UNITED STATES

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-Q

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

                 For the quarterly period ended June 30, 2000

                                       OR

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

                       (Commission File Number 333-40495)

                               ICG FUNDING, LLC
            (Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction     84-1434980 (I.R.S. Employer
of organization)                          Identification No.)


                            161 Inverness Drive West

                            Englewood, Colorado 80112

                        (888) 424-1144 or (303) 414-5000

 (Address of principal executive offices and registrant's telephone numbers,
                            including area codes)


      ICG Funding,  LLC has no securities  registered pursuant to Sections 12(b)
or 12(g) of the Act.

     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

      All of the issued and outstanding  common  securities of ICG Funding,  LLC
are owned by ICG Communications, Inc.
<PAGE>

                                TABLE OF CONTENTS

PART I ..................................................................     3
      ITEM 1.  FINANCIAL STATEMENTS .....................................     3
               Balance Sheets as of December 31, 1999 and June 30, 2000
                (unaudited)..............................................     3
               Statements of Operations for the Three Months and Six Months
                Ended June 30, 1999 and 2000 (unaudited).................     4
               Statement of Member's Equity  (Deficit) for the Six Months
                Ended June 30, 2000 (unaudited)..........................     5
               Statements of Cash Flows  for the Six Months Ended June 30,
                1999 and 2000 (unaudited)................................     6
               Notes to Financial Statements (unaudited).................     7

      ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
                CONDITION AND RESULTS OF OPERATIONS .....................     8
      ITEM 3.   QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT
                MARKET RISK..............................................    12
PART II .................................................................    13
      ITEM 1.   LEGAL PROCEEDINGS .......................................    13
      ITEM 2.   CHANGES IN SECURITIES AND USE OF PROCEEDS ...............    13
      ITEM 3.   DEFAULTS UPON SENIOR SECURITIES .........................    13
      ITEM 4.   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS .....    13
      ITEM 5.   OTHER INFORMATION .......................................    13
      ITEM 6.   EXHIBIT AND REPORT ON FORM 8-K ..........................    13
                Exhibit  ................................................    13
                Report on Form 8-K ......................................    13


                                       2


<PAGE>


                                ICG FUNDING, LLC

                                 Balance Sheets

               December 31, 1999 and June 30, 2000 (unaudited)

<TABLE>
<CAPTION>

                                                        December 31,   June 30,
                                                           1999           2000
                                                      -------------  -----------
                                                            (in thousands)

<S>                                                   <C>               <C>
Assets

Current assets:

  Dividends receivable                                $       927           956
  Restricted cash                                           8,697         4,410
                                                      -------------  -----------

     Total current assets                                   9,624         5,366
                                                      -------------  -----------

Investment in ICG Communications Preferred Stock          124,661       128,399
                                                      -------------  -----------

     Total assets                                      $  134,285       133,765
                                                      =============  ===========

Liabilities and Member's Equity (Deficit)

Current liability - dividends payable                  $    1,116         1,116

Due to ICG Communications                                   4,699         4,699
                                                      -------------  -----------

     Total liabilities                                      5,815         5,815
                                                      -------------  -----------

Redeemable preferred securities ($133.4 million
   liquidation value at December 31, 1999 and  June
   30, 2000)                                              128,428       128,621

Member's equity (deficit):
   Additional paid-in capital                               3,385         3,385
   Accumulated deficit                                     (3,343)       (4,056)
                                                      -------------  -----------
     Total member's equity (deficit)                           42          (671)
                                                      -------------  -----------

Commitments and contingencies

     Total liabilities and member's equity (deficit)   $  134,285       133,765
                                                      =============  ===========
</TABLE>

               See accompanying notes to financial statements.

                                       3
<PAGE>


                                ICG FUNDING, LLC

                            Statements of Operations

     Three Months and Six Months Ended June 30, 1999 and 2000 (unaudited)

<TABLE>
<CAPTION>

                                       Three months ended         Six months ended
                                            June 30,                  June 30,
                                    ------------------------    -------------------------
                                       1999          2000           1999         2000
                                    ------------  ------------ ------------   ------------
                                                      (in thousands)
<S>                                 <C>             <C>           <C>          <C>
Interest income                     $      193          74           414          177
Dividend income                          1,788       1,897         3,550        3,766
                                    -------------- ------------- ------------ ------------
     Net income                          1,981       1,971         3,964        3,943
                                    -------------- ------------- ------------ ------------

Preferred dividends on redeemable
   preferred securities, including
   accretion of offering costs          (2,329)     (2,329)       (4,656)      (4,656)
                                    -------------- ------------- ------------ ------------

        Net loss available to
           common member            $     (348)       (358)         (692)        (713)
                                    ============== ============= ============ ============
</TABLE>

               See accompanying notes to financial statements.

