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 March 31, 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>
<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  March 31, 1999
                                                                (Unaudited) 
                                              <C>               <C>
Cash and cash equivalents                     $   924,786       $   643,630   
Investment in Sunrise Media LLC                 1,152,674         1,078,362   
Investments at market value, cost of 
 $5,658,903 and $5,858,903 at December
 31, 1998 and March 31, 1999 
 respectively                                   1,636,807         2,187,954   
Interest and fees receivable                       28,093            35,759 
Other assets                                        2,594             1,639   
                                               ----------        ----------
                                               $3,744,954        $3,947,344   
                                               ==========        ==========
   Liabilities and Partners' Equity 

Accounts payable - trade                       $    9,201        $    1,000   
Accounts payable - related party                   49,473            22,595   
                                               ----------        ----------
    Total liabilities                              58,674            23,595   
                                               ----------        ----------
Partners' equity: 
  General partner                                     -0-               -0-   
  Limited partners: 128.36 units outstanding    3,686,280         3,923,749   
                                               ----------        ----------
    Total partners' equity                      3,686,280         3,923,749   
                                               ----------        ----------  
                                               $3,744,954        $3,947,344   
                                               ==========        ==========
Limited partners' equity per limited 
 partnership unit                              $   28,718        $   30,568   
                                               ==========        ==========
<FN>
See accompanying notes to financial statements.</FN> </TABLE> <PAGE>
<PAGE>
              RENAISSANCE CAPITAL PARTNERS, LTD.

                  Statements of Operations

                        (Unaudited)
<TABLE>                                       <S>           
                                              Three Months Ended March  31, 
                                                    1998         1999   
Income:  
                                               <C>            <C>
 Interest                                      $    12,472    $   7,430        
 Dividends                                           7,087        4,769     
 Other investment income                               -0-          -0-       
                                               -----------    ---------
   Total income                                     19,559       12,199     
                                               -----------    ---------
Expenses:
 General and administrative                         70,752       31,847      
 Management fees                                    42,662       19,717      
                                               -----------    ---------
   Total expenses                                  113,414       51,564     
                                               -----------    ---------
   Investment loss net                             (93,855)     (39,365)    

   Loss from investment in 
    Sunrise Media LLC                              (49,553)     (74,313)    
    
   Net realized gain (loss)
    on investments                                     -0-          -0-       

   Net unrealized gain (loss)
    on investments                              (1,541,609)     351,147     
                                               -----------     --------
   Net income (loss) resulting from 
    operations                                 $(1,685,017)    $237,469     
                                               ===========     ========
   Net income (loss) per limited
    partnership unit                           $   (12,996)    $  1,850     
                                               ===========     ========     
   Weighted average limited
    partnership units                               128.86       128.36     
                                                    ======       ======
<FN>
See accompanying notes to financial statements. </FN> </TABLE> <PAGE>
<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-        237,469        237,469
                                      -----     ----------     ----------
Balance, March 31, 1999-(unaudited)   $ -0-     $3,923,749     $3,923,749
<FN>
See accompanying notes to financial statements. </FN> </TABLE> <PAGE>
<PAGE>
             RENAISSANCE CAPITAL PARTNERS, LTD.

                  Statement of Cash Flows

                        (Unaudited)
<TABLE>                                         <S>
                                                Three Months Ended March 31, 
                                                     1998            1999     
                                                 <C>               <C>
Cash flows from operating activities:
   Net income (loss)                             $(1,685,017)      $237,469
   
   Adjustments to reconcile net income (loss) 
    to net cash used in operating activities:
     Loss from Sunrise Media LLC                      49,553         74,313
     Unrealized (gain) loss on investments         1,541,609       (351,147) 
     (Increase) decrease in: 
       Accounts receivable                           (12,709)        (7,666)
       Other assets                                  104,408            955
     Increase (decrease) in:
       Accounts payable                               76,782        (35,080)
                                                 -----------       --------
     Net cash flows from operating activities         74,626        (81,156)
                                                 -----------       --------
Cash flows from investing activities:
   Purchase of investments                           (79,000)      (200,000)
   Proceeds from sale of securities                      -0-            -0-
                                                 -----------       --------
     Net cash used by investing activities           (79,000)      (200,000)
                                                 -----------       --------
Cash flows from financing activities:
   Liquidation of partners interests                 (38,698)           -0-
                                                 -----------       --------
Net increase (decrease) in cash                      (43,072)      (281,156)

Cash and cash equivalents at beginning of 
 period                                              652,529        924,786
                                                 -----------       --------
Cash and cash equivalents at end of period       $   609,457       $643,630
                                                 ===========       ========
<FN>
See accompanying notes to financial statements. </FN> </TABLE> <PAGE>
<PAGE>
           RENAISSANCE CAPITAL PARTNERS, LTD.
             Notes to Financial Statements
                     March 31, 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,  1999, subject to the right of the Independent 
   General Partners to extend the term for up to two additional one-year periods
   if they determine that such extension is in the best interest of the 
   Partnership.  The Independent General Partners have already elected to 
   exercise one 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 $7,430, and none was determined to be
      uncollectible and charged against the income.  At March 31, 1999, two
      companies had debt obligations to the Partnership:  Danzer Corporation 
      owed $150,000 pursuant to a 10% Promissory Note and Sunrise Media LLC owed
      $237,000 to the Partnership pursuant to three separate Promissory Notes.
      The Danzer note was converted to common stock subsequent to March 31, 
      1999, and Sunrise was in default on $210,000 of its debt obligations to 
      the Partnership.  Due to the problems present at Sunrise, the Partnership
      may not accrue any interest income going forward.

