<PAGE>

                            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 the quarterly period ended March 31, 1999

                                 OR

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

            For the transition period from N/A to N/A
                                           ---    ---

                      Commission File No. 814-55

TECHNOLOGY FUNDING VENTURE PARTNERS IV, AN AGGRESSIVE GROWTH FUND, L.P.
-----------------------------------------------------------------------
         (Exact name of Registrant as specified in its charter)

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

2000 Alameda de las Pulgas, Suite 250
San Mateo, California                                            94403
-------------------------------------                        ---------
(Address of principal executive offices)                     (Zip Code)

                              (650) 345-2200
             --------------------------------------------------
            (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 
                                                              ---   --- 
No active market for the units of limited partnership interests 
("Units") exists, and therefore the market value of such Units cannot be 
determined.


<PAGE>

I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

BALANCE SHEETS
--------------

<TABLE>
<CAPTION>

                                        (unaudited)
                                          March 31,         December 31,
                                            1999               1998
                                        ------------        -----------
<S>                                     <C>                 <C>
ASSETS

Investments:
 Equity investments (cost basis
  of $13,030,875 and $12,547,986 for
  1999 and 1998, respectively)          $15,466,428         15,647,313
 Notes receivable (cost basis of
  $33,677 and $202,777 for 1999 and
  1998, respectively)                        33,677            202,777
                                         ----------         ----------
     Total investments                   15,500,105         15,850,090

Cash and cash equivalents                   641,553          1,188,918
Due from related parties                         --             29,771
Other assets                                 12,206              5,179
                                         ----------         ----------

     Total assets                       $16,153,864         17,073,958
                                         ==========         ==========

LIABILITIES AND PARTNERS' CAPITAL

Accounts payable and accrued expenses   $    34,925             48,922
Due to related parties                       13,450                 --
Distributions payable                       370,130            370,130
Other liabilities                            13,971             13,914
                                         ----------         ----------

     Total liabilities                      432,476            432,966

Commitments, contingencies and
 subsequent event (Notes 3, 4, 7 and 8)

Partners' capital:
 Limited Partners
  (400,000 Units outstanding)            12,977,946         13,170,018
 General Partners                           307,889            371,647
 Net unrealized fair value increase
  from cost of equity investments         2,435,553          3,099,327
                                         ----------         ----------

     Total partners' capital             15,721,388         16,640,992
                                         ----------         ----------

     Total liabilities and
      partners' capital                 $16,153,864         17,073,958
                                         ==========         ==========
</TABLE>

See accompanying notes to financial statements.

<PAGE>

STATEMENTS OF OPERATIONS (unaudited)
-----------------------------------

<TABLE>
<CAPTION>
                                   For the Three Months Ended March 31,
                                   ------------------------------------
                                            1999           1998
                                          --------       --------
<S>                                      <C>             <C>
Income:
 Notes receivable interest              $  10,284             --
 Short-term investment interest             6,132         30,753
                                          -------        -------
  Total income                             16,416         30,753

Costs and expenses:
 Management fees                           42,685         57,674
 Individual General Partners' 
  compensation                              8,669          9,615
 Operating expenses
  Investment operations                    78,758        146,123
  Administrative and investor services    137,650        176,116
  Professional fees                        11,860         12,015
  Computer services                        28,436         91,932
                                          -------        -------
  Total operating expenses                256,704        426,186
                                          -------        -------
  Total costs and expenses                308,058        493,475
                                          -------        -------

Net operating loss                       (291,642)      (462,722)

 Net realized loss from 
  sales of equity investments             (30,464)      (182,171)
 Realized gain from venture
  capital limited partnership
  investments                              66,276             --
                                          -------        -------
Net realized loss                        (255,830)      (644,893)

Change in net unrealized 
  fair value of equity 
  investments                            (663,774)       980,491
                                          -------        -------

Net (loss) income                       $(919,604)       335,598
                                          =======        =======

Net realized loss per Unit              $   (0.48)         (1.30)
                                          =======        =======
</TABLE>

See accompanying notes to financial statements.

