<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 June 30, 1998

                                 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)
                                           June 30,         December 31,
                                            1998               1997
                                        ------------        -----------
<S>                                     <C>                 <C>
ASSETS

Investments:
 Equity investments (cost basis
  of $12,860,300 and $12,492,981 for
  1998 and 1997, respectively)          $17,353,073         14,234,001
 Notes receivable                                --              4,501
                                         ----------         ----------
     Total investments                   17,353,073         14,238,502

Cash and cash equivalents                 3,927,096          8,821,077
Due from related parties                     17,025                 --
Other assets                                  8,091             10,100
                                         ----------         ----------

     Total assets                       $21,305,285         23,069,679
                                         ==========         ==========

LIABILITIES AND PARTNERS' CAPITAL

Accounts payable and accrued expenses   $    22,405             47,799
Due to related parties                           --            119,285
Distributions payable                            --          3,544,571
Other liabilities                            16,763              3,736
                                         ----------         ----------

     Total liabilities                       39,168          3,715,391

Commitments and contingencies
 (Notes 2 and 7)

Partners' capital:
 Limited Partners
  (Units outstanding of 400,000
  for both 1998 and 1997)                15,616,142         16,288,081
 Managing General Partners                1,157,202          1,325,187
 Net unrealized fair value increase
  from cost of equity investments         4,492,773          1,741,020
                                         ----------         ----------

     Total partners' capital             21,266,117         19,354,288
                                         ----------         ----------

     Total liabilities and
      partners' capital                 $21,305,285         23,069,679
                                         ==========         ==========
</TABLE>

See accompanying notes to financial statements.

<PAGE>
STATEMENTS OF OPERATIONS (unaudited)
-----------------------------------
<TABLE>
<CAPTION>
                                               For the Three                 For the Six
                                               Months Ended                  Months Ended
                                                 June 30,                      June 30,
                                        -------------------------       ----------------------
                                            1998          1997            1998          1997
                                            ----          ----            ----          ----
<S>                                   <C>             <C>             <C>          <C>
Income:
 Secured notes receivable interest     $       --          6,604              --       15,345
 Short-term investment interest            29,841         29,928          60,594       45,909
                                        ---------      ---------       ---------   ----------
  Total income                             29,841         36,532          60,594       61,254


Costs and expenses:
 Management fees                           49,425         78,801         107,099      171,364
 Individual General Partners' 
  compensation                             10,301         15,243          19,916       24,901
 Operating expenses                       242,206        257,817         668,392      536,590
                                        ---------      ---------       ---------   ----------

  Total costs and expenses                301,932        351,861         795,407      732,855
                                        ---------      ---------       ---------   ----------

Net operating loss                       (272,091)      (315,329)       (734,813)    (671,601)

 Net realized gain (loss) from 
  sales of equity investments              73,410      1,804,280        (108,761)   3,448,542
 Net realized gain from venture
  capital limited partnership
  investments                                  --             --              --      413,631
 Recoveries from investments
  previously written off                    3,650             --           3,650           --
                                        ---------      ---------       ---------   ----------
Net realized (loss) income               (195,031)     1,488,951        (839,924)   3,190,572

Change in net unrealized 
  fair value of equity investments      1,771,262     (7,136,453)      2,751,753  (12,898,163)
                                        ---------      ---------       ---------   ----------

Net income (loss)                      $1,576,231     (5,647,502)      1,911,829   (9,707,591)
                                        =========      =========       =========   ==========

Net realized income (loss) per unit    $       --              3              (2)           7
                                        =========      =========       =========   ==========
</TABLE>

See accompanying notes to financial statements.

<PAGE>
STATEMENTS OF CASH FLOWS (unaudited)
-----------------------------------
<TABLE>
<CAPTION>
                                        For the Six Months Ended June 30,
                                        ---------------------------------
                                             1998                1997
                                          ----------         ----------
<S>                                      <C>                 <C>
Cash flows from operating activities:
 Interest received                      $   60,902              57,263
 Interest paid                                  --             (42,976)
 Cash paid to vendors                     (113,938)           (174,129)
 Cash paid to related parties             (828,137)           (627,263)
                                         ---------           ---------

  Net cash used by operating activities   (881,173)           (787,105)
                                         ---------           ---------

Cash flows from investing activities:
 Notes receivable issued                   (16,598)           (150,500)
 Purchase of equity investments           (979,997)         (1,389,501)
 Repayments of equity investments 
  and notes receivable                     204,848              10,157
 Proceeds from sales of equity
  investments                              319,860           8,267,100
 Recoveries from investments
  previously written off                     3,650                  --
                                         ---------           ---------

