BILL OF SALE, ASSIGNMENT, ACCEPTANCE AND ASSUMPTION AGREEMENT

Exhibit 99.1

BILL OF SALE, ASSIGNMENT, ACCEPTANCE
AND ASSUMPTION AGREEMENT

This BILL OF SALE, ASSIGNMENT, ACCEPTANCE AND ASSUMPTION AGREEMENT, made,
executed and entered into as of December 29, 2006, by and among Technology
Funding Partners III Liquidating Trust (the "Assignor" or the "Trust") and
Technology Funding Ltd., (the "Assignee") or its nominees, including but
not limited to Technology Funding Group, LLC and/or Dakota Equities, LLC.

R E C I T A L S

WHEREAS, the Liquidating Trust Agreement requires the Trustee, in its sole
discretion, to liquidate the assets of the Trust as promptly as possible
consistent with obtaining fair value for such assets; and

WHEREAS, the Trustee is hereby authorized to cause the Trust to sell or
distribute assets to the Trustee or associated entity but only in
accordance with Section 3.6 of the Liquidating Trust Agreement; and

WHEREAS, pursuant to Section 3.6, the Trustee accepted a bona fide third-party
bid on October 26, 2006, from Industry Ventures Acquisition Fund II
(Aperture), L.P. ("IVAF") and Industry Ventures Fund IV, L.P. ("IVF") for the
acquisition and transfer of most of the Trust's remaining portfolio
securities, excluding holdings in the following companies and venture capital
limited partnerships:
CareCentric Solutions, Inc.
Dakota Arms, Inc.
Dakota Holdings, LLC
Impres Medical, Inc.
Triangle Biomedical Sciences, Inc.
Batterson, Johnson and Wang Limited Partnership
Columbine Venture Fund II, L.P.
Delphi Ventures, L.P.
Medical Science Partners, L.P.
O, W&W Pacrim Investments Limited
Trinity Ventures IV, L.P.; and

WHEREAS, pursuant to Section 3.6, in the event that no bona fide offers are
received after sixty (60) days of a thorough and diligent marketing effort
commencing with the decision to liquidate the Partnership's assets, the
Trustee or an associated entity may purchase the assets at a price no less
than the current Fair Value; and

WHEREAS, an independent third-party investment bank, Burnham Securities
Inc., did conduct such a thorough and diligent marketing effort and has
been unable to identify any buyers for the remaining assets.

WHEREAS, pursuant to Section 3.6, the Managing General Partners have
periodically updated and revised the Fair Value of each holding in order
to reflect new events, changing market conditions, more exper