<PAGE>
STATEMENTS OF CASH FLOWS (unaudited)
-----------------------------------
<TABLE>
<CAPTION>
                                       For the Three Months Ended March 31,
                                       -----------------------------------
                                             1999                1998
                                          ----------         ----------
<S>                                      <C>                 <C>
Cash flows from operating activities:
 Interest received                      $   14,764              32,130
 Cash paid to vendors                     (111,969)           (106,780)
 Cash paid to related parties             (173,835)           (473,395)
                                         ---------           ---------

  Net cash used by operating activities   (271,040)           (548,045)
                                         ---------           ---------

Cash flows from investing activities:
 Purchase of equity investments           (510,208)           (289,999)
 Notes receivable issued                   (33,333)            (16,598)
 Repayments of notes receivable            198,844                  --
 Proceeds from sales of equity
  investments                               68,372              95,096
                                         ---------           ---------

  Net cash used by 
   investing activities                   (276,325)           (211,501)
                                         ---------           ---------

Cash flows from financing activities:
  Distribution to partners                      --          (3,544,571)
                                         ---------           ---------

  Net cash used by financing 
   activities                                   --          (3,544,571)
                                         ---------           ---------

Net decrease in cash
  and cash equivalents                    (547,365)         (4,304,117)

Cash and cash equivalents at 
  beginning of year                      1,188,918           8,821,077
                                         ---------           ---------
Cash and cash equivalents               $  641,553           4,516,960
  at March 31                            =========           =========

See accompanying notes to financial statements.
</TABLE>

<PAGE>

STATEMENTS OF CASH FLOWS (unaudited)(continued)
-----------------------------------------------
<TABLE>
<CAPTION>
                                       For the Three Months Ended March 31,
                                       ------------------------------------
                                            1999                 1998
                                        -----------          -----------
<S>                                    <C>                   <C>
Reconciliation of net (loss) income to 
 net cash used by operating activities:

Net (loss) income                       $ (919,604)            335,598

Adjustments to reconcile net (loss) 
 income to net cash used by operating
 activities:
  Net realized loss from sales 
   of equity investments                    30,464             182,171
  Realized gain from venture
   capital limited partnership
   investments                             (66,276)                 --
  Change in net unrealized fair value 
   of equity investments                   663,774            (980,491)

Changes in:
 Due to/from related parties                43,221             (87,596)
 Other changes, net                        (22,619)              2,273
                                         ---------           ---------
Net cash used by operating activities   $ (271,040)           (548,045)
                                         =========           =========

</TABLE>

See accompanying notes to financial statements.

<PAGE>

NOTES TO FINANCIAL STATEMENTS (unaudited)
----------------------------------------

1.     General
       -------

In the opinion of the Managing General Partners, the Balance Sheets as of 
March 31, 1999, and December 31, 1998, and the related Statements of 
Operations and Statements of Cash Flows for the three months ended March 
31, 1999 and 1998, reflect all adjustments which are necessary for a fair 
presentation of the financial position, results of operations and cash 
flows for such period.  These statements should be read in conjunction with 
the Annual Report on Form 10-K for the year ended December 31, 1998.  The 
following notes to financial statements for activity through March 31, 
1999, supplement those included in the Annual Report on Form 10-K.  
Allocation of income and loss to Limited and General Partners is based on 
cumulative income and loss.  Adjustments, if any, are reflected in the 
current quarter balances.

2.     Financing of Partnership Operations
       -----------------------------------

The Managing General Partners expect cash received from the future 
liquidation of Partnership investments and future short-term borrowings 
will provide the necessary liquidity to fund Partnership operations.  The 
Partnership may be dependent upon the financial support of the Managing 
General Partners to fund operations if future proceeds are not received 
timely.  The Managing General Partners have committed to support the 
Partnership's working capital requirements through short-term advances as 
necessary.

