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, 1998

[ ]  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.

                 Statement of Assets, Liabilities and
                          Partners' Equity 




    Assets                                December 31, 1997    June 30, 1998
                                                                 (unaudited)
                               
Cash and cash equivalents                    $   652,529        $ 1,041,229
Investment in Sunrise Media LLC                1,636,745          1,538,599
Investments at market value, cost
 of $6,683,825 and $5,658,903 at
 December 31, 1997 and June 30, 1998
 respectively                                  7,855,372          3,330,905
Interest and fees receivable                      35,957             32,642
Other assets                                     105,474                533
                                              ----------           --------
                                             $10,286,077         $5,943,908
                                              ==========           ========
   Liabilities and Partners' Equity 

Accounts payable - trade                     $    11,872         $      -0-
Accounts payable - related party                  60,833             40,728
                                               ---------          ---------
    Total liabilities                             72,705             40,728
                                               ---------          ---------
Partners' equity: 
  General partner                                  1,185                -0-
  Limited partners (128.86 units;
    128.36 units outstanding)                 10,212,187          5,903,180
                                              ----------          ---------

    Total partners' equity                    10,213,372          5,903,180
                                              ----------          ---------
                                             $10,286,077         $5,943,908
                                              ==========          =========
Limited partners' equity per
 limited partnership unit                   $     80,135         $   46,307
                                              ==========          =========


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

                          Statement of Operations

                                (Unaudited)
<TABLE>
<CAPTION>
                                            Three Months Ended June 30,     Six Months Ended June 30,                      
                                               1997            1998           1997            1998
<S>                                         <C>           <C>           <C>             <C>
Income:

    Interest                                $   49,002    $      7,397   $    89,481    $    19,869
    Dividends                                    1,430           5,943         2,314         13,030
    Other investment income                     15,129             -0-        16,467            -0-
                                             ---------      ----------    ----------       --------
      Total income                              65,561          13,340       108,262         32,899
                                             ---------      ----------    ----------       --------
Expenses:
    General and administrative                 204,010         70,052        299,958        140,804
    Management fees                             56,637         29,664        112,738         72,326
                                               -------      ----------     ---------       --------
      Total expenses                           260,647         99,716        412,696        213,130
                                               -------      ----------    ----------       --------
      Investment loss net                     (195,086)       (86,376)      (304,434)      (180,231)

    Loss from investment in 
     Sunrise Media LLC                         (86,040)       (58,593)      (143,084)      (108,146)

    Net realized gain(loss)
      on investments                               -0-       (483,571)     2,768,100       (483,570)

    Net unrealized gain(loss)
      on investments                           111,192     (1,957,934)    (3,241,001)    (3,499,544)
                                             ---------      ----------    ----------      ---------
    Loss resulting from operations        $   (169,934)   $(2,586,474)    $ (920,519)    $(4,271,491)
                                              =========    ===========     =========     =========== 

   Loss per limited partnership unit      $     (1,306)   $   (20,150)    $   (7,072)    $   (33,213)
                                              =========     ==========     =========      ===========
    

<FN>
See accompanying notes to financial statements.
</FN>
</TABLE>
<PAGE>







                     RENAISSANCE CAPITAL PARTNERS, LTD.

                       Statement of Partners' Equity




                                       General      Limited          
                                       Partner      Partners        Total
    

Balance, December 31, 1996         $    48,638    $12,141,944    $12,190,582

Net loss                                (9,205)      (911,314)      (920,519)

Liquidation of partners' interests         -0-            -0-            -0-
                                      --------      ---------      ---------

Balance, June 30, 1997             $    39,433    $11,230,630    $11,270,063
                                      ========     ==========     ========== 



Balance, December 31, 1997         $      1,185    $10,212,187   $10,213,372

Net loss (unaudited)                     (1,185)    (4,270,306)   (4,271,491)

Liquidation of partners'
 interests (unaudited)                      -0-        (38,701)      (38,701)
                                     ----------     ----------     ---------
Balance, June 30, 1998 (unaudited) $        -0-    $ 5,903,180   $ 5,903,180
                                     ==========     ==========    ===========













See accompanying notes to financial statements.
<PAGE>



                     RENAISSANCE CAPITAL PARTNERS, LTD.

