-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Gd57dTOAUZg1taIfv4wcOl2uNUB7+yA/HVWhvx0QeJM4ZMUV/joOD7VbIyCkmYeO
 C0qv/GMWVQT4K2NoQqnYDQ==

<SEC-DOCUMENT>0001005477-07-003235.txt : 20070524
<SEC-HEADER>0001005477-07-003235.hdr.sgml : 20070524
<ACCEPTANCE-DATETIME>20070524173704
ACCESSION NUMBER:		0001005477-07-003235
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070522
FILED AS OF DATE:		20070524
DATE AS OF CHANGE:		20070524

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CLEVELAND RUSSELL
		CENTRAL INDEX KEY:			0001132090

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11701
		FILM NUMBER:		07877909

	MAIL ADDRESS:	
		STREET 1:		8080 N CENTRAL EXPWY
		STREET 2:		STE 210 LB 59
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75206

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			RENAISSANCE CAPITAL GROWTH & INCOME FUND III INC
		CENTRAL INDEX KEY:			0000919567
		IRS NUMBER:				752533518
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		8080 N CENTRAL EXPRWY
		STREET 2:		STE 210 LB59
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75206
		BUSINESS PHONE:		2148918294

	MAIL ADDRESS:	
		STREET 1:		8080 N CENTRAL EXPWY., SUITE 210 LB 59
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75206
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar123.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-05-22</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000919567</issuerCik>
        <issuerName>RENAISSANCE CAPITAL GROWTH &amp; INCOME FUND III INC</issuerName>
        <issuerTradingSymbol>RCG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001132090</rptOwnerCik>
            <rptOwnerName>CLEVELAND RUSSELL</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>8080 N. CENTRAL EXPRESSWAY</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 210</rptOwnerStreet2>
            <rptOwnerCity>DALLAS</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75206</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President and CEO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-05-22</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>2995</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>9.00</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2995</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>Shares held by RENN Capital Group, Inc.</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Mr. Cleveland is the President, CEO and majority shareholder of RENN Capital Group, Inc. and may be deemed to be the beneficial owner of the shares.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Russell Cleveland</signatureName>
        <signatureDate>2007-05-25</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----