<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, 2005

                                 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)

   1107 Investment Blvd., Suite 180
   El Dorado Hills, California                                 95762
---------------------------------------                       --------
(Address of principal executive offices)                     (Zip Code)

                              (916) 941-1400
             --------------------------------------------------
            (Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:  None
Securities registered pursuant to Section 12(g) of the Act:  Limited
Partnership Units

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
                                                   ---   ---

Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12B-2 of the Act).              Yes    No X
                                                   ---   ---

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

Forward-Looking Statements
--------------------------

The Private Securities Litigation Reform Act of 1995 (the Act) provides a
safe harbor for forward-looking statements made by or on behalf of the
Partnership.  The Partnership and its representatives may from time to time
make written or oral statements that are "forward-looking," including
statements contained in this report and other filings with the Securities
and Exchange Commission, and reports to the Partnership's shareholders and
news releases.  All statements that express expectations, estimates,
forecasts and projections are forward-looking statements within the meaning
of the Act.  In addition, other written or oral statements, which
constitute forward-looking statements, may be made by or on behalf of the
Partnership.  Words such as "expects," "anticipates," "intends," "plans,"
"believes," "seeks," "estimates," "projects," "forecasts," "may," "should,"
variations of such words and similar expressions are intended to identify
such forward-looking statements.  These statements are not guarantees of
future performance and involve certain risks, uncertainties and
assumptions, which are difficult to predict.  Therefore, actual outcomes
and results may differ materially from what is expressed or forecasted in
or suggested by such forward-looking statements.  The Partnership
undertakes no obligation to update publicly any forward-looking statements,
whether as a result of new information, future events or otherwise.



<PAGE>
I.  FINANCIAL INFORMATION

Item 1.  Financial Statements

BALANCE SHEETS
--------------
<TABLE>
<CAPTION>
                                             (unaudited)
                                               June 30,        December 31,
                                                2005               2004
                                             -----------       ------------
<S>                                           <C>                <C>
ASSETS

Investments:
 Equity investments (cost of
  $2,355,121 and $2,165,201 as of
  June 30, 2005, and December 31, 2004,
  respectively)                               $  842,024         $2,131,156
Cash and cash equivalents                         74,181          1,881,324
Prepaid expenses                                  81,366            100,159
Due from related party, net                      627,988                 --
Other assets                                          --              4,352
                                               ---------          ---------
   Total assets                               $1,625,559         $4,116,991
                                               =========          =========
LIABILITIES AND PARTNERS' CAPITAL

Accounts payable and accrued expenses         $   23,765         $   21,274
Due to related parties, net                           --             39,165
Other liabilities                                  3,353              3,353
                                               ---------          ---------
   Total liabilities                              27,118             63,792

Commitments and contingencies (See Note 7)

Partners' capital
  Limited Partners
    (400,000 Units outstanding)                3,397,990          5,368,351
  General Partners                            (1,799,549)        (1,315,152)
                                               ---------          ---------
Total partners' capital                        1,598,441          4,053,199
                                               ---------          ---------
   Total liabilities and partners' capital    $1,625,559         $4,116,991
                                               =========          =========
</TABLE>

The accompanying notes are an integral part of these financial statements.



STATEMENTS OF INVESTMENTS
-------------------------
<TABLE>
<CAPTION>
                                         Principal
                                         Amount or    June 30, 2005          December 31, 2004
Industry                                 Shares at   ----------------        -----------------
(1)                         Investment    June 30,   Cost       Fair         Cost        Fair
Company           Position     Date        2005      Basis      Value        Basis       Value
-------------     --------  ----------  -----------  -----      -----        -----       -----
<S>                <C>         <C>      <C>         <C>        <C>          <C>        <C>

Equity Investments
------------------

Environmental
-------------
0.0% and 0.0% at June 30, 2005, and December 31, 2004, respectively
---------------------------------------------------------------------
Triangle
 Biomedical        Common
 Sciences, Inc.(a) shares and
                   attached
                   warrants at
                   $28.00;
                   expiring
                   2009         1999         366   $  10,614          0   $  10,614          0
                                                   ---------  ---------   ---------  ---------






STATEMENTS OF INVESTMENTS (continued)
-------------------------------------------