                          Statement of Cash Flows

                                (Unaudited)
<TABLE>
<CAPTION>

                                                Three Months Ended June 30,     Six Months Ended June 30, 
                                                    1997            1998          1997            1998     
<S>                                               <C>          <C>             <C>            <C>
Cash flows from operating activities:
   Net loss resulting from operations             $(169,934)   $(2,586,474)    $ (920,519)    $(4,271,491)
                
   Adjustments to reconcile net loss to net
    cash flows used in operating activities:
       Loss from Sunrise Media LLC                   86,040          58,593       143,084         108,146
       Unrealized (gain) loss on investments       (111,194)      1,957,934     3,241,099       3,499,544
       Realized (gain) loss on investments              -0-         483,571    (2,768,100)        483,570
       (Increase) decrease in: 
         Accounts receivable                        (47,052)         16,024     (87,373)            3,315
         Other assets                                   -0-             533         -0-           104,941
       Increase (decrease) in:
         Accounts payable                            14,211        (108,759)   (763,831)          (31,977)
                                                    --------       --------    ---------         --------
       Net cash used in operating activities       (227,929)      (178,578)  (1,155,640)         (103,952)
                                                    --------      ---------   ---------         ---------
Cash flows from investing activities:
   Purchase of investments                          (200,000)       (10,000)    (636,697)         (89,000)
   Proceeds from sale of securities                     -0-         620,350    3,126,850          620,353
                                                    --------      ---------    ---------          -------
       Net cash provided by investing activities    (200,000)       610,350    2,490,153          531,353
                                                   ---------      ---------    ---------          -------
Cash flows from financing activities:
   Liquidation of partners interests                     -0-            -0-          -0-          (38,701)
                                                   ---------      ---------    ---------         --------
 Net increase (decrease) in cash                    (427,929)       431,772    1,334,513          388,700

Cash and cash equivalents at beginning of period   1,819,165        609,457       56,723          652,529
                                                  ----------       --------     ---------         -------
Cash and cash equivalents at end of period        $1,391,236     $1,041,229    $1,391,236      $1,041,229
                                                   =========      =========     =========       =========



<FN>
See accompanying notes to financial statements. 
</FN>
</TABLE>
<PAGE>



                   RENAISSANCE CAPITAL PARTNERS, LTD.

                      Notes to Financial Statements

                              June 30, 1998


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 in-
   vestments 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 invest-
   ments, but no later than June 14,  1998, subject to the right of the In-
   dependent General Partners to extend the term for up to three additional one-
   year periods if they determine that such extension is in the best interest of
   the Partnership.  The Independent General Partners have elected one such ex-
   tension period.  The Partnership has begun liquidation of its investments.

2. Summary of Significant Accounting Policies

  A. Organizational Costs - Costs of organizing the Partnership were capital-
     ized and amortized on a straight-line basis over five years.  These costs
     were completely amortized during the quarter ended June 30, 1995.

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

  C. 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.

  D. Valuation of Investments - The valuation of investments in debentures 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.

  E. 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.

  F. 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 $7,397, and none was determined to be
     uncollectible and charged against the income.

  G. 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 informa-
     tion 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.
<PAGE>
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 gen-
   erally 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.

4. Management

  Renaissance Capital Group, Inc. (Renaissance), the Managing General Partner,
  serves as the investment adviser for the Partnership.  Renaissance is regis-
  tered as an investment advisor under the Investment Advisors Act of 1940.
  Pursuant to the management agreement, Renaissance will perform certain serv-
  ices, including certain management, investment, and administrative services,
  necessary for the operation of the Partnership.

  Renaissance is entitled to quarterly fees equal to 0.5% of the Partnership
  assets at the end of each quarter.  On April 21, 1994, at the Annual Meeting
  of Limited Partners, a proposal to amend the Advisory Agreement was ratified
  by the Limited Partners.  The agreement now dictates that to the extent any
  portion of such fee is based on an increase in Net Assets Value attributable
  to non-realized appreciation of securities or other assets that exceed capi-
  tal contributions, such portion of the fee shall be deferred and not earned
  or payable until such time as appreciation or any portion thereof is in fact
  realized and then such deferred fees shall be earned and paid in proportion
  to the gains in fact realized.  Fees due to Renaissance for the three months
  ended June 30, 1998, were $29,664. 