  Net cash (used) provided by 
   investing activities                   (468,237)          6,737,256
                                         ---------           ---------

Cash flows from financing activities:
  Distribution to partners              (3,544,571)                 --
  Repayments of promissory notes                --          (1,363,332)
                                         ---------           ---------

  Net cash used by financing 
   activities                           (3,544,571)         (1,363,332)
                                         ---------           ---------

Net (decrease) increase in cash
  and cash equivalents                  (4,893,981)          4,586,819

Cash and cash equivalents at 
  beginning of year                      8,821,077           1,402,668
                                         ---------           ---------
Cash and cash equivalents               $3,927,096           5,989,487
  at June 30                             =========           =========

See accompanying notes to financial statements.
</TABLE>

<PAGE>

STATEMENTS OF CASH FLOWS (unaudited)(continued)
-----------------------------------------------
<TABLE>
<CAPTION>
                                       For the Six Months Ended June 30,
                                       ---------------------------------
                                            1998                1997
                                        -----------         -----------
<S>                                    <C>                   <C>
Reconciliation of net income (loss) to 
 net cash used by operating activities:

Net income (loss)                       $1,911,829          (9,707,591)

Adjustments to reconcile net income 
 (loss) to net cash used by operating
 activities:
  Net realized loss (gain) from sales 
   of equity investments                   108,761          (3,448,542)
  Net realized gain from venture
   capital limited partnership
   investments                                  --            (413,631)
  Recoveries from investments
   previously written off                   (3,650)                 --
  Change in net unrealized fair value 
   of equity investments                (2,751,753)         12,898,163

Changes in:
 Due to/from related parties              (136,310)            (57,590)
 Other changes, net                        (10,050)            (57,914)
                                         ---------           ---------
Net cash used by operating activities   $ (881,173)           (787,105)
                                         =========           =========

</TABLE>

See accompanying notes to financial statements.

<PAGE>

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

1.     General
       -------

In the opinion of the Managing General Partners, the accompanying interim 
financial statements reflect all adjustments necessary for a fair 
presentation of the financial position, results of operations, and cash 
flows for the interim periods presented.  These statements should be read 
in conjunction with the Annual Report on Form 10-K for the year ended 
December 31, 1997.  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.     Related Party Transactions
       --------------------------

Related party costs are included in costs and expenses shown on the 
Statements of Operations.  Related party costs for the six months ended 
June 30, 1998 and 1997, were as follows:

<TABLE>
<CAPTION>
                                                 1998          1997
                                               --------      --------
   <S>                                        <C>            <C>
   Management fees                            $107,099       171,364
   Individual General Partners' compensation    19,916        24,901
   Reimbursable operating expenses             564,812       373,408

</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 $30,750 due from related parties at June 
30, 1998 and $78,672 due to related parties at December 31, 1997, for such 
expenses.

Amounts payable for management fees were $13,725 and $40,613 at June 30, 
1998, and December 31, 1997, 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 June 30, 1998, the Partnership had an indirect interest in 
Endocare, Inc. and Physiometrix, Inc. non-transferable options at an 
exercise price higher than the current market value.



<PAGE>

3.     Equity Investments
       ------------------
<TABLE>
A full listing of the Partnership's equity investments at December 31, 1997 is in the 1997 Annual 
Report.  Activity from January 1 through June 30, 1998 consisted of:
<CAPTION>

                                                                                 January 1 
                                                                          through June 30, 1998
                                                                        --------------------------
                                                            Principal
                                          Investment        Amount or      Cost           Fair
Industry/Company         Position            Date             Shares       Basis          Value
----------------         --------         ----------        ---------     -------        -------
<S>                    <C>                 <C>              <C>            <C>         <C>
Balance at January 1, 1998                                              $12,492,981     14,234,001
                                                                         ----------     ----------

Significant changes:

Communications
--------------
NetChannel,             Series B
 Inc.                   Preferred            10/96-
                        shares               05/97          1,100,757      (384,398)      (581,293)
NetChannel,             Convertible
 Inc.                   notes               various          $180,172      (185,309)      (185,309)
NetChannel,             Escrowed sales
 Inc.                   proceeds             06/98            $74,761        74,761         74,761
Women.com               Series D
 Networks               Preferred
                        shares               06/98             91,185       299,999        299,999