3.     Related Party Transactions
       --------------------------

Related party costs are included in costs and expenses shown on the 
Statements of Operations.  Related party costs for the three months ended 
March 31, 1999 and 1998, were as follows:

<TABLE>
<CAPTION>
                                                 1999          1998
                                               --------      --------
   <S>                                        <C>            <C>
   Management fees                            $ 42,685        57,674
   Individual General Partners' compensation     8,669         9,615
   Reimbursable operating expenses             165,702       318,510

</TABLE>

Certain reimbursable expenses have been accrued based upon interim 
estimates prepared by the Managing General Partners and are adjusted to 
actual periodically.  There were $14,019 and $40,957 due from related 
parties at March 31, 1999 and December 31, 1998 respectively, related to 
such expenses.

Amounts payable for management fees were $27,469 and $11,186 at March 31, 
1999, and December 31, 1998, respectively.  Pursuant to the Partnership 
Agreement, quarterly management fees are equal to one quarter of one 
percent of the fair value of Partnership assets.

Officers of the Managing General Partners occasionally receive stock 
options as compensation for serving on the Boards of Directors of portfolio 
companies.  At March 31, 1999, the Partnership had an indirect interest in 
Endocare, Inc., Physiometrix, Inc., Thermatrix Inc., and UroGen Corp., non-
transferable options with a total fair market value of $23,644.



<PAGE>

4.     Equity Investments
       ------------------
<TABLE>
A full listing of the Partnership's equity investments at December 31, 1998, is in the 1998 Annual 
Report on Form 10-K.  Activity from January 1 through March 31, 1999, consisted of:
<CAPTION>

                                                                    January 1 through March 31, 1999
                                                                    --------------------------------
                                                          Principal
                                          Investment      Amount or        Cost           Fair
Industry/Company         Position            Date           Shares         Basis          Value
----------------         --------         ----------      ---------       -------        -------
<S>                    <C>                 <C>            <C>            <C>         <C>
Balance at January 1, 1999                                             $12,547,986     15,647,313
                                                                        ----------     ----------

Significant changes:

Computer Equipment Systems and Software
---------------------------------------
Pilot Network
 Services, Inc.         Common shares        02/99            4,367         56,689         63,431

Environmental
-------------
Thermatrix Inc.         Common shares        06/96        1,105,847              0       (710,811)

Information Technology
----------------------
WorldRes, Inc.          Series D
                        Preferred shares     03/99           27,273        165,002        165,002
WorldRes, Inc.          Series B and C
                        Preferred shares     01/97-12/97    128,645              0        302,315


Medical/Biotechnology
---------------------
Biex, Inc.              Series F
                        Preferred shares     03/99          132,743        345,132        345,132
Biex, Inc.              Series A, B, C,
                        D and E Preferred
                        shares               07/93-08/97    611,006              0         61,098
Endocardial Solutions,
 Inc.                   Common shares        09/97            5,714        (80,710)       (58,140)
Endocare, Inc.          Common shares        08/96-04/98     46,014              0         94,007
Inhale Therapeutic
 Systems, Inc.          Common shares        12/95-03/97     28,952              0       (207,382)
Physiometrix, Inc.      Common shares        04/96          270,791              0        248,462

Microelectronics
----------------
KOR Electronics, Inc.   Series E
                        Preferred
                        shares               01/94        1,130,390              0       (423,896)

Venture Capital Limited Partnerships
------------------------------------
Various                 Limited Partnership
                        interests            Various     $2,318,764              0        (66,276)
                                                                        ----------     ----------
Total significant changes during the three
months ended March 31, 1999                                                486,113       (187,058)

Other changes, net                                                          (3,224)         6,173
                                                                        ----------     ----------
Total equity investments at March 31, 1999                             $13,030,875     15,466,428
                                                                        ==========     ==========

</TABLE>


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

At March 31, 1999, and December 31, 1998, marketable equity securities had 
aggregate costs of $3,240,316, and $3,204,508, respectively, and aggregate 
market values of $2,656,956 and $2,967,543, respectively.  The net 
unrealized losses at March 31, 1999, and December 31, 1998, included gross 
gains of $345,476 and $819,176, respectively.

