content: SECURITIES AND EXCHANGE COMMISSION
                                Washington, DC 20549
  
  
                                      FORM 8-K
  
  
                               Current Report Pursuant
                            to Section 13 or 15(d) of the
                           Securities Exchange Act of 1934
  
  
          Date of report (Date of earliest event reported) October 20, 2003
  
  
                        ATEL Capital Equipment Fund VII, L.P.
                 ---------------------------------------------------
               (Exact Name of Registrant as Specified in Its Charter)
  
  
                                     California
                                    -------------
                   (State or Other Jurisdiction of Incorporation)
  
  
             000-24175                                   94-3248318
           -------------                              ----------------
      (Commission File Number)              (I.R.S. Employer Identification No.)
  
  
              600 California Street, 6th Floor, San Francisco, CA 94108
       ----------------------------------------------------------------------
                 (Address of Principal Executive Offices) (Zip Code)
  
  
                                   (415) 989-8800
                                 -------------------
                (Registrant's Telephone Number, Including Area Code)
  
  
                                         N/A
                                       ------
            (Former Name or Former Address, if Changed Since Last Report)
  
  
  <PAGE>
  
  
  Item 9.  Regulation FD Disclosure.
  
  Incorporated herein by reference is the information set forth in Exhibit 20.1 to
  this report, the Registrant's letter dated as of October 24, 2003 to its holders
  of units of limited partnership interest.
  
  
  Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
  
  (c) Exhibits
  
      Exhibit 20.1               Letter to Unit holders dated October 24, 2003
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
                                         1
  <PAGE>
  
  
                                     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 on this 20th day of October, 2003.
  
  
  
                                  ATEL Capital Equipment Fund VII, L.P.
  
                                  By ATEL Financial Services, LLC, General Partner
  
                                         By: /s/ DEAN L. CASH
                                         ------------------------------
                                         Dean L. Cash, Chief Executive Officer
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
                                         2
  
  
  <PAGE>
  
  
                                    EXHIBIT INDEX
  
  EXHIBIT                                                                PAGE NO.
  ------------                                                         -----------
  
  Exhibit 20.1       Letter to Unit holders dated October 24, 2003
metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "atel78k.txt", "description": "CURRENT REPORT", "secsgml_size_bytes": 2973}]
metadata_filer: {"company-data": {"conformed-name": "ATEL CAPITAL EQUIPMENT FUND VII LP", "cik": "0001019542", "assigned-sic": "7359", "irs-number": "943248318", "state-of-incorporation": "CA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-24175", "film-number": "03947594"}, "business-address": {"street1": "235 PINE STREET 6TH FLOOR", "city": "SAN FRANCISCO", "state": "CA", "zip": "94104", "phone": "4159898800"}, "mail-address": {"street1": "235 PINE STREET", "street2": "SIXTH FLOOR", "city": "SAN FRANCISCO", "state": "CA", "zip": "94104"}}
text: SECURITIES AND EXCHANGE COMMISSION
                                Washington, DC 20549
  
                                      FORM 8-K
  
                               Current Report Pursuant
                            to Section 13 or 15(d) of the
                           Securities Exchange Act of 1934
  
          Date of report (Date of earliest event reported) October 20, 2003
  
                        ATEL Capital Equipment Fund VII, L.P.
                 ---------------------------------------------------
               (Exact Name of Registrant as Specified in Its Charter)
  
                                     California
                                    -------------
                   (State or Other Jurisdiction of Incorporation)
  
             000-24175                                   94-3248318
           -------------                              ----------------
      (Commission File Number)              (I.R.S. Employer Identification No.)
  
              600 California Street, 6th Floor, San Francisco, CA 94108
       ----------------------------------------------------------------------
                 (Address of Principal Executive Offices) (Zip Code)
  
                                   (415) 989-8800
                                 -------------------
                (Registrant's Telephone Number, Including Area Code)
  
                                         N/A
                                       ------
            (Former Name or Former Address, if Changed Since Last Report)
  Item 9.  Regulation FD Disclosure.
  
  Incorporated herein by reference is the information set forth in Exhibit 20.1 to
  this report, the Registrant's letter dated as of October 24, 2003 to its holders
  of units of limited partnership interest.
  
  Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
  
  (c) Exhibits
  
      Exhibit 20.1               Letter to Unit holders dated October 24, 2003
  
                                         1
  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 on this 20th day of October, 2003.
  
                                  ATEL Capital Equipment Fund VII, L.P.
  
                                  By ATEL Financial Services, LLC, General Partner
  
                                         By: /s/ DEAN L. CASH
                                         ------------------------------
                                         Dean L. Cash, Chief Executive Officer
  
                                         2
  EXHIBIT INDEX
  
  EXHIBIT                                                                PAGE NO.
  ------------                                                         -----------
  
  Exhibit 20.1       Letter to Unit holders dated October 24, 2003