SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 10-Q



[X]      Quarterly Report Pursuant to Section 13 or 15(d) of the Securities
         Exchange Act of 1934

For the Quarterly Period Ended March 31, 2002

Or

[  ]     Transition Report Pursuant to Section 13 or 15(d) of the Securities
         Exchange Act of 1934

For the transition period from                  to
                             Commission file number 0-16208


                       WESTFORD TECHNOLOGY VENTURES, L.P.
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                     (Exact name of registrant as specified in its charter)


Delaware                                                      13-3423417
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(State or other jurisdiction of           (I.R.S. Employer Identification No.)
incorporation or organization)

17 Academy Street, 5th Floor
Newark, New Jersey                 07102-2905
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(Address of principal executive offices)                     (Zip Code)

Registrant's telephone number, including area code:  (973) 624-2131

Not applicable
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Former name, former address and former fiscal year, if changed since last report

     Indicate  by check mark  whether the  registrant  (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing  requirements  for  the  past  90  days.  Yes  X  No   ------------------
------------------


<PAGE>


                          WESTFORD TECHNOLOGY VENTURES, L.P.

                                      INDEX



PART I.       FINANCIAL INFORMATION

Item 1.       Financial Statements.

Balance Sheets as of March 31, 2002 (Unaudited) and December 31, 2001

Schedule of Portfolio Investments as of March 31, 2002 (Unaudited)

Statements of Operations for the Three Months Ended March 31, 2002 and 2001
(Unaudited)

Statements of Cash Flows for the Three Months Ended March 31, 2002 and 2001
(Unaudited)

Statement of Changes in Partners' Capital for the Three Months Ended
March 31, 2002 (Unaudited)

Notes to Financial Statements (Unaudited)

Item 2.       Management's Discussion and Analysis of Financial Condition and
              Results of Operations.

Item 3.       Quantitative and Qualitative Disclosure about Market Risk


PART II.      OTHER INFORMATION

Item 1.       Legal Proceedings.

Item 2.       Changes in Securities.

Item 3.       Defaults upon Senior Securities.

Item 4.       Submission of Matters to a Vote of Security Holders.

Item 5.       Other Information.

Item 6.       Exhibits and Reports on Form 8-K.



<PAGE>


                         PART I - FINANCIAL INFORMATION

Item 1.       Financial Statements.

WESTFORD TECHNOLOGY VENTURES, L.P.
BALANCE SHEETS
<table>

<c>
                                                                                       March 31, 2002          December 31,
                                                                                          (Unaudited)                2001

ASSETS

Portfolio investments at fair value (cost of $7,733,952 as of
   March 31, 2002 and December 31, 2001)                                               $      5,553,955        $      5,553,955
Cash and cash equivalents                                                                       401,426                 489,710
Accrued interest receivable                                                                      83,736                  80,803
                                                                                       ----------------        ----------------

TOTAL ASSETS                                                                           $      6,039,117        $      6,124,468
                                                                                       ================        ================


LIABILITIES AND PARTNERS' CAPITAL

Liabilities:
Accounts payable and accrued expenses                                                  $         26,017        $         36,136
Due to Management Company                                                                       188,804                 201,304
Due to Independent General Partners                                                               3,750                   7,500
                                                                                       ----------------        ----------------
   Total liabilities                                                                            218,571                 244,940
                                                                                       ----------------        ----------------

Partners' Capital:
Managing General Partner                                                                        240,593                 240,575
Individual General Partners                                                                       2,722                   2,743
Limited Partners (11,217 Units)                                                               7,757,228               7,816,207
Unallocated net unrealized depreciation of investments                                       (2,179,997)             (2,179,997)
                                                                                       ----------------        ----------------
   Total partners' capital                                                                    5,820,546               5,879,528
                                                                                       ----------------        ----------------

TOTAL LIABILITIES AND PARTNERS' CAPITAL                                                $      6,039,117        $      6,124,468
                                                                                       ================        ================
</table>

See notes to financial statements.




<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
SCHEDULE OF PORTFOLIO INVESTMENTS (Unaudited)
March 31, 2002
<table>

<c>
                                                                           Initial
                                                                         Investment
Investment Description                                                      Date                  Cost               Fair Value
-------------------------------------------------------------------------------------------------------------------------------
Inn-Room Systems, Inc.*
Automated in-room vending units for the lodging industry
15,485 shares of Common Stock                                            Oct. 1989            $    1,320,349    $         76,805
Convertible Demand Note at prime plus 1%                                                             102,940             102,940
                                                                                              --------------    ----------------
                                                                                                   1,423,289             179,745
--------------------------------------------------------------------------------------------------------------------------------
Spectrix Corporation*
Infrared data transfer technology for networks
60,547 shares of Series A Preferred Stock                                June 1989                   784,319              90,821
2,216,626 shares of Series B Preferred Stock                                                       4,261,901           3,324,940
699,256 shares of Common Stock                                                                       354,878           1,048,884
Warrants to purchase 50,000 shares of Common Stock at
   $4.00 per share, expiring 04/30/03                                                                      0                   0
                                                                                              --------------    ----------------
                                                                                                   5,401,098           4,464,645
--------------------------------------------------------------------------------------------------------------------------------
Thunderbird Technologies, Inc.
Designer of high performance, low power integrated
   circuit products
788,796 shares of Series A Preferred Stock                               Oct. 1992                   788,796             788,796
Convertible Demand Notes at prime                                                                    120,769             120,769
                                                                                              --------------    ----------------
                                                                                                     909,565             909,565
--------------------------------------------------------------------------------------------------------------------------------

TOTAL PORTFOLIO INVESTMENTS                                                                   $    7,733,952    $      5,553,955
                                                                                              ==============    ================
</table>


* May be deemed an affiliated person of the Partnership as defined by the
Investment Company Act of 1940.