                                       4
<PAGE>


                                ICG FUNDING, LLC

                     Statement of Member's Equity (Deficit)

                  Six Months Ended June 30, 2000 (unaudited)

<TABLE>
<CAPTION>
                                                                                  Total
                                                Additional                       member's
                                                  paid-in       Accumulated      equity
                                                  capital        deficit        (deficit)
                                                -----------  ------------       -------------
                                                            (in thousands)

<S>                                             <C>              <C>             <C>
Balances at January 1, 2000                     $    3,385       (3,343)             42
  Net income                                             -        3,943           3,943
  Preferred dividends on redeemable preferred
   securities, including accretion of offering
   costs                                                 -       (4,656)         (4,656)
                                                 -----------  ------------    -------------
Balances at June 30, 2000                       $    3,385       (4,056)           (671)
                                                ===========  ============     =============
</TABLE>

                  See accompanying notes to financial statements.


                                      5
<PAGE>


                                ICG FUNDING, LLC

                            Statements of Cash Flows

             Six Months Ended June 30, 1999 and 2000 (unaudited)

<TABLE>
<CAPTION>
                                                          Six months ended
                                                              June 30,
                                                   -----------------------------
                                                        1999            2000
                                                   --------------- -------------
                                                            (in thousands)
<S>                                                  <C>                <C>
Cash flows from operating activities:                $   3,964           3,943
   Net income
   Adjustment to reconcile net income
     to net cash provided by operating
     activities:
       Noncash preferred dividends earned on ICG
         Preferred Stock                                (3,550)         (3,766)
                                                     -------------  ------------
            Net cash provided by operating
              activities                                   414             177
                                                     -------------  ------------

Cash flows from investing activities:
   Decrease in restricted cash                           4,050           4,287
                                                     -------------  ------------
     Net cash provided by investing activities           4,050           4,287
                                                     -------------  ------------

Cash flows from financing activities:
   Payment of preferred dividends on redeemable
     preferred securities                               (4,464)         (4,464)
                                                     -------------  ------------
       Net cash used in financing activities            (4,464)         (4,464)
                                                     -------------  ------------
Cash and cash equivalents at December 31, 1999 and
   June 30, 2000                                     $      -             -
                                                     =============  ============
</TABLE>

               See accompanying notes to financial statements.


                                      6
<PAGE>


                                ICG FUNDING, LLC

                          Notes to Financial Statements

               December 31, 1999 and June 30, 2000 (unaudited)

 (1)  Organization and Nature of Business

      ICG Funding,  LLC, a Delaware limited  liability  company (the "Company"),
      was formed on September 17, 1997 as a special  purpose  limited  liability
      company  existing for the  exclusive  purposes of: (i) issuing  common and
      preferred  interests  in the  Company;  (ii) using at least 85% of the net
      proceeds of such  issuances and related  capital  contributions  (the "Net
      Proceeds") to purchase  shares of preferred  stock of ICG  Communications,
      Inc.  ("ICG") ("ICG Preferred  Stock") in a private  placement;  and (iii)
      investing  a  portion  of the  remaining  Net  Proceeds  in U.S.  Treasury
      securities,  to be held in escrow in an amount sufficient to fund the cash
      payments  of the  first  thirteen  quarterly  dividends  on the  Company's
      preferred  interests  (the  "Redeemable  Preferred  Securities").   Unless
      previously dissolved,  the Company's term will continue until December 31,
      2050.

      ICG is the sole common member of the Company.  The business and affairs of
      the  Company  are  conducted  by ICG and  ICG  pays  all of the  Company's
      administrative expenses, which are insignificant.