Environmental
-------------
Thermatrix, Inc.        Common shares        06/96          1,105,847             0      2,822,072

Medical/Biotechnology
---------------------
Endocare,               Common
 Inc.                   shares               04/98             35,714       124,999        107,356

Neurex                  Common
 Corporation            shares               09/96              3,379       (70,959)       (45,448)
Periodontix,            Series C
 Inc.                   Preferred shares     02/98            106,122       259,999        259,999
Urogen                  Convertible
 Corporation            note (1)             06/98           $250,000       250,000        250,000

Venture Capital Limited Partnership Investments
-----------------------------------------------
Various                 Limited
                        Partnership
                        Interests           various        $2,303,764        (2,683)       242,161
                                                                         ----------     ----------


Total significant changes during the six
months ended June 30, 1998                                                  366,409      3,244,298

Other changes, net                                                              910       (125,226)
                                                                         ----------     ----------
Total equity investments at June 30, 1998                               $12,860,300     17,353,073
                                                                         ==========     ==========


(1)  Convertible notes include accrued interest.  The interest rate on notes issued in 1998 was 8%.

</TABLE>




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

At June 30, 1998, and December 31, 1997, marketable equity securities had 
aggregate costs of $4,945,481 and $3,157,615, respectively, and aggregate 
market values of $5,532,384 and $2,414,032, respectively.  The net 
unrealized gain at June 30, 1998 and the net unrealized loss at December 
31, 1997 included gross gains of $1,394,865 and $350,879, respectively.

Endocare, Inc.
--------------

In April 1998, the Partnership purchased 35,714 common shares for $124,999 
in a private placement.  At June 30, 1998, the Partnership recorded a 
$23,591 decrease in the fair value of its investment based on the publicly-
traded market price of the company's common shares.

NetChannel, Inc.
----------------

In June 1998, America Online, Inc., completed its acquisition of the 
company.  Based on the expected sales proceeds, the Partnership recorded a 
realized loss of $158,284 at March 31, 1998.  This loss was later adjusted 
to $89,873 on the completion  of the sale transaction.  In June 1998, 
proceeds of $219,762 and $204,848 were received from the sale of the 
Partnership's preferred shares and repayment of convertible and other notes 
receivable. An amount of $74,761 in future sale proceeds will remain in 
escrow through December 1999 pending final resolution of the sale.

Neurex, Inc.
------------

In February 1998, the Partnership sold 3,379 common shares for total 
proceeds of $61,884 and realized a loss of $9,075.

Periodontix, Inc.
-----------------

In February 1998, the Partnership purchased 106,122 Series C Preferred 
shares for $259,999.

Urogen Corporation
------------------

In June 1998, the Partnership issued $250,000 in convertible notes 
receivable to the company and received a warrant to purchase 125,000 common 
shares at $0.74 per share prior to June, 2005.

Women.com Networks (formerly Wire Networks, Inc.)
-----------------------------------------------

In February 1998, the company changed its name from Wire Networks, Inc. to 
Women.com Networks.  In June 1998, the Partnership made an additional 
investment in the company by purchasing 91,185 Series D Preferred shares 
for $299,999.  The pricing of this round, in which third parties 
participated, indicated a $12,210 increase in the fair value of the 
Partnership's existing investment.

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

The Partnership made additional investments totaling $45,000 in venture 
capital limited partnerships during the six months ended June 30, 1998.  
The Partnership also received stock distributions of Hybridon, Inc. and 
Neurex Corporation with fair values of $42,161 and $5,522, respectively, 
which were recorded as returns of capital.

The Partnership recorded a $242,161 increase in fair value as a result of a 
net increase in the fair value of the underlying investments.

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 Physiometrix, Inc. and Thermatrix, Inc. shares are 
restricted.

4.     Notes Receivable
       ----------------

Activity from January 1, 1998, through June 30, 1998, consisted of:
<TABLE>
<S>                                                         <C>   
Balance at January 1, 1998                                  $  4,501

1998 activity:
  Notes receivable issued                                     16,598
  Repayment of notes receivable                              (16,598)
  Change in interest receivable                               (4,501)
                                                              ------
 Total notes receivable
 at June 30, 1998                                            $    --
                                                              ======

</TABLE>


5.     Cash and Cash Equivalents
       -------------------------

Cash and cash equivalents at June 30, 1998 and December 31, 1997 consisted 
of:
<TABLE>
                                                 1998             1997
                                                ------           ------
<S>                                           <C>              <C>   

Demand accounts                             $   35,063         5,543,116
Money-Market accounts                        3,892,033         3,277,961
                                             ---------         ---------
     Total                                  $3,927,096         8,821,077
                                             =========         =========

At June 30, 1998, the majority of the money market funds were on deposit at 
a single financial institution.