Biex, Inc.
----------

In March 1999, the Partnership purchased 132,743 Series F Preferred shares 
for $345,132.  The pricing of this round, in which third parties 
participated, indicated a $69,407 increase in the fair value of the 
Partnership's investment in the company's preferred shares and warrants.

Endocardial Solutions, Inc.
---------------------------

In March 1999, the Partnership sold its entire investment in the company 
for proceeds of $50,246 and realized a loss of $30,464.

KOR Electronics, Inc.
---------------------

In March 1999, the Partnership recorded a $423,896 decrease in the fair 
value of its investment in the company based upon the operating status of 
the company.

Women.com Networks
------------------

In January 1999, the company announced the formation of a joint venture 
with Hearst New Media & Technology, a wholly owned unit of the Hearst 
Corporation.

Subsequent to March 31, 1999, the Partnership purchased 8,666 Series E 
Preferred shares for $86,660.  The pricing of this round, in which third 
parties participated, indicated an increase in the fair value of the 
Partnership's investment in the company from $460,699 to $1,486,960.

WorldRes, Inc.
--------------

In March 1999, the Partnership made an additional investment in the company 
by purchasing 27,273 Series D Preferred shares for $165,002.  The pricing 
of this round, in which third parties participated, indicated a $318,165 
increase in the fair value of the Partnership's investment in the company's 
preferred shares and warrants.

Venture Capital Limited Partnerships
------------------------------------

The Partnership received stock distributions of Pilot Network Services, 
Inc. and Rogue Wave Software, Inc. with fair values totaling $66,276.  
These distributions were recorded as realized gains.  The Partnership 
recorded a $66,276 decrease in the fair value of the underlying investments 
of the partnerships as a result of the distributions. 

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

Other significant changes reflected above relate to market value 
fluctuations or the elimination of a discount relating to selling 
restrictions for publicly traded portfolio companies.  Portions of the 
Partnership's Thermatrix, Inc. shares are restricted.

5.     Notes Receivable
       ----------------

Activity from January 1, 1999, through March 31, 1999, consisted of:
<TABLE>
<S>                                                         <C>   
Balance at January 1, 1999                                  $202,777

1999 activity:
  Notes receivable issued                                     33,333
  Repayments of notes receivable                            (198,844)
  Change in interest receivable                               (3,589)
                                                             -------

Balance at March 31, 1999                                   $ 33,677
                                                             =======

</TABLE>

6.     Cash and Cash Equivalents
       -------------------------

Cash and cash equivalents at March 31, 1999 and December 31, 1998 consisted 
of:

<TABLE>

                                                 1999             1998
                                                ------           ------
<S>                                           <C>              <C>   

Demand accounts                               $    356            30,009
Money-Market accounts                          641,197         1,158,909
                                               -------         ---------

     Total                                    $641,553         1,188,918
                                               =======         =========

</TABLE>

At March 31, 1999, the majority of the Partnership's funds were on deposit 
at a single financial institution.

7.     Distributions
       -------------

At March 31, 1999, distributions of $370,130, declared in 1998, were 
payable to Limited Partners.

8.     Commitments and Contingencies
       -----------------------------

The Partnership is a party to financial instruments with off-balance-sheet 
risk in the normal course of its business.  Generally, these instruments 
are commitments for future equity fundings, venture capital limited 
partnership investments, equipment financing commitments, or accounts 
receivable lines of credit that are outstanding but not currently fully 
utilized.  As they do not represent current outstanding balances, these 
unfunded commitments are properly not recognized in the financial 
statements.  At March 31, 1999, the Partnership had the following unfunded 
commitments:

<TABLE>
<CAPTION>

TYPE
----
<S>                                                  <C>
Notes receivable                                      $ 87,000
Line of credit guarantees                              615,550
Venture capital limited partnership investments         41,150
                                                       -------
     Total                                            $743,700
                                                       =======
</TABLE>

Item 2.  Management's Discussion and Analysis of Financial
         Condition and Results of Operations

Liquidity and Capital Resources
-------------------------------

During the three months ended March 31, 1999, net cash used by operating 
activities totaled $271,040.  The Partnership paid management fees of 
$26,402 to the Managing General Partners and reimbursed related parties for 
operating expenses of $138,764 in 1999.  In addition, $8,669 was paid to 
the Individual General Partners as compensation for their services.  Other 
operating expenses of $111,969 were paid and interest income of $14,764 was 
received.