 (2)  Significant Accounting Policies

      (a) Basis of Presentation

          These  financial  statements  should be read in  conjunction  with the
          Company's  Annual Report on Form 10-K for the year ended  December 31,
          1999, as certain information and note disclosures normally included in
          financial  statements  prepared in accordance with generally  accepted
          accounting  principles have been condensed or omitted  pursuant to the
          rules and  regulations  of the United States  Securities  and Exchange
          Commission.  The interim financial  statements reflect all adjustments
          which  are,  in  the  opinion  of  management,  necessary  for a  fair
          presentation  of financial  position,  results of operations  and cash
          flows as of and for the interim periods  presented.  Such  adjustments
          are of a normal recurring nature. Operating results for the six months
          ended June 30, 2000 are not necessarily indicative of the results that
          may be expected for the year ending December 31, 2000.


                                       7
<PAGE>


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

      The following discussion includes certain  forward-looking  statements and
information  that is based on the beliefs of management  as well as  assumptions
made by and information  currently  available to the Company.  When used in this
document, the words "anticipate", "believe", "estimate" and "expect" and similar
expressions,  as they relate to the Company or its  management,  are intended to
identify forward-looking  statements.  Such statements reflect the current views
of the Company with respect to future  events and are subject to certain  risks,
uncertainties   and   assumptions.   Should  one  or  more  of  these  risks  or
uncertainties  materialize,  or should  underlying  assumptions prove incorrect,
actual results may vary materially from those described in this document.  These
forward-looking statements are affected by important factors, including, but not
limited  to,  market  conditions  affecting  the  price  of  ICG  Common  Stock,
redemption of the  Redeemable  Preferred  Securities  by ICG,  exchange into ICG
Common Stock by the Redeemable  Preferred  Securityholders,  the declaration and
payment of  preferred  stock  dividends to the Company by ICG and the ability of
ICG to pay the administrative  expenses of the Company,  that could cause actual
results to differ materially from the  forward-looking  statements.  The results
for the three and six months ended June 30, 1999 and 2000 have been derived from
the Company's unaudited financial statements included elsewhere herein.

Company Overview and Description of Significant Transactions

      The Company was formed on September 17, 1997 as a special  purpose limited
liability company existing for the exclusive purposes of: (i) issuing common and
preferred interests in the Company;  (ii) using at least 85% of the Net Proceeds
of such  issuances  and related  capital  contributions  to  purchase  shares of
preferred stock of ICG ("ICG  Preferred  Stock") in a private  placement;  (iii)
investing a portion of the remaining net proceeds in U.S.  Treasury  securities,
to be held in escrow in an amount  sufficient  to fund the cash  payments of the
first  thirteen  quarterly  dividends  on  the  Company's  Redeemable  Preferred
Securities and (iv) purchasing U.S. Treasury  Securities pending the purchase of
shares of ICG Preferred Stock.

      On  September  24 and  October 3, 1997,  the  Company  completed a private
placement of 6 3/4% Exchangeable  Limited Liability Company Preferred Securities
Mandatorily  Redeemable 2009 (the "Redeemable  Preferred  Securities") for gross
proceeds of $132.25  million.  Net proceeds  from the private  placement,  after
offering costs of approximately $4.7 million advanced by ICG, were approximately
$127.6 million. Restricted cash at June 30, 2000 of $4.4 million consists of the
remaining  proceeds  from the private  placement  which are  designated  for the
payment  of  cash  dividends  on the  Redeemable  Preferred  Securities  through
November 15, 2000.

      The  Redeemable  Preferred  Securities  consist of 2,645,000  exchangeable
preferred  securities of the Company that bear a cumulative dividend at the rate
of 6 3/4% per annum. The dividend is paid quarterly in arrears each February 15,
May 15, August 15 and November 15, and commenced November 15, 1997. The dividend
is payable in cash through November 15, 2000 and, thereafter,  in cash or shares
of common stock of ICG, $0.01 par value ("ICG Common  Stock"),  at the option of
the Company. The Redeemable Preferred Securities are exchangeable, at the option
of the holder,  at any time prior to November 15, 2009 into shares of ICG Common
Stock at a rate of 2.0812 shares of ICG Common Stock per preferred security,  or
$24.025 per share, subject to adjustment. The Company may, at its option, redeem
the Redeemable  Preferred  Securities at any time on or after November 18, 2000.