</TABLE>

6.     Distributions
       -------------

In October 1997, the Managing General Partners declared distributions ($9 
per unit) for Unit holders as of September 30, 1997.  Distributions of 
$455,429 were paid prior to December 31, 1997 and the balance of $3,544,571 
was paid in February 1998.  Unnegotiated distribution checks, if any after 
a reasonable amount of time, are recorded as other liabilities.

7.     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 June 30, 1998, the Partnership had unfunded commitments for 
venture capital limited partnership investments of $56,150.

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

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

During the six months ended June 30, 1998, net cash used by operating 
activities totaled $881,173.  The Partnership paid management fees of 
$133,987 to the Managing General Partners and reimbursed related parties 
for operating expenses of $674,234 in 1998.  In addition, $19,916 was paid 
to the Individual General Partners as compensation for their services.  
Other operating expenses of $113,938 were paid and interest income of 
$60,902 was received.

During the six months ended June 30, 1998, the Partnership funded equity 
investments of $979,997 mostly to portfolio companies in the medical/ 
biotechnology and communications industries.  Proceeds from the sales of 
equity investments were $319,860.  Distributions to partners declared in 
1997, of $3,544,571, were paid in February, 1998.  At June 30, 1998, the 
Partnership was committed to fund $56,150 in additional investments.  

Cash and cash equivalents at June 30, 1998, were $3,927,096.  Future 
proceeds from investment sales and interest income on short-term 
investments 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 income was $1,576,231 for the quarter ended June 30, 1998, compared to 
a net loss of $5,647,502 during the same period in 1997.  The change was 
primarily due to an increase of $8,907,715 in the change in net unrealized 
fair value of equity investments, partially offset by a $1,730,870 decrease 
in realized gains from sales of equity investments.

During the quarter ended June 30, 1998, the increase in equity investment 
fair value of $1,771,262 was primarily attributable to an increase in a 
portfolio company in the environmental industry.  During the same period in 
1997, the decrease in fair value of equity investments of $7,136,453 was 
primarily attributable to portfolio companies in the environmental, 
computer systems and software and pharmaceuticals industries.

Net realized gain from sales of equity investments was $73,410 for the 
quarter ended June 30, 1998, as compared to a net realized gain of 
$1,804,280 for the quarter ended June 30, 1997.  The net gains in 1998 and 
1997 primarily related to the sales of NetChannel, Inc. and Shaman 
Pharmaceuticals, Inc., respectively.

Total operating expenses were $242,206 and $257,817 for the quarters ended 
June 30, 1998 and 1997, respectively.

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

Current six months compared to corresponding six months in the preceding
------------------------------------------------------------------------
year
----

Net income was $1,911,829 for the six months ended June 30, 1998, compared 
to a net loss of $9,707,591 during the same period in 1997. The change was 
primarily due to an increase of $15,649,916 in the change in net unrealized 
fair value of equity investments, partially offset by a $3,557,303 decrease 
in realized gains from the sales of equity investments.

During the six months ended June 30, 1998, the increase in equity 
investment fair value of $2,751,753 was mainly attributable to a portfolio 
company in the environmental industry.  During the same period in 1997, the 
decrease of $12,898,163 was primarily attributable to portfolio companies 
in the environmental, computer systems and software, and pharmaceuticals 
industries, partially offset by increases in portfolio companies in the 
communications industries.

During the six months ended June 30, 1998, net realized loss on sales of 
equity investments was $108,761 primarily related to the sale of 
NetChannel, Inc.  A net realized gain due from sales of equity investments 
of $3,448,542 during the same period in 1997 was primarily due to the 
common stock sales of SyStemix, Inc., and Shaman Pharmaceuticals, Inc.

Total operating expenses were $668,392 and $536,590 for the six months 
ended June 30, 1998 and 1997, respectively.  The increase is attributable 
to increased investment monitoring activities, administrative costs and 
development costs associated with enabling investors to access on-line 
account information.

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 June 30, 1998.
 
b) Financial Data Schedule for the six months ended and as of June 30, 
1998 (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:  August 14, 1998   By:      /s/Michael R. Brenner
                            -------------------------------------------
                                     Michael R. Brenner
                                     Controller