounting principles or those normally made in annual reports on
   Form 10-K.  All material adjustments, consisting only of those of a normal
   recurring nature, which, in the opinion of management, were necessary for a
   fair presentation of the results for the interim periods have been made.
<PAGE>
                 RENAISSANCE CAPITAL PARTNERS, LTD.
              Notes to Financial Statements (Continued)
                            June 30, 1999

4. Partnership Agreement

   Pursuant to the terms of the partnership agreement, all items of income,
   gain, loss and deduction of the Partnership, other than any Capital
   Transaction, as defined, will be allocated 1% to Renaissance and 99% to the
   Limited Partners.  All items of gain of the Partnership resulting from a
   Capital Transaction shall be allocated such that the Limited Partners receive
   a cumulative simple annual return of 10% on their capital contributions and
   any remaining gains shall be allocated 20% to Renaissance and 80% to the
   Limited Partners.  All items of loss resulting from Capital Transactions
   shall be allocated 1% to Renaissance and 99% to the Limited Partners.  To the
   extent that allocation of losses create a negative capital balance in either
   the Managing General Partner's or the Limited Partners' capital accounts,
   losses shall be allocated as described herein until such capital account is
   $0.  The remaining loss is allocated to the capital account with a positive
   capital balance.

5. Investments

   Investments of the Partnership are carried in the statements of assets,
   liabilities and partners' equity at quoted market or fair value, as
   determined in good faith by the Managing General Partner and approved by the
   Independent General Partners.

   For securities that are publicly traded and for which quotations are
   available, the Partnership will value the investments based on the closing
   sale as of the last day of the fiscal quarter, or in the event of an interim
   valuation, as of the date of the valuation.  If no sale is reported on such
   date, the securities will be valued at the average of the closing bid and
   asked prices.

   Generally, debt securities will be valued at their face value.  However, if
   the debt is impaired, an appropriate valuation reserve will be established
   or the investment discounted to estimated realizable value. Conversely, if
   the underlying stock has appreciated in value and the conversion feature
   justifies a premium value, such premium will of necessity be recognized.

   The Managing General Partner, subject to the approval and supervision of the
   Independent General Partners, will be responsible for determining fair value.

   The financial statements include investments valued at $2,789,481 (74% of
   total assets) and $2,832,673 (82% of total assets) as of December 31, 1998
   and June 30, 1999, respectively, which values have been estimated by the
   Investment Advisor in the absence of readily ascertainable market values.
   Because of the inherent uncertainty of valuation, those estimated values
   may differ significantly from the values that would have been used had a
   ready market for the investments existed, and the differences could be
   material. <PAGE>
                RENAISSANCE CAPITAL PARTNERS, LTD.
            Notes to Financial Statements (Continued)
                          June 30, 1999

<TABLE>                                    <S>      <S>          <S>
                                                    CONVERSION
                                                        or
                                           COST     FACE VALUE   FAIR VALUE
                                        <C>          <C>          <C>
Feminique Corporation
Common Stock                            $1,688,657   $  769,435   $  700,630

Danzer Corporation
Common Stock                             2,678,479      996,124      929,043
Note                                        25,000       25,000       25,000

Lion's Gate Entertainment Corp.
Common Stock                               733,313      141,680      140,261

Next Generation Media Corp.
Preferred Stock                            775,485      775,485         -0-
Warrants                                       500          500         -0-
                                        ----------   ----------   ----------
Subtotal:                                5,901,434    2,708,224    1,794,934

OTHER INVESTMENTS

Sunrise Media, LLC
Equity Investment                        1,208,374    1,208,374      900,739
Promissory Notes                           237,000      237,000      137,000
                                        ----------   ----------   ----------
                                        $7,346,808   $4,153,598   $2,832,673
                                        ==========   ==========   ==========
<FN>
The fair value of debt securities convertible into common stock is the sum of
(a) the value of such securities without regard to the conversion feature, and
(b) the value, if any, of the conversion feature.  The fair value of debt
securities without regard to conversion features is determined on the basis of
the terms of the debt security, the interest yield and the financial condition
of the issuer.  The fair value of the conversion features of a security, if any,
are based on fair values as of this date less an allowance, as appropriate, for
costs of registration, if any, and selling expenses.  Publicly traded
securities, or securities that are convertible into publicly traded securities
are valued at the last sale price, or at the average closing bid and asked
price, as of the valuation date.  While these valuations are believed to
represent fair value, these values do not necessarily reflect amounts which may
be ultimately realized upon disposition of such securities. </FN> </TABLE>
<PAGE>
                 RENAISSANCE CAPITAL PARTNERS, LTD.

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS

GENERAL

(1) Material Changes in Financial Condition

    During the quarter ended June 30, 1999, the Partnership's net loss from
operations was $511,629, and the total Partners' Equity account decreased by a
like amount.  This loss resulted from an unrealized loss on investments of
$435,551 and the Partnership's net investment loss of $35,455, as well as the
Partnership's $40,623 loss from its investment in Sunrise Media LLC.

    The following portfolio transactions are noted for the quarter ended June
30, 1999 (portfolio companies are herein referred to as the "Company"):

    Feminique Corporation  (FEMQ)  In the quarter ended June 30, 1999, the
Company changed its name from Biopharmaceutics, Inc. to Feminique Corporation.