                                       8
<PAGE>

Prior to that time, the Company may redeem the Redeemable  Preferred  Securities
if the current  market  value of ICG Common Stock equals or exceeds the exchange
price  by 150% for at least 20 days of any  consecutive  30-day  trading  period
through  November 15, 2000. The Redeemable  Preferred  Securities are subject to
mandatory redemption on November 15, 2009.

      On February 13, 1998,  ICG made a  contribution  of 126,750  shares of ICG
Common  Stock to the  Company.  Immediately  thereafter,  the  Company  sold the
contributed shares to unrelated third parties for proceeds of approximately $3.4
million.  The  Company  recorded  the  contribution  of the ICG Common  Stock as
additional paid-in capital at the then fair market value and,  consequently,  no
gain or loss was recorded by the Company on the subsequent sale of those shares.

      Also, on February 13, 1998,  the Company used the remaining  proceeds from
the private  placement of the Redeemable  Preferred  Securities,  which were not
restricted for the payment of cash  dividends,  along with the proceeds from the
sale of the  contributed  ICG  Common  Stock to  purchase  approximately  $112.4
million of ICG Preferred  Stock which pays  dividends  each February 15, May 15,
August 15 and November 15 in additional  shares of ICG  Preferred  Stock through
November  15,  2000.  Subsequent  to November  15,  2000,  dividends  on the ICG
Preferred Stock are payable in cash or shares of ICG Common Stock, at the option
of ICG. The ICG Preferred Stock is  exchangeable,  at the option of the Company,
at any time prior to November  15,  2009 into  shares of ICG Common  Stock at an
exchange rate based on the exchange rate of the Redeemable Preferred Securities.
The ICG Preferred Stock is subject to mandatory redemption on November 15, 2009.

Results of Operations

      The following  table  provides the  components of the Company's net income
and net loss available to common member for each of the periods presented.

<TABLE>
<CAPTION>
                                                Three months ended      Six months ended
                                                    June 30,                June 30,
                                               ---------------------  ---------------------
                                                 1999      2000           1999     2000
                                               --------  ---------    ---------  ----------
                                                              (in thousands)

<S>                                              <C>          <C>           <C>      <C>
Statement of Operations Data:
Interest income                                  $  193       74            414      177
Dividend income                                   1,788    1,897          3,550    3,766
                                                  ------  -------        ------- ---------
  Net income                                      1,981    1,971          3,964    3,943
Preferred dividends on redeemable                 ------  -------        ------- ---------
  preferred securities, including
  accretion of offering costs                    (2,329)  (2,329)        (4,656)  (4,656)
                                                 -------  -------        ------- ---------
        Net loss available to common member      $ (348)    (358)          (692)    (713)
                                                 ========  =======       ========  =======
Other Data:
Net cash provided by operating activities        $  193        74           414      177
Net cash provided by investing activities         2,039     2,158         4,050    4,287
Net cash used in financing activities            (2,232)   (2,232)       (4,464)  (4,464)
</TABLE>

                                       9
<PAGE>

Three Months Ended June 30, 2000 Compared to Three Months Ended June 30, 1999

     Interest  income.  Interest income of $0.2 million and $0.1 million for the
three  months  ended June 30,  1999 and 2000,  respectively,  consists of income
earned on invested cash proceeds from the issuance of the  Redeemable  Preferred
Securities in September and October 1997. Interest income has decreased and will
continue to decrease each period  through  November 15, 2000 due to the decrease
in average  balances held in short-term  investments as restricted cash balances
are used to pay cash dividend payments on the Redeemable  Preferred  Securities.
On November 15, 2000, the Company's  restricted  cash balances will be depleted.

     Dividend  income.  Dividend income of $1.8 million and $1.9 million for the
three months ended June 30, 1999 and 2000,  respectively,  consists of preferred
dividends  earned on the ICG Preferred  Stock,  which  dividends  were paid with
additional shares of ICG Preferred Stock.

     Net income.  The  Company's  net income of $2.0  million for both the three
months  ended June 30, 1999 and 2000  consists of interest  income and  dividend
income, as noted above.

     Preferred dividends on redeemable preferred securities, including accretion
of offering  costs.  Preferred  dividends on  redeemable  preferred  securities,
including accretion of offering costs was $2.3 million for both the three months
ended  June 30,  1999  and  2000 and  includes  approximately  $2.2  million  of
preferred  security  dividends  paid and accrued  during both  periods,  and the
accretion  of  offering  costs  from the  private  placement  of the  Redeemable
Preferred Securities of approximately $0.1 million for both periods.