Medical/Biotechnology
---------------------
7.8% and 10.2% at June 30, 2005, and December 31, 2004, respectively
---------------------------------------------------------------------
Sanarus Medical,   Preferred    1999-
 Inc. (a) (b)      shares       2005    1,152,227    947,670    124,446     647,616    268,860
Various
 investments       various      various                   --         --     110,133    143,092
                                                   ---------  ---------   ---------  ---------
                                                     947,670    124,446     757,749    411,952
                                                   ---------  ---------   ---------  ---------
Retail / Consumer Products
--------------------------
40.3% and 39.8% at June 30, 2005, and December 31, 2004, respectively
--------------------------------------------------------------------
Dakota             LLC
 Holdings, LLC (a) units        2003     879,638     879,638    615,747     879,638  1,539,367
Various
 Investments       various      2004      43,744      72,503     29,020      72,503     72,528
                                                    --------  ---------   ---------  ---------
                                                     952,141    644,767     952,141  1,611,895
                                                    --------  ---------   ---------  ---------

Venture Capital Limited Partnership Investments
-----------------------------------------------
4.6% and 2.6% at June 30, 2005, and December 31, 2004, respectively
-------------------------------------------------------------------
Various           Ltd.
 investments      partnership
                  interests     various  various     444,696     72,811     444,697    107,309
                                                    --------  ---------    --------   --------
STATEMENTS OF INVESTMENTS (continued)
-------------------------------------------

Total investments - 52.7% and 52.6% at
 June 30, 2005, and December 31, 2004,
 respectively                                     $2,355,121  $ 842,024  $2,165,201 $2,131,156
                                                   =========  =========   =========  =========

Legends and footnotes:

--  No investment held at end of period.
 0  Investment active with a cost basis or fair value of zero.

(a) Equity security acquired in a private placement transaction; resale may be subject to
certain selling restrictions.
(b) Portfolio company is an affiliate of the Partnership; resale may be subject to certain
selling restrictions.

(1) Represents the total fair value of a particular industry segment as a percentage of
partners' capital at 06/30/05 and 12/31/04.

(2) The Partnership has no income-producing equity investments except for convertible notes,
which include accrued interest.  Interest rates on such notes are 3.21 percent.
</TABLE>

The accompanying notes are an integral part of these financial statements.


STATEMENTS OF OPERATIONS (unaudited)
-----------------------------------
<TABLE>
<CAPTION>
                                               For the Three Months           For the Six Months
                                                  Ended June 30,                Ended June 30,
                                               --------------------           ------------------
                                               2005           2004            2005          2004
                                              ------         ------          ------        ------
<S>                                        <C>           <C>             <C>           <C>
Investment income:
 Notes receivable interest                        --      $     417              --    $      833
 Short-term investment interest and other        645             10             645           477
                                             -------      ---------       ---------     ---------
  Total investment income                        645            427             645         1,310

Investment expenses:
 Management fees                               8,603         12,789          19,457        23,212
 Individual General Partners' compensation    13,000         18,000          30,000        30,125
 Investment operations                       105,058         28,004         129,967       180,593
 Administrative and investor services        168,567        208,309         378,150       830,417
 Professional fees                            50,032         16,532         104,596        31,422
 Computer services                            23,155         46,617          50,398        85,394
 Bad debt expense                            352,545             --         352,545            --
 Interest expense                                 --          3,928              --         7,719
                                             -------      ---------       ---------     ---------
  Total investment expenses                  720,960        334,179       1,065,113     1,188,882
                                             -------      ---------       ---------     ---------
Net investment loss                         (720,315)      (333,752)     (1,064,468)   (1,187,572)
                                             -------      ---------       ---------     ---------



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

 Realized gain from recovery of
  investments previously written off              --             --              --        98,111
 Realized gain from sales of equity
  investments                                 16,790             --          88,762       148,599
 Realized loss from venture capital
  limited partnership write-off                   --             --              --      (330,335)
 Realized loss from investment
  write-off                                       --       (619,687)             --      (619,687)
 Realized gain from venture capital
  limited partnership investments                 --             --              --            --
                                             -------      ---------       ---------     ---------
Net realized income (loss)                    16,790       (619,687)         88,762      (703,312)
                                             -------      ---------       ---------     ---------
(Increase) decrease in unrealized
 depreciation:
  Equity investments                      (1,135,446)       487,322      (1,479,052)      912,153
  Notes receivable                                --             --              --            --
                                             -------      ---------       ---------     ---------
Net (increase) decrease in unrealized
  depreciation                            (1,135,446)       487,322      (1,479,052)      912,153
                                             -------      ---------       ---------     ---------

Net (decrease) in partners'
 capital resulting from operations       $(1,838,971)     $(466,117)    $(2,454,758)   $ (978,731)
                                           =========      =========       =========     =========
Net (decrease) in partners'
 capital resulting from operations
 per Unit                                $     (3.70)     $   (0.93)    $     (4.93)   $    (1.96)
                                             =======      =========       =========     =========
</TABLE>

The accompanying notes are an integral part of these financial statements.