During the three months ended March 31, 1999, the Partnership funded equity 
investments of $510,208 primarily to portfolio companies in the information 
technology and medical/biotechnology industries and issued $33,333 in notes 
receivable to a portfolio company in the environmental industry.  Proceeds 
from the sales of equity investments were $68,372 and repayments of notes 
receivable were $198,844.  At March 31, 1999, the Partnership's unfunded 
commitments totaled $743,700.

Cash and cash equivalents at March 31, 1999, were $641,553.  Future 
proceeds from investment sales and future short-term borrowings along with 
Managing General Partner support are expected to be adequate to fund 
Partnership operations through the next twelve months.

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

Current quarter compared to corresponding quarter in the preceding year
-----------------------------------------------------------------------

Net loss was $919,604 for the quarter ended March 31, 1999, compared to net 
income of $335,598 during the same period in 1998.  The change was 
primarily due to a decrease of $1,644,265 in the change in net unrealized 
fair value of equity investments.  This change was partially offset by a 
$169,482 decrease in operating expenses and a $151,707 decrease in realized 
losses from sales of equity investments.

During the quarter ended March 31, 1999, the decrease in equity investment 
fair value of $663,774 was primarily attributable to decreases in portfolio 
companies in the environmental and microelectronics industries, partially 
offset by increases in portfolio companies in the information technology 
and medical/biotechnology industries.  During the same period in 1998, the 
increase in fair value of equity investments of $980,491 was primarily 
attributable to increases in portfolio companies in the environmental 
industry, partially offset by decreases in the communications industry.

Total operating expenses were $256,704 and $426,186 for the quarters ended 
March 31, 1999 and 1998, respectively.  The decrease is primarily 
attributable to decreased investment monitoring activity and decreased 
computer expenses.

Net realized loss from sales of equity investments was $30,464 for the 
quarter ended March 31, 1999, as compared to a net realized loss of 
$182,171 for the quarter ended March 31, 1998.  The loss in 1999 resulted 
from the sale of Endocardial Solutions, Inc.  The loss in 1998 primarily 
related to the sale of NetChannel, Inc.

Given the inherent risk associated with the business of the Partnership, 
the future performance of the portfolio company investments may 
significantly impact future operations.

YEAR 2000
---------

Widespread use of computer programs that use two digits rather than four to 
store, calculate, and display year values in dates may cause computer 
systems to malfunction in the year 2000, resulting in significant business 
delays and disruptions.

The Partnership's State of Readiness
------------------------------------

Computer services are provided to the Partnership by its Managing General 
Partner, Technology Funding Inc. ("TFI".)  For several years, TFI has 
sought to use Year 2000 compliant storage formats and algorithms in its 
internally-developed and maintained systems.  TFI has also completed 
initial evaluations of computer systems, software, and embedded 
technologies.  Those evaluations confirmed that certain components of its 
network server hardware and operating systems, voice mail system, e-mail 
system, and accounting software may have Year 2000 compliance issues.  
These resources and several less-critical components of the systems 
environment were all scheduled as part of normal maintenance and 
replacement cycles to be replaced or upgraded as Year 2000 compatible 
components became available from vendors during 1998 and 1999.  That 
program remains on schedule to provide Year 2000 capable systems timely 
without significant expenditures or disruption of Partnership operations.  
However, the risk remains that TFI may not be able to verify whether Year 
2000 compatibility claims by vendors are accurate, or whether changes 
undertaken to achieve Year 2000 compatibility will create other undetected 
problems in associated systems.  Therefore, TFI anticipates that Year 2000 
compliance testing and maintenance of these systems will continue as needed 
into the first quarter of 2000.  