  Renaissance is reimbursed by the Partnership for administrative expenses
  paid by Renaissance on behalf of the Partnership.  For the three months ended
  June 30, 1998, the Partnership incurred reimbursable expenses of  $11,328 and
  reimbursed Renaissance $125,885 to be applied to the management fees and reim-
  bursable expenses.

  In addition, the Partnership is served by two independent, individual general
  partners (the "Independent General Partners").  The Independent General Part-
  ners receive a quarterly fee of $6,000 each, payable in advance.

5. 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.

6. Investments

  Investments of the Partnership are carried in the statements of assets,
  liabilities and partners' equity at quoted market or fair value, as deter-
  mined 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 avail-
  able, 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 val-
  uation, 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.

<PAGE>

                    RENAISSANCE CAPITAL PARTNERS, LTD.

                 Notes to Financial Statements (Continued)

                               June 30, 1998


6. Investments (continued)
   
   The financial statements include investments valued at $7,855,372 (77% of
   total assets) and $3,330,905 (56% of total assets) as of December 31, 1997
   and June 30, 1998, respectively, whose 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.


                                               CONVERSION
                                                    or                     
                                         COST     FACE VALUE    FAIR VALUE
Biopharmaceutics, Inc.                                           
Common Stock                          $1,488,657  $1,504,835    $1,489,786

Danzer Corporation                                               
Common Stock                           2,510,948   1,568,840     1,424,710
Note                                     150,000     150,000       150,000

Lion's Gate Entertainment Corp.                                  
Common Stock                             733,313     269,100       266,409

Next Generation Media Corp.                                      
Preferred Stock                          775,485      775,485          -0-
Warrants                                     500          500          -0-
                                        --------    ---------    ---------
Subtotal:                              5,658,903    4,268,760    3,330,905

OTHER INVESTMENTS

Sunrise Media, LLC
Formerly CEL                           1,538,599    1,538,599    1,538,599

                                      $7,197,502   $5,807,359   $4,869,504
                                       =========    =========    =========

  The Partnership advanced $10,000 to Sunrise Media, LLC under terms of a note
  during the current quarter.                   

7. Related Party Transactions

   Certain officers of Renaissance are also limited partners in the Partnership.
   There were no distributions for the three months ended June 30, 1998.

<PAGE>
                   RENAISSANCE CAPITAL PARTNERS, LTD.

               Notes to Financial Statements (Continued)

                             June 30, 1998




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

(1)  Material Changes in Financial Condition

     During the quarter ended June 30, 1998, the Partnership's net assets
resulting from operations decreased $2,586,474, and the total Partners' Equity
account decreased by a like amount.  The decrease in the total Partners' Equity
account is primarily attributable to a decrease in the market value of the com-
mon stock of Biopharmaceutics, Inc., together with a reserve placed on the
Partnership's investment in Next Generation Media Corporation.

     The following Portfolio transactions are noted for the quarter ended June
30, 1998 (portfolio companies are herein referred to as the "Company"):

     Lion's Gate Entertainment Corp. (formerly International Movie Group). 
According to the Plan of Reorganization for International Movie Group ("IMG"),
the Partnership agreed to convert its entire position in IMG into 398,875
shares ofIMG common stock.  In June 1998, the Company effected a 10,000 for 1
reverse split, reducing the Partnership's position to 39.8875 shares of IMG
common stock.  Effective June 30, 1998, IMG merged with Lion's Gate Entertain-
ment Corp.  Pursuant to the Agreement of Merger, the Partnership received 3,750
shares of Lion's Gate common stock for each whole share of IMG common stock,
giving the Partnership 146,250 shares of Lion's Gate common.  For its fractional
interest, the Partnership received $8,254, which represents $.93 per share on a
pre-reverse split basis.

     According to the Notice of Reverse Stock Split, Merger and Appraisal
Rights and Information Circular provided by the Company, the reverse split
and merger are "reorganizations" under the Internal Revenue Code, thereby
allowing them to qualify as tax-free events.  The Partnership's receipt of
cash in lieu of fractional shares, however, is a taxable event requiring the
Partnership to recognize its loss on that portion of the transaction. 