<PAGE>
STATEMENTS OF CASH FLOWS (unaudited)
-----------------------------------
<TABLE>
<CAPTION>
                                        For the Six Months Ended June 30,
                                        ---------------------------------
                                             2005               2004
                                          ----------         ----------
<S>                                       <C>               <C>
Net decrease in partners'
 capital resulting from operations         (2,454,758)        (978,731)

Adjustments to reconcile decrease
 in partners' capital resulting
 from operations to net cash used
 by operating activities:
  Bad debt expense                            352,545               --
  Realized gain from venture capital
   limited partnership investments                 --               --
  Net realized gain on the sale of
   equity investments                         (88,762)        (148,599)
  Net realized gain on the recovery
   of investments previously written off           --          (98,111)
  Net realized loss from the write-off
   of venture capital limited
   partnership investments                         --          330,335
  Net realized loss from the write-off
   of equity investments                                       619,687
  Net decrease in unrealized
   depreciation of equity investments       1,479,052         (912,153)
  Net changes in operating assets and
   liabilities:
   Unrealized depreciation of
    notes receivable                               --               --
   Accrued interest on notes receivable            --             (832)
   Prepaid expenses                            18,793           20,022
   Other receivable                                --           73,778
   Due from related parties, net           (1,019,698)              --
   Due to related parties                          --          718,197
   Accounts payable and accrued
    expenses                                    2,491          (37,324)
   Other changes, net                           4,352          (19,490)
                                              -------         ---------
Net cash used by
 operating activities                      (1,705,985)        (433,221)
                                              -------         ---------


STATEMENTS OF CASH FLOWS (unaudited)(continued)
----------------------------------------------

Cash flows from investing activities:
 Purchase of equity investments              (300,000)              --
 Proceeds from venture capital
  limited partnership investments                  --               --
 Proceeds from the sale of equity
  investments                                 198,84           196,516
Proceeds from the recovery of investments
 previously written off                            --           98,111
                                             --------        ---------
Net cash (used) provided by investing
 activities                                  (101,158          294,627
                                             --------        ---------

Cash flows from financing activities:
 Short-term borrowings                             --           32,235
                                            ---------        ---------

Net cash provided by financing
 Activities                                        --           32,235
                                            ---------        ---------

Net (decrease) in cash
 and cash equivalents                      (1,807,143)        (106,359)

Cash and cash equivalents at
 beginning of year                          1,881,324          109,664
                                             --------        ---------

Cash and cash equivalents
 at June 30                                   $ 74,18        $   3,305
                                              =======        =========

</TABLE>







The accompanying notes are an integral part of these financial statements.



<PAGE>
NOTES TO FINANCIAL STATEMENTS (unaudited)
----------------------------------------

1.     Interim Financial Statements
       ----------------------------

The accompanying unaudited financial statements included herein have been
prepared in accordance with the requirements of Form 10-Q and, therefore,
do not include all information and footnotes, which would be presented,
were such financial statements prepared in accordance with generally
accepted accounting principles in the United States of America.  These
statements should be read in conjunction with the Annual Report on Form 10-
K for the year ended December 31, 2004.  In the opinion of the Managing
General Partners, the accompanying interim financial statements reflect all
adjustments necessary for the fair presentation of the financial position,
results of operations, and cash flows for the interim periods presented.
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.  The results of operations for such interim
periods are not necessarily indicative of results of operations to be
expected for the full year.

2.     Uncertain Future of the Partnership
       -----------------------------------

The uncertainties arising from the timing of future liquidation events
raise substantial doubt about the Partnership's ability to continue as a
going concern.  The accompanying interim financial statements do not
include any adjustments that might result from the outcome of these
uncertainties.  The Partnership has been advised by its certified
independent public accountants that should the uncertainties surrounding
the Partnership's future operations remain unresolved at year-end, their
report on those financial statements will be modified for that contingency.

3.     Provision for Income Taxes
       --------------------------

No provision for income taxes has been made by the Partnership, as the
Partnership is not directly subject to taxation.  The partners are to
report their respective shares of Partnership income or loss on their
individual tax returns.