As part of Year 2000 evaluation, TFI has also assembled a database listing 
its significant suppliers to assess the extent to which it needs to prepare 
for any of those parties' potential failure to remediate their Year 2000 
compliance issues.  TFI is reviewing public Year 2000 statements of those 
suppliers and preparing questionnaires to be sent to mission-critical 
vendors whose public statements were not adequate for assessment.  TFI will 
continue to monitor its significant suppliers as part of its Year 2000 
evaluation.  However, there can be no guarantee that the systems of other 
companies on which TFI relies will be timely converted, or that failure to 
convert will not have a material adverse effect on the Partnership and its 
operations.  TFI is also working with the Partnership's portfolio companies 
to determine the extent to which their operations are vulnerable to Year 
2000 issues.  There can be no guarantee that the systems of portfolio 
companies in which the Partnership has invested will be timely converted, 
or that failure to convert will not have a material adverse effect on the 
Partnership.  

The Cost to Address Year 2000 Issues
------------------------------------

Expenditures in 1999 to date related to Year 2000 issues were not material 
to the Partnership's financial statements.  TFI expects that additional 
expenditures for Year 2000 compliance will not be material to the 
Partnership.  

The Risks Associated with Year 2000 Issues
------------------------------------------

Any failure by the portfolio companies in which the Partnership has 
invested, or by those portfolio companies' key suppliers or customers, to 
anticipate and avoid Year 2000 related problems at reasonable cost could 
have a material adverse effect on the value of and/or the timing of 
realization of value from the Partnership's investments.  If Year 2000 
compliance issues are not resolved by December 31, 1999, internal system 
failures or miscalculations could cause a temporary inability to process 
transactions, loss of ability to send or receive e-mail and voice mail 
messages, or disruptions in other normal business activities.  
Additionally, failure of third parties on whom TFI relies to remediate 
their Year 2000 issues timely could result in disruptions in the 
Partnership's relationship with its financial institutions, temporary 
disruptions in processing transactions, unanticipated costs, and problems 
related to the Partnership's daily operations.  While TFI continues to 
address its internal Year 2000 issues, until TFI receives and evaluates 
responses from a significant number of its suppliers, the overall risks 
associated with the Year 2000 issue remain difficult to describe and 
quantify.  There can be no guarantee that the Year 2000 issue will not have 
a material adverse effect on the Partnership and its operations.

TFI's Contingency Plan
----------------------

As part of its normal efforts to assure business continuation in the event 
of natural disasters, systems failures, or other disruptions, TFI has 
prepared contingency plans including an extensive Year 2000 contingency 
plan.  Taken together with TFI's Year 2000 remediation plan, it identifies 
potential points of failure, approaches to correcting known Year 2000 
problems, dates by which the preferred corrections are anticipated to be 
made and tested, and alternative approaches if the corrections are not 
completed timely or are later found to be inadequate.  Although backup 
systems and contingency approaches have been identified for most mission-
critical systems and vendor dependencies, there remain some systems for 
which no good alternative exists, and there may be some problems that prove 
more intractable than currently anticipated.  

II.  OTHER INFORMATION

Item 6.   Exhibits and Reports on Form 8-K

(a)  No reports on Form 8-K were filed by the Partnership during the
     quarter ended March 31, 1999.

(b)  Financial Data Schedule for the three months ended and as of 
     March 31, 1999 (Exhibit 27).


<PAGE>




                              SIGNATURES
                              ----------

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.

                         TECHNOLOGY FUNDING VENTURE PARTNERS IV, 
                         AN AGGRESSIVE GROWTH FUND, L.P.

                         By:  TECHNOLOGY FUNDING INC.
                              Managing General Partner




Date:  May 14, 1999      By:      /s/Michael R. Brenner
                            -------------------------------------------
                                     Michael R. Brenner
                                     Controller