13D Filing: Etude Capital and Renn Global Entrepreneurs Fund, Inc. (RCG)

Item 2 is hereby amended and restated to read as follows:

(a)

This statement is filed by:

(i)

Davenforth Fundamental Investments, LP

(ii)

Davenforth, LLC, a Texas limited liability (“Davenforth”), which serves as the general partner of Davenforth Fundamental Investments, LP;

(iii)

Etude Capital, LLC, a Texas limited liability company (“Etude Capital”);

(iv)

Steven Stein, who serves as the managing member of Etude Capital;

(v)

Bradley Roofer who serves as co-director of Davenforth, LLC and Davenforth Fundamental Investments, LP;

(vi)

Logan Brown who serves as co-director of Davenforth, LLC and Davenforth Fundamental Investments, LP;

(vii)

Chase Investment Counsel Corp, an investment advisor based in Charlottesville, VA.

(viii)

Derwood S. Chase Jr., who serves as a director at Chase Investment Counsel Corp;

(b) The address of the principal office of Etude Capital and Mr. Stein is 800 West 26^th STE404, Austin, TX 78705. The address of the principal office of each of Davenforth LLC, Davenforth Fundamental Investments LP, Mr. Brown and Mr. Roofner is 4006 N Lamar Blvd, Austin, TX, 78756. The address of the principal office of Chase Investment Counsel and Mr. Chase is 300 Preston Ave #500 Charlottesville, VA 22902.

(c) The principal business of Davenforth Fundamental Investments is investing in securities. The principal business of Davenforth LLC is serving as the general partner of DFI. The principal occupation of Mr. Brown and Mr. Roofner is serving as the managing members of each of Davenforth LLC. The principal business of Etude Capital is investing in securities. The principal occupation of Mr. Stein is serving as the sole shareholder and sole director of each of Etude Capital LLC. The principal business of Chase Investment Counsel Corp is investing in securities.  The principal occupation of Mr. Chase is serving as a director of Chase Investment Counsel Corp.

(d) (e) During the last five years, none of the Reporting Persons (i) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

(f)  Messrs. Stein, Roofner, Brown, and Chase are citizens of the United States of America.

Item 3.

Source and Amount of Funds or Other Consideration

The Funds can not disclose investment basis without undue effort. The Funds used their own investment capital to acquire the 512,800 shares of Common Stock held by them.

The Reporting Persons and Funds may effect purchases of shares of Common Stock through margin accounts maintained for them with brokers, which extend margin credit as and when required to open or carry positions in their margin accounts, subject to applicable federal margin regulations, stock exchange rules and such firms’ credit policies. Positions in shares of Common Stock may be held in margin accounts and may be pledged as collateral security for the repayment of debit balances in such accounts. Such margin accounts may from time to time have debit balances. In addition, since other securities may be held in such margin accounts, it may not be possible to determine the amounts, if any, of margin used to purchase shares of Common Stock.

Item 4.

Purpose of Transaction

The Reporting Persons originally acquired their shares of Common Stock subject to this Schedule 13D for investment purposes. In addition to discussions with the Issuer’s Board of Directors (the “Board”) and management team, the Reporting Persons may also engage in a dialogue and other communications regarding the Issuer with other stockholders of the Issuer, knowledgeable industry or market observers or other persons. Any such discussions may relate to, among other things, the Issuer’s operating strategies, performance, management succession plans and corporate governance matters.