The accompanying financial statements are prepared using accounting
principles generally accepted in the United States of America, which may
not equate to tax accounting.  The cost of investments on a tax basis at
June 30, 2005, and December 31, 2004, was $2,956,968 and $2,810,768,
respectively.  At June 30, 2005, and December 31, 2004, gross unrealized
depreciation on investments based on cost for federal income tax purposes
was as follows:

<TABLE>
<CAPTION>
                                         June 30,    December 31,
                                          2005           2004
                                      ------------   ------------
<S>                                   <C>            <C>
Unrealized appreciation               $     8,555    $   717,774
Unrealized depreciation                (2,123,497)    (1,397,384)
                                        ---------      ---------
Net unrealized depreciation           $(2,114,942)   $  (679,610)
                                        =========      =========

</TABLE>

4.     Related Party Transactions
       --------------------------

Related party costs are included in investment expenses shown on the
Statements of Operations.  Related party costs for the six months ended
June 30, 2005 and 2004, were as follows:

<TABLE>
<CAPTION>
                                                  2005          2004
                                                --------      --------
  <S>                                         <C>             <C>
   Management fees                             $  19,457    $   23,212
   Individual General Partners' compensation      30,000        30,125
   Reimbursable operating expenses               663,111     1,112,100

</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 $178,751 and $259,835 due to related
parties at June 30, 2005, and December 31, 2004, respectively, for such
expenses.

Management fees due to the Managing General Partners and included in due to
related parties, were $2,866 and $3,924 at June 30, 2005, and December 31,
2004, respectively.

Fees due to the Independent General Partners and included in due from
related parties, net were $13,000 and $0 at June 30, 2005 and December 31,
2004, respectively.

As of June 30, 2005 and December 31, 2004, the Partnership has a due from
related party receivable of $1,175,150 and $224,594, respectively, related
to its investment in Dakota Holdings, LLC.  The Partnership has advanced
funds to the company for operations.  It is the Managing General Partners'
expectation that all or a portion of this receivable will be converted into
additional equity investments.  Management periodically reviews the
receivable for collectibility.  Based on this review, management has
recorded a reserve on the receivable of $352,545 as of June 30, 2006.
There was no such reserve as of December 31, 2004.

Officers of the Managing General Partners occasionally receive stock
options as compensation for serving on the Boards of Directors of portfolio
companies.  It is the Managing General Partners' policy that all such
compensation be transferred to the investing partnerships.  If the options
are non-transferable, they are not recorded as an asset of the Partnership.
Any profit from the exercise of such options will be transferred if and
when the options are exercised and the underlying stock is sold by the
officers.  Any such profit is allocated amongst the Partnership and
affiliated partnerships based upon their proportionate investment in the
portfolio company.  One of the Managing General Partners serves as interim
CEO and Chairman of the Board for Dakota Arms, Inc., a portfolio company.
The Managing General Partner does not receive any compensation for these
services.

Retention bonuses were offered to and accepted by key employees of the
Managing General Partners during 2002. The bonuses, incremented by annual
salary increases, will be paid to those individuals who are still full-time
employees of the Managing General Partners in April 2007.  The expense for
the bonus is recognized ratably over the beneficial period, October 2002 to
April 2007.  As of June 30, 2005, the Partnership has recognized expense of
$100,115.  No adjustment to the retention bonus amount previously paid by
the Partnership is made upon the resignation of personnel.  The Managing
General Partners may adjust the retention bonus amount when a replacement
person is hired.

5.     Equity Investments
       ------------------

All investments are valued at fair value as determined in good faith by the
Managing General Partners.

Restricted Securities
---------------------

At June 30, 2005, and December 31, 2004, restricted securities had
aggregate costs of $2,355,121 and $2,165,201, respectively, and aggregate
fair values of $842,024 and $2,131,156, respectively, representing 52.7
percent and 52.6 percent, respectively, of the net assets of the
Partnership.

Significant purchases or sales of equity investments during the six months
ended June 30, 2005, were as follows:

Corautus Genetics Inc.
----------------------

In March 2005, the Partnership excerised a common stock warrant and
received 14,550 shares.  Subsequently, all the shares were sold for
proceeds of $58,348, resulting in a realized gain of $58,348.

Phase Forward Inc.
------------------

In March 2005, the Partnership received a stock distribution in the company
from Onset Enterprises Associates, L.P., a venture capital limited
partnership.  Subsequently, the Partnership sold its holdings in the
company for proceeds of $13,625 and recorded a realized gain of $13,625.

