I don't think you will find a tripod that fits that description.
The closest thing I could find is the Sunpack Fieldmaster LE.
2.2 pounds, folded length 21"
I am looking for a small economic tripod to take backpacking with me. There are a lot of cheap tripods out there that are just simple horrid. I have bought about five different models from $15 to $25 and they all stunk. I know there are some really good ones for outrageous prices, but surely there are some middle of the road units in the $30 or $40 dollar range. I am not looking for a miracle but I do want something that does not feel like a kindergarten toy.
The main problem I have found with the ones I have bought is the head motion. Most of them were so rough to pan with that I felt like I was trying to unscrew a rusted bolt. I would really like to find one that moves smoothly because I plan to use this for pictures as well as video. Another problem is that the have all had round slip extension legs that become weaker each time you use them. They have no way to lock them in place so when the wear out they won't hold the weight of the camera anymore.
Here are the basic specs I would like my new tripod to have.
1. Smooth motion head.
2. Leveling bubble
2. 48" High fully extended.
3. Locking legs
5. Less then 14" when compacted.
5. Lightweight (2 pound or under).
If have used an economic tripod that fits these specs that you would recommend, please let me know. Thanks