<SUBMISSION>
<ACCESSION-NUMBER>0001080731-07-000003
<TYPE>5
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20061231
<FILING-DATE>20070214
<DATE-OF-FILING-DATE-CHANGE>20070214
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>CLEVELAND RUSSELL
<CIK>0001132090
</OWNER-DATA>
<FILING-VALUES>
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<ACT>34
<FILE-NUMBER>033-75758
<FILM-NUMBER>07624724
</FILING-VALUES>
<MAIL-ADDRESS>
<STREET1>8080 N CENTRAL EXPWY
<STREET2>STE 210 LB 59
<CITY>DALLAS
<STATE>TX
<ZIP>75206
</MAIL-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>RENAISSANCE CAPITAL GROWTH & INCOME FUND III INC
<CIK>0000919567
<IRS-NUMBER>752533518
<STATE-OF-INCORPORATION>TX
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>8080 N CENTRAL EXPRWY
<STREET2>STE 210 LB59
<CITY>DALLAS
<STATE>TX
<ZIP>75206
<PHONE>2148918294
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>8080 N CENTRAL EXPWY., SUITE 210 LB 59
<CITY>DALLAS
<STATE>TX
<ZIP>75206
</MAIL-ADDRESS>
</ISSUER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
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<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
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    <footnotes>
        <footnote id="F1">These shares were acquired through the Fund's dividend reinvestment program.</footnote>
        <footnote id="F2">These shares are held by The Cleveland Family L.P. of which Russell Cleveland is a limited partner.</footnote>
        <footnote id="F3">These shares are held by RENN Investment Limited Partnership, of which CEJ, Inc. is the general partner. Russell Cleveland is the majority shareholder of CEJ, Inc.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Russell Cleveland</signatureName>
        <signatureDate>2007-02-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SUBMISSION>
