RENN Fund, Inc. (the Fund) is a non-diversified, closed-end management investment company. The investment objective of the Fund is to provide its shareholders primarily with long-term capital appreciation by investing substantially in privately placed convertible and equity securities of emerging growth companies traded on the United States securities exchanges. The Fund seeks to achieve capital appreciation potential by investing in equity securities and convertible issues of small and medium size companies. It invests in various industries, including communication services; surgical and medical instruments and apparatus; telecommunications; crude petroleum and natural gas, and medical chemicals and botanical products. RENN Capital Group, Inc. is the investment advisor of the Fund.