     Net loss available to common member. Net loss available to common member of
$0.3  million for both the three months ended June 30, 1999 and 2000 is a result
of preferred dividends on redeemable preferred securities, offset by net income,
as noted above.

Six  Months Ended June 30, 2000 Compared To Six Months Ended June 30, 1999

     Interest  income.  Interest income of $0.4 million and $0.2 million for the
six months ended June 30, 1999 and 2000, respectively, consists of income earned
on  invested  cash  proceeds  from  the  issuance  of the  Redeemable  Preferred
Securities in September and October 1997. Interest income has decreased and will
continue to decrease each period  through  November 15, 2000 due to the decrease
in average  balances held in short-term  investments as restricted cash balances
are used to pay cash dividend payments on the Redeemable  Preferred  Securities.
On November 15, 2000, the Company's restricted cash balances will be depleted.

     Dividend  income.  Dividend income of $3.6 million and $3.8 million for the
six months  ended June 30, 1999 and 2000,  respectively,  consists of  preferred
dividends  earned on the ICG Preferred  Stock,  which  dividends  were paid with
additional shares of ICG Preferred Stock.

     Net  income.  The  Company's  net income of $4.0  million  for both the six
months  ended June 30, 1999 and 2000,  consists of interest  income and dividend
income, as noted above.

                                       10
<PAGE>

     Preferred dividends on redeemable preferred securities, including accretion
of offering  costs.  Preferred  dividends on  redeemable  preferred  securities,
including  accretion of offering  costs was $4.7 million for both the six months
ended  June 30,  1999 and 2000,  and  includes  approximately  $4.4  million  of
preferred  security  dividends  paid and  accrued  during  both  periods and the
accretion  of  offering  costs  from the  private  placement  of the  Redeemable
Preferred Securities of approximately $0.3 million for both periods.

     Net loss available to common member. Net loss available to common member of
$0.7 million for both the six months  ended June 30, 1999 and 2000,  is a result
of preferred dividends on redeemable preferred securities, offset by net income,
as noted above.

Liquidity and Capital Resources

     The Company's  operations  consist  entirely of effecting the  transactions
required by the terms of the Redeemable Preferred Securities issued in September
and October 1997. To date, the Company's operations have been funded through the
proceeds from the issuance of the Redeemable  Preferred  Securities and the sale
of ICG Common Stock which was  contributed to the Company by ICG. As of June 30,
2000,  the Company has assets of  approximately  $133.8 million which consist of
the Company's investment in ICG Preferred Stock of approximately $128.4 million,
restricted  cash  invested in U.S.  Treasury  securities of  approximately  $4.4
million  for the  payment of cash  dividends  through  November  15, 2000 on the
Redeemable  Preferred Securities and a receivable for preferred dividends earned
on the  ICG  Preferred  Stock  of  approximately  $1.0  million.  The  Company's
liabilities  at June 30, 2000  include  approximately  $1.1 million in preferred
dividends accrued on the Redeemable  Preferred Securities and approximately $4.7
million due to ICG for  advances  for the  offering  costs  associated  with the
issuance of the Redeemable Preferred Securities.

     The Company is dependent upon ICG to declare and pay preferred dividends on
the ICG Preferred  Stock in order to pay dividends on, and the redemption  price
of, the Redeemable  Preferred  Securities.  ICG is a Delaware  corporation  that
files annual,  quarterly and current  reports with the  Securities  and Exchange
Commission. Its Commission File Number is 1-11965.

 Net Cash Provided By Operating Activities

     Net cash provided by operating  activities was  approximately  $0.4 million
and $0.2 million for the six months ended June 30, 1999 and 2000,  respectively,
and  consists of interest  income  earned on  restricted  cash  invested in U.S.
Treasury securities.

Net Cash Provided By Investing Activities

     The Company's investing activities provided  approximately $4.1 million and
$4.3 million for the six months ended June 30, 1999 and 2000, respectively. Cash
provided by investing activities for both the six months ended June 30, 1999 and
2000 consists of the decrease in restricted cash.