Sanarus Medical, Inc.
---------------------

In January 2005, the Partnership purchased 375,939 Series D Preferred
shares at a cost of $300,000.

Laser Diagnostic Technologies
-----------------------------

In April 2005, the Partnership sold its entire position in the company for
proceeds of $126,869, resulting in a realized gain of $16,790.

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

Other significant changes reflected in the Statements of Investments relate
to market value fluctuations for publicly traded portfolio companies or
changes in the fair value of private companies as determined in accordance
with the policy described in Note 1 to the financial statements included in
the Partnership's December 31, 2004, Form 10-K.

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

Cash and cash equivalents at June 30, 2005, and December 31, 2004,
consisted of demand accounts totaling $74,181 and $1,881,324,
respectively.

7.     Commitments and Contingencies
       -----------------------------

From time to time the Partnership becomes 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 investment
fundings, equipment financing commitments, or accounts receivable lines of
credit that are outstanding but not currently fully utilized by a borrowing
company.  As they do not represent current outstanding balances, these
unfunded commitments are not recognized in the financial statements.  At
June 30, 2005, there were no unfounded commitments.

From time to time, the Partnership is subject to routine litigation
incidental to the business of the Partnership.  Although there can be no
assurances as to the ultimate disposition of these matters and the
proceeding disclosed above, it is the opinion of the Managing General
Partners, based upon the information available at this time, that the
expected outcome of these matters, individually or in the aggregate, will
not have a material adverse effect on the results of operations and
financial condition of the Partnership.

8.     Financial Highlights
       --------------------
<TABLE>
<CAPTION>
                                    For The Six Months Ended June 30,
                                    ---------------------------------
                                           2005          2004
                                          ------        ------
<S>                                        <C>          <C>
(all amounts on a per Unit basis)
Net asset value,
 beginning of period                      $13.42        $2.97

(Loss) from investment operations:
  Net investment loss                      (2.13)       (2.38)
  Net realized and unrealized
   gain on investments                     (2.80)         .42
                                            ----         ----
  Total from investment operations         (4.93)       (1.96)
                                            ----         ----
Net asset value, end of period             $8.49       $ 1.01
                                            ====         ====
Total return                              (36.70)%     (65.96)%

Ratios to average net assets:
 Net investment loss                      (19.43)%    (119.42)%
 Expenses                                 (24.29)%     149.43%

</TABLE>

Pursuant to the Partnership Agreement, net profit shall be allocated first
to those Partners with deficit capital account balances until such deficits
have been eliminated.  The net asset values shown above assume the
Partnership is in liquidation.  Upon liquidation, the General Partners
would contribute capital equal to the amount of the Limited Partners'
deficit. As of June 30, 2005 and December 31, 2004, the General Partners
have a negative capital balance of $1,799,549 and $1,315,152, respectively.

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

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

The Partnership operates as a business development company under the
Investment Company Act of 1940 and makes venture capital investments in new
and developing companies.  The Partnership's financial condition is
dependent upon the success of the portfolio companies.  There is no ready
market for many of the Partnership's investments.  It is possible that some
of its venture capital investments may be a complete loss or may be
unprofitable and that others will appear likely to become successful, but
may never realize their potential.  The valuation of the Partnership's
investments in securities for which there are no available market quotes is
subject to the estimate of the Managing General Partners in accordance with
the valuation guidance described in Note 1 to the financial statements
included in the Partnership's Form 10-K for the year ended December 31,
2004.
In the absence of readily obtainable market values, the estimated fair
value of the Partnership's investments may differ significantly from the
values that would have been used had a ready market existed.

The Partnership continues to experience decreases in partners' capital
resulting from overall market declines and from operations.  For the six
months ended June 30, 2005, the Partnership incurred a net decrease in
partners' capital of $2,454,758 .  In addition, the Partnership's liquid
assets, including unrestricted marketable equity investments, are not
adequate to fund ongoing operations of the Partnership for 2005.  These
factors, among others, raise substantial doubt about the Partnership's
ability to continue as a going concern.  As a result, the Independent
General Partners have tasked the Managing General Partners with examining a
number of different options, including the possible early sale of some of
the Partnership's private holdings. The accompanying financial statements
do not include any adjustments that might result from the outcome of these
uncertainties.