   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
<PAGE>
           RENAISSANCE CAPITAL PARTNERS, LTD.
       Notes to Financial Statements (Continued)
                     March 31, 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 $3,266,316 (83% of total assets) as of December 31, 1998 
   and March 31, 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
<PAGE>
           RENAISSANCE CAPITAL PARTNERS, LTD.
       Notes to Financial Statements (Continued)
                     March 31, 1999

<TABLE>                                    <S>       <S>           <S>
                                                     CONVERSION
                                                         or        
                                           COST      FACE VALUE    FAIR VALUE
                                        <C>          <C>            <C>    
Biopharmaceutics, Inc.
Common Stock                            $1,688,657   $ 1,000,265    $ 925,817

Danzer Corporation                                                  
Common Stock                             2,510,948       853,722      845,185
Note                                       150,000       150,000      150,000

Lion's Gate Entertainment Corp.                                            
Common Stock                               733,313       269,648      266,952

Next Generation Media Corp.                                   
Preferred Stock                            775,485       775,485          -0-
Warrants                                       500           500          -0-
                                        ----------    ----------   ----------
Subtotal:                                5,858,903     3,049,620    2,187,954

OTHER INVESTMENTS

Sunrise Media, LLC
Equity Investment                        1,248,997     1,248,997      941,362
Promissory Notes                           237,000       237,000      137,000
                                        ----------    ----------   ----------
                                        $7,344,900    $4,535,617   $3,266,316
                                        ==========    ==========   ==========
<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
<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 March 31, 1999, the Partnership's net  income from
operations was $237,469, and the total Partners' Equity account increased by a 
like amount.  This gain resulted from an unrealized gain on investments of 
$351,147 which exceeded the Partnership's net investment loss of $39,365, as 
well as the Partnership's $74,313 loss from its investment in Sunrise Media LLC.
The increase  in the total Partners' Equity account is primarily attributable to
an increase in the market value of the common stock of Biopharmaceutics.

     The following portfolio transactions are noted for the quarter ended March
31, 1999 (portfolio companies are herein referred to as the "Company"):

     Biopharmaceutics, Inc.  (BOPM)  In February, 1999, the Partnership invested
an additional $200,000 into shares of the Company's common stock at a price of 
$0.18 per share.  The additional investment was part of a $1,000,000 equity 
private placement by the Company, and will be used as working capital to support
the Company's remaining product line in the feminine hygiene area.  The stock is
restricted from transfer pursuant to Rule 144 of the Securities Exchange Act of 
1934.

     Danzer Corporation (aka Global Environmental Corp.)  (GLEN) In the first
quarter, the Partnership agreed to convert the entire principal balance of its
$150,000 Promissory Note, together with $17,531.78 in accrued and unpaid 
interest owed by the Company pursuant to the note into the Company's common 
stock at $0.10 per share, which will give the Partnership a total ownership of 
11,719,110 shares.  Following the debt conversion, the Partnership will own over
65% of the Company's outstanding common stock.  

     Subsequent to March 31, 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 $57,966 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.

    Contrary to statements made in the Partnership's 10-K Filing for the period
ended December 31, 1998, the $57,966 promissory note is not secured by the 
assets of the Company.

    Sunrise Media, LLC  (Private) At March 31, 1999, the Company was in default
on the $200,000 Promissory Note and the $10,000 Promissory Note.  All principal 
and unpaid interest came due at April 15, 1999 on the $200,000 Note and at April
16, 1999 on the $10,000 Note.  To date, the Partnership has not received any 
payments pursuant to either obligation.  

(2) Material Changes in Operations

    During the quarter ended March 31, 1999, the Partnership experienced a net
gain of $237,469.  This gain resulted from a net investment loss of $39,365, a 
loss from the Partnership's investment in Sunrise Media LLC of $74,313 and an 
unrealized gain on investments of $351,147.  Interest income has decreased 
$5,042 for the three months ended March 31, 1999 when compared to the same 
period last year.  General and administrative expenses decreased  to $51,564 
for the three month period <PAGE>
ended March 31, 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.  

    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 March 31, 1999, the only debt securities held by the Partnership are the
notes held in Danzer Corporation and Sunrise Media, LLC.  The Danzer note was
converted to common stock at $0.10 per share subsequent to March 31, 1999, and 
Sunrise was in default on $210,000 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.
<PAGE>
<PAGE>
          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 


May 13, 1999               By                   /S/
                              ________________________________________________
                                       Russell Cleveland, President 

May 13, 1999               By                   /S/
                              ________________________________________________
                                  Barbe Butschek, Chief Financial Officer