     Next Generation Media Corporation.  Effective May 1, 1998, the Partnership
sold its entire position in Unico, Inc., consisting of a 9.25% $50,000 Note
Receivable, $224,000 of 10% Notes Receivable, and Series C Preferred Stock
having a cost basis of $1,589,220, to Next Generation Media Corporation
("NEXGEN") in exchange for $62,039 in cash, 155,097 shares of NEXGEN Series A
Preferred Stock having a liquidation preference of $5.00 per share, and 103,398
warrants to purchase NEXGEN common stock for $.16 per share.  The Series A
Preferred is redeemable at $5.00 per share for the first six months following
the closing and then increases to $6.00 per share thereafter.  In addition, the
Series A Preferred, at the option of the holder, must be redeemed by NEXGEN for
no less than 50% of all funds raised in any offering made by the Company after
the initial closing, until all Series A Preferred shares are redeemed.  Accord-
ing to the Partnership's auditors, the NEXGEN transaction represents a taxable
event.
<PAGE>

                   RENAISSANCE CAPITAL PARTNERS, LTD.

               Notes to Financial Statements (Continued)

                             June 30, 1998


     Contrary to the Partnership's 10-Q filing of March 31, 1998, NEXGEN has
not closed on its purchase of United Marketing Solutions, Inc. from Unico, Inc.
A definitive agreement has been signed, and a closing is anticipated sometime
in 1998.  In the second quarter of 1998, the Partnership reserved its entire
investment in NEXGEN.

     SanTi Group, Inc.  (formerly Microlytics, Inc.).  In the second quarter of
1998, SanTi Group, Inc. was merged into Microlytics, Inc. (a former portfolio
holding of the Partnership which was written off in the fourth quarter of 1996),
and the Company name was officially changed to SanTi Group, Inc.  The merger
allowed the Company to complete its Plan of Reorganization and formally emerge
from bankruptcy.  As part of the Plan of Reorganization, the Partnership agreed
to convert its entire investment in Microlytics into 46,655 shares of SanTi
common stock, and 23,328 warrants to purchase shares of SanTi common stock.
In June 1998, the Partnership sold all of its common stock for $12 per share,
resulting in a gain of $559,860, and all of its warrants for $1 each, resulting
in a gain to the Partnership of $23,328.           
     
     Sunrise Media, LLC.  On April 16, 1998, the Partnership advanced the Com-
pany $10,000 to fund corporate capital needs pursuant to a 7% secured Promis-
sory Note with all principal and interest payable in full on or before April
16, 1999.  Subsequent to the quarter ended June 30, 1998, the Partnership ad-
vanced an additional $27,000 to the Company so that it could complete a promo-
tional video for the sale of the Video Encyclopedia of the Twentieth Century
("VETC") to the television marketplace, and to pay for an expansion of its mar-
keting effort of the VETC.   The $27,000 advance was made pursuant to a 7%
secured Promissory Note with all principal and interest payable in full on or
before July 1, 1999.

(2) Material Changes in Operations

     During the quarter ended June 30, 1998, the Partnership experienced a net
loss of $2,586,474.  Interest income has decreased $41,605 for the three
months ended June 30, 1998, when compared to the same period last year.  General
and administrative expenses decreased to  $70,052 for the three-month period
ended June 30, 1998, primarily because of a decrease in legal fees.

     In the past, income received was primarily from interest income on Port-
folio 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 is in the process of converting, its remaining debentures into equity secur-
ities 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 consider-
ing additional Portfolio Investments.  Therefore, no significant further income
from closing and commitment fees is anticipated.

     At June 30, 1998, the only debt securities held by the Partnership are the
Notes held in Danzer Corporation and Sunrise Media, LLC.  The Preferred Stock
in NEXGEN has a dividend right, but might not generate consistent dividend
income, as it is unclear at this time whether the Company has enough free cash
flow to satisfy the dividend obligation on a continuing basis.  Moreover,
Danzer and Sunrise are currently in arrears on their debts to the Partnership.
Accordingly, the Managing General Partner is uncertain whether any of these
positions will provide the Partnership with any significant interest or divi-
dend income going forward.

<PAGE>
                      PART II - OTHER INFORMATION

                               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 20, 1998                 By    /s/ Russell Cleveland
                                  --------------------------------
                                    Russell Cleveland, President 


                                    
August 20, 1998                 By  /s/ Barbe Butschek
                                  --------------------------------
                                  Barbe Butschek, Chief Financial Officer