During the six months ended June 30, 2005, net cash used by operating
activities totaled $1,705,985.  The Partnership paid management fees of
$20,515 to the Managing General Partners and reimbursed related parties for
operating expenses of $744,195.  Advances of $950,556 were made to Dakota
Arms during the period.  In addition, $17,000 was paid to the Individual
General Partners as compensation for their services.  Interest income of
$331 was received.  Other net receipts were $25,950.

Cash and cash equivalents at June 30, 2005, were $74,181.  Given the
inherent risk associated with the business of the Partnership, the future
performance of the portfolio company investments may significantly impact
future operations.

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

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

Net decrease in partners' capital resulting from operations was $1,838,971
for the quarter ended June 30, 2005, compared to a net decrease in
partners' capital resulting from operations of $466,117 for the same period
in 2004.

Net unrealized depreciation on equity investments was $1,513,097 and
$34,045 at June 30, 2005 and December 31, 2004, respectively.  During the
quarter ended June 30, 2005, the Partnership recorded a decrease in net
unrealized depreciation on equity investments of $1,135,446 compared to a
decrease in net unrealized depreciation of $487,322 during the same period
in 2004.  The change in 2005 was due primarily to a change in the fair
value of privately held securities.  The change in 2004 was due to
decreases in the publicly traded prices of the Partnership's marketable
equity securities.

During the quarter ended June 30, 2005 and 2004, there were no realized
gains from venture capital limited partnership investments.

Total investment expenses were $720,960 and $334,179 for the quarters ended
June 30, 2005 and 2004, respectively. The increase was primarily due to an
increased valuation reserve on the Dakota Holdings receivable.

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

Net decrease in partners' capital resulting from operations was $2,454,758
for the six months ended June 30, 2005, compared to a net increase in
partners' capital resulting from operations of $978,731 for the same period
in 2004.

Net unrealized depreciation on equity investments was $1,513,097 at June
30, 2005, compared to net unrealized depreciation of $34,045 at December
31, 2004.  During the six months ended June 30, 2005, the Partnership
recorded an increase in net unrealized depreciation on equity investments
of $1,479,052 compared to a decrease in net unrealized depreciation of
$912,153 during the same period in 2004.  The change in 2005 was due
primarily to a change in the fair value of privately held securities.  The
change in 2004 was due to the increase in the fair values of privately held
companies in the environmental and medical/biotechnology industries.

Total investment expenses were $1,065,113 and $1,188,882 for the six months
ended June 30, 2005 and 2004, respectively.  The decrease was primarily due
to decreased investment monitoring, computer services, and administrative
services, partially offset by an increased valuation reserve on the Dakota
Holdings receivable.

During the six months ended June 30, 2004, there were no realized gains or
losses from venture capital limited partnership investments.

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

Item 4.   Controls and Procedures

The undersigned is responsible for establishing and maintaining disclosure
controls and procedures for Technology Funding Venture Partners IV, An
Aggressive Growth Fund, L.P.  Such officer has concluded (based upon his
evaluation of these controls and procedures as of a date within 90 days of
the filing of this report) that Technology Funding Venture Partners IV, An
Aggressive Growth Fund, L.P.'s disclosure controls and procedures are
effective to ensure that information required to be disclosed by Technology
Funding Venture Partners IV, An Aggressive Growth Fund, L.P. in this report
is accumulated and communicated to Technology Funding Venture Partners IV,
An Aggressive Growth Fund, L.P.'s management, including its principal
executive officers as appropriate, to allow timely decisions regarding
required disclosure.

The certifying officer also has indicated that there were no significant
changes in Technology Funding Venture Partners IV, An Aggressive Growth
Fund, L.P.'s internal controls or other factors that could significantly
affect such controls subsequent to the date of their evaluation other than
changes needed to maintain adequate separation of duties and
responsibilities of personnel in the ordinary course of business, and there
were no corrective actions with regard to significant deficiencies and
material weaknesses.





<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.
                              TECHNOLOGY FUNDING LTD.
                              Managing General Partners




Date:  August 15, 2005    By:     /s/Charles R. Kokesh
                               --------------------------------
                                     Charles R. Kokesh
                                     President, Chief Executive
                                     Officer, Chief Financial
                                     Officer and Chairman of
                                     Technology Funding Inc. and
                                     Managing General Partner of
                                     Technology Funding Ltd.






Technology Funding Venture Partners IV, L.P.
(a Delaware limited partnership)
Page 16 of 21

Technology Funding Venture Partners IV, L.P.
(a Delaware limited partnership)