    Danzer Corporation (aka Global Environmental Corp.)  (GLEN)  In the quarter
ended June 30, 1999, the Partnership agreed to advance up to $57,966 to the
Company on an "as needed" basis.  On April 21, 1999, the Partnership advanced
$25,000 pursuant to the agreement, which has been secured by a Promissory Note
bearing interest at 13%.  Interest payments are due August 15, 1999 and November
15, 1999, and all principal and unpaid interest is due in full on or before
December 31, 1999.  All advances made under the note have been made in concert
with an agreement (the "Mortgage") by the holders of a Master Note ("Holders")
between Duncan-Smith Trustee ("DST") and Danzer Industries, Inc. , the Company's
wholly owned and operating subsidiary ("DII"), in which Holders and DST agree to
defer receipt of the principal portion of quarterly payment due Holders and DST
from DII for the quarters ended February 15, 1999 and May 15, 1999, which
receipts in total equal $57,966.  Assuming that the amounts advanced by the
Company and DII pursuant to the Partnership's note equal the deferred principal
payments of Holders and DST, then as excess cash flow is available by the
Company and DII to repay the deferred principal on the Partnership's note, it
would be done on an equal basis.  In the event the Company and DII do not
utilize all the potential funding from the Partnership, then Holders and DST
would receive 100% of all excess cash flow until the deferred principal amounts
equal advances by the Partnership pursuant to the Partnership's Note, and
thereafter payment would be on an equal basis.

    Sunrise Media, LLC  (Private) At June 30, 1999, the Company was in default
on the $200,000 Promissory Note and the $10,000 Promissory Note, and subsequent
to June 30 the Company defaulted on the $27,000 Promissory Note.    All
principal and unpaid interest came due at April 15, 1999 on the $200,000 Note,
at April 16, 1999 on the $10,000 Note, and at July 1, 1999 on the $27,000 Note.
To date, the Partnership has not received any payments pursuant to any of its
obligations.

(2) Material Changes in Operations

    During the quarter ended June 30, 1999, the Partnership experienced a net
loss of $511,629.  This loss resulted from a net investment loss of $35,455, a
loss from the Partnership's investment in Sunrise Media LLC of $40,623 and an
unrealized loss on investments of $435,551.  Interest income has decreased
$2,859 for the three months ended June 30, 1999 when compared to the same period
last year.  General and administrative expenses decreased  to $27,752 for the
three month period ended June 30, 1999, primarily because of a decrease in legal
fees and travel expenses.

LIQUIDITY AND CAPITAL RESOURCES

    In addition to the proceeds raised in the Partnership's initial private
placement, the Partnership's historical sources of available capital for
investment have been interest income and transactional fees charged by the
Partnership with respect to the Portfolio Investments, director fees paid by
Portfolio Companies to the Partnership's director designees, and gains from
capital transactions.  Because the Partnership is liquidating, however,
historical sources of capital, including transactional and director fees, will
probably not be available, leaving gains from capital transactions and portfolio
turnover as the primary sources of capital. <PAGE>
    Over the last year or two, income received has primarily come from interest
income on Portfolio Convertible Debenture investments and upon the sale of
common stock.  In prior quarters, as investments were committed or closed,
income from closing fees and commitment fees were also recorded.  The
Partnership has converted, or, where appropriate,  is in the process of
converting, its remaining debt positions into equity securities of portfolio
companies.  Future income will primarily be dependent upon the sale of these
stocks or dividends received, when such are declared and paid by Portfolio
companies.  In addition, the Partnership is not actively considering additional
Portfolio Investments.  Therefore, no significant further income from closing
and commitment fees is anticipated.

    At June 30, 1999, the only debt securities held by the Partnership are the
notes held in Danzer Corporation and Sunrise Media, LLC.  The Danzer note
currently has a face value of $25,000 and at this writing Sunrise is in default
on all of its debt obligations.  The Preferred Stock in Next Generation Media
Corporation  has a dividend right, but might not generate consistent dividend
income, as it is unclear at this time whether the Company has enough cash flow
to satisfy the dividend obligation on a continuing basis.  The Managing General
Partner is uncertain whether any of these positions will provide the Partnership
with any interest or dividend income going forward.

    Because of the decrease in income and the additional follow-on investments
in portfolio companies, the Partnership's liquidity has been substantially
impaired.  Accordingly, the Partnership has reduced its rate of distributions
and has deferred payment of management fees owed to the Managing General
Partner.  Until such time as liquidity is improved from either sale of
investments or loan repayments, it is anticipated that distributions to Limited
partners will be reduced or even curtailed.  The Partnership's ability to
improve liquidity and make regular distributions will depend upon the
Partnership's success in realizing a return of investment cost and the
realization of capital gains from sales of equity securities.

YEAR 2000

    Many computer software systems in use today cannot process date-related
information from and after January 1, 2000.  The Partnership's Managing General
Partner has taken steps to review and modify their computer systems as necessary
and are prepared for the Year 2000.  In addition, the Partnership has inquired
of its major service providers as well as its portfolio companies to determine
if they are in the process of reviewing their systems with the same goals.  The
majority of all providers and portfolio companies have represented that they are
either taking the necessary steps to be prepared or are currently prepared for
the Year 2000.  Should any of the computer systems employed by the major service
providers, or companies in which the Partnership has an investment, fail to
process this type of information properly, that could have a negative impact on
the Partnership's operations and the services provided to the Limited Partners.
It is anticipated that the Partnership will incur no material expenses related
to the Year 2000 issues.

                 RENAISSANCE CAPITAL PARTNERS, LTD.

                              SIGNATURES

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

                               RENAISSANCE CAPITAL PARTNERS, LTD.

                               By RENAISSANCE CAPITAL GROUP, INC.
                                      Managing General Partner

August 12, 1999                By              /S/
                                 ---------------------------------------
                                     Russell Cleveland, President

August 12, 1999                By              /S/
                                 ---------------------------------------
                                 Barbe Butschek, Chief Financial Officer
<PAGE>