SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

~~May~~August 1415, 2001 Date of Report (Date of earliest event reported)

POINT WEST CAPITAL CORPORATION
( Exact name of registrant as specified in its charter)

Delaware	0-27736	94-3165263
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1700 Montgomery Street, Suite 250, San Francisco, CA 94111
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (415)394-9467

Item 5. Other Events

On ~~May~~August 1415, 2001 Point West Capital Corporation issued a press release announcing ~~first~~Second quarter results and finaical condition ~~and appointment of new Chief Financial Officer~~.

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

99.1 Text of Press Release dated ~~May~~August 1415, 2001.

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 thereunto duly authorized.

POINT WEST CAPITAL CORPORATION

By: /s/ John Ward Rotter

John Ward Rotter

Chief Executive Officer

Date: ~~May~~August 16, 2001

EXHIBIT INDEX

Exhibit Number Document Description ~~Sequential Page Number 99.1 Text of Press Release dated May 14, 2001 5~~

~~FOR IMMEDIATE RELEASE~~ Sequential ~~May 14, 2001~~ Page

~~POINT WEST CAPITAL CORPORATION ANNOUNCES FIRST QUARTER RESULTS AND FINANCIAL CONDITION AND APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER~~ Number

~~SAN FRANCISCO (May 14, 2001) Point West Capital Corporation (OTC Symbol: PWCC~~99.~~OB) today reported the following:~~1

Text of Press Release dated August 15, 2001

5

FOR IMMEDIATE RELEASE
August 15, 2001

POINT WEST CAPITAL CORPORATION
ANNOUNCES SECOND QUARTER RESULTS
AND FINANCIAL CONDITION

SAN FRANCISCO --(August 15, 2001) Point West Capital Corporation (OTC Symbol: PWCC.OB) today reported the following:

(Dollars in thousands, except per share amounts)

	Three Months Ended	~~Three Months Ended~~			Six Months Ended
		March 31,
	June, 30				June, 30
		2000		2001
		2001		2000		2001		2000
Loss before extraordinary gain	$	(41,~~079~~484)	$	(3,343)	~~(84)~~$	(5,563)	$	(3,427)
Extraordinary gain	$	--	$	--	~~1,242~~$	--	$	1,242
Net (loss) income	$	(4,079)	$		1,158
Net Loss	$	(1,484)	$	(3,343)	$	(5,563)	$	(2,185)
Loss per share before extraordinary gain:
Basic	$	(10.2244) (1)	$	(1.00) (1)	~~(0.02) (2)~~$	(1.66) (1)	$	(1.02) (2)
Diluted	$	(10.2244) (1)	$	(1.00) (1)	~~(0.02) (2)~~$	(1.66) (1)	$	(1.02) (2)
Net (loss) income per share:
Net loff per share:
Basic	$	(10.2244) (1)	$	(1.00) (1)	~~0.35 (2)~~$	(1.66) (1)	$	(0.65) (2)
Diluted	$	(10.2244) (1)	$	(1.00) (1)	~~0.31 (3)~~$	(1.66) (1)	$	(0.65) (2)

(1)	Based on 3,352,624 weighted-average shares of common stock outstanding.
(2)	Based on 3,352,261 weighted-average shares of common stock outstanding.
(3)	Based on 3,751,463 weighted-average shares of common stock outstanding.

(1) Based on 3,352,624 weighted-average shares of common stock outstanding.
(2) Based on 3,352,443 weighted-average shares of common stock outstanding.

The Company reported a net loss of $4.1.5 million for the three months ended ~~March~~June 3130, 2001 compared to a net ~~income~~loss of $13.23 million for the three months ended ~~March~~June 3130, 2000. The loss resulted primarily from a $~~3.4~~729,000 ~~million~~ loss on securities for the three months ended ~~March 31,~~June 30, 2001, compared to a $~~418,000~~3.3 million net ~~gain~~loss on securities for the same period in 2000. ~~Results~~ for the three-month period ended March 31, 2000 included the positive effects of (i) a $1.2 million extraordinary gain, net of income taxes of $822,000, related to the Company's wholly-owned viatical settlement subsidiary and (ii) $1.1 million of interest income recognized in connection with a warrant received during the first quarter of 2000.

The Company ~~also~~reported ~~announced~~a ~~the~~net ~~appointment~~loss of ~~Joanna L~~$5.6 ~~Zesiger~~million asfor ~~Chief~~the ~~Financial~~six months ended June 30, 2001 ~~Officer.~~compared ~~Mrs.~~to ~~Zesiger~~a ~~has~~net ~~been~~loss ~~with~~of ~~the~~$2.2 ~~Company~~million for 7the ~~years~~six ~~and~~months ~~has~~ended ~~served~~June as30, ~~Treasurer~~2000. The loss ~~since~~resulted ~~1999~~primarily from a $4.1 ~~Prior~~million toloss ~~serving~~on assecurities ~~Treasurer~~for the six months ended June 30, ~~Mrs~~2001, compared to a $2.8 ~~Zesiger~~million ~~was~~net loss on securities for the ~~Company’s~~same ~~Controller~~period in 2000. ~~Before~~Results ~~joining~~for ~~Point~~the ~~West~~six-month ~~Capital,~~period ~~Mrs.~~ended ~~Zesiger~~June ~~worked~~30, as2000 aincluded ~~Senior~~the ~~Research~~positive ~~Associate~~effects ~~for~~of (i) ~~Kidder,~~a ~~Peabody~~$1.2 ~~Mrs.~~million ~~Zesiger~~extraordinary isgain, anet ~~California~~of ~~native~~income ~~and~~taxes ~~received~~of ~~her~~$822,000, ~~bachelor’s~~related to the ~~degree~~Company's ~~from~~wholly-owned ~~Babson~~viatical ~~College~~settlement subsidiary, which was reported in ~~1992~~the first quarter of 2000 and ~~her~~(ii) ~~CFA~~$1.1 ~~designation~~million of interest income recognized in connection with a warrant received during the first quarter of 2000.

Point West Capital is a specialty financial services company. Further information regarding the Company, its results of operations and the other matters discussed in this press release is contained in the Company's Form 10-QSB for the quarterly period ended ~~March~~June 3130, 2001 filed with the Securities and Exchange Commission on ~~May~~August 1114, 2001.

The following is summary balance sheet information as of ~~March~~June 3130, 2001:

Cash and cash equivalents	$	2,494,600
Restricted cash	$	2,547,494
Investment Securities available-for-sale	$	75,053
Loans receivable, net of unearned income of
$599,000 and net of an allowance for loan
losses of $190,000	$	36,833,131
Purchased life insurance policies	$	29,448,620
Non-marketable securities	$	6,695,788
Total assets	$	80,995,130
Revolving certificates	$	9,059,966
Term certificates	$	23,711,908
Securitized notes payable	$	35,096,982
Debenture payable	$	6,500,000
Total liabilities	$	75,326,222
Accumulated comprehensive loss, net of tax benefit	$	(132,697)
Accumulated deficit	$	(21,459,963)
Total stockholders’ equity	$	5,668,908

Cash and cash equivalents......................................................................	$1,838,184

Restricted cash...........................................................................................	$2,572,385

Investment Securities --available-for-sale...............................................	$126,794

Loans receivable, net of unearned income of ........................................

$591,847 and net of an allowance for loan .......................................

losses of $190,000.................................................................................	$36,614,135

Purchased life insurance policies..............................................................	$28,807,889

Non-marketable securities..........................................................................	$6,006,221

Total assets..................................................................................................	$78,410,597

Revolving certificates.................................................................................	$8,982,346

Term certificates...........................................................................................	$23,532,229

Securitized notes payable...........................................................................	$34,341,464

Debenture payable.......................................................................................	$6,500,000

Total liabilities..............................................................................................	$74,173,723

Accumulated comprehensive loss, net of tax.........................................	$(80,774)

Accumulated deficit....................................................................................	$(22,943,920)

Total stockholders’ equity........................................................................	$4,236,874

(KEYWORD CALIFORNIA AND INDUSTRY KEYWORD: SPECIALTY FINANCE EARNINGS).

CONTACTS: POINT WEST CAPITAL CORPORATION, SAN FRANCISCO.
Alan B. Perper, 415/394-9467

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