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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported) December 31, 1998
Western Pennsylvania Adventure Capital Fund
(Exact name of registrant as specified in its charter)
Pennsylvania 000-21593 25-1792727
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
Scott Towne Center, Suite A-113, Pittsburgh, PA 15220-1400
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 412-279-1760
2000 Technology Drive, Suite 150, Pittsburgh, PA 15219-3109
(Former name or former address, if changed since last report.)
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Item 5. Other Events
As of December 31, 1998, The Enterprise Corporation of Pittsburgh
("Enterprise"), the Western Pennsylvania Adventure Capital Fund's ("WPACF")
investment advisor, ceased operations. Under an existing agreement, Enterprise
provided investment advisory and administrative support services to WPACF, and
WPACF paid Enterprise a one-time fee equal to 5% of the amount it invested in
each portfolio company. During 1998, WPACF incurred $37,500 in investment
advisory fees.
The WPACF is investigating alternatives to replace the services previously
provided by Enterprise. Temporarily, WPACF is handling investment advisory
services on an internal basis and has contracted externally for administrative
and support services.
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Western Pennsylvania Adventure Capital Fund
___________________________________________
(Registrant)
February 19, 1999 /s/ Alvin J. Catz
______________________________ ___________________________________________
(Date) (Signature)*
*Print name and title of signing officer under his signature.