                                    11
<PAGE>


Net  Cash Used In Financing Activities

     Financing  activities  used  approximately  $4.5  million  for both the six
months ended June 30, 1999 and 2000. Cash used in financing  activities for both
periods  consists of  payments of cash  dividends  on the  Redeemable  Preferred
Securities.  The Company  expects  cash used by financing  activities  in future
periods to include only payments of cash dividends on, and the redemption  price
of, the Redeemable Preferred Securities.

Cash Commitments

     The Redeemable  Preferred  Securities  require  payments of dividends to be
made in cash and are being paid currently through November 15, 2000. At June 30,
2000,  the Company has cash dividend  obligations  on the  Redeemable  Preferred
Securities  of  approximately  $4.5 million  remaining in 2000.  The  Redeemable
Preferred  Securities  have a liquidation  preference of $50 per security,  plus
accrued  and unpaid  dividends,  and are  mandatorily  redeemable  in 2009.  The
Company's  management believes it has sufficient  resources to meet these future
cash requirements,  provided that ICG's board of directors  continues to declare
and pay dividends on the ICG Preferred Stock.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     The  Company's  restricted  cash balances are invested in fixed income U.S.
Treasury  securities  with staggered  maturities  matching the dividend  payment
dates of the Redeemable  Preferred  Securities.  Accordingly,  changes in market
interest rates have no effect on the Company's liquidity, financial condition or
results of operations.

     At June 30, 2000,  the Company had $128.4  million of ICG Preferred  Stock,
which is exchangeable into shares of ICG Common Stock, at an exchange rate based
on the exchange rate of the  Redeemable  Preferred  Securities.  There exists no
established  public  trading  market for the ICG  Preferred  Stock.  The risk of
changes in the fair market value of the  underlying  ICG Common Stock,  which is
listed and trades on the Nasdaq National Market, is eliminated by the adjustable
rate of exchange of shares of ICG Preferred  Stock. The ICG Preferred Stock pays
dividends in cash or additional shares of ICG Preferred Stock sufficient to meet
the dividend  requirements  on the  Redeemable  Preferred  Securities.  Although
changes  in the fair  market  value of ICG  Common  Stock  have no effect on the
Company's  financial  condition  or  results of  operations,  such  changes  may
influence the Company's decision to redeem the Redeemable  Preferred  Securities
or a Redeemable Preferred Securityholder's decision to exchange those securities
for ICG Common Stock.


                                       12
<PAGE>


                                    PART II

ITEM 1. LEGAL PROCEEDINGS

        None.

ITEM 2. CHANGES IN SECURITIES AND USE OF PROCEEDS

        None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES AND USE OF PROCEEDS

        None.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

        Effective May 2, 2000,  ICG, Sole  Common Member and  Manager of the
Company, caused  the  Company  to  declare  a cash  dividend  in the  amount
of $0.84 per Redeemable Preferred Security to holders of record at the close
of business on May 1, 2000, which was paid on May 15, 2000.

ITEM 5. OTHER INFORMATION

        None.

ITEM 6. EXHIBIT AND REPORT ON FORM 8-K

    (A) Exhibit.

       (27)  Financial Data Schedule.

             27.1:  Financial  Data Schedule of ICG Funding,  LLC for the
                    Six  Months Ended June 30, 2000.

    (B)  Report on Form 8-K.

        (i)  Current  Report  on Form 8-K dated  May 4, 2000,  regarding the
             announcement of earnings  information and results of operations
             for the quarter ended March 31, 2000 of ICG Communications, Inc.


                                       13
<PAGE>




                                INDEX TO EXHIBITS
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
<PAGE>

                                           EXHIBIT

     27.1:  Financial Data Schedule of ICG Funding, LLC for the Six Months Ended
            June 30, 2000.
<PAGE>
                                  EXHIBIT 27.1

      Financial Data Schedule of ICG Funding, LLC for the Six Months Ended
                                 June 30, 2000.


<PAGE>

                                    SIGNATURE

Pursuant  to the  requirements  of  Section  13 or  15(d)  of  the  Securities
Exchange Act of 1934,  the registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized, on July 24, 2000.



                                          ICG Funding, LLC

                                    By:   ICG Communications, Inc.
                                          Common Member and Manager


                                    By:    /s/ Harry R. Herbst
                                           --------------------------------
                                           Harry R. Herbst
                                           Executive Vice President and
                                           Chief Financial Officer
                                           (Principal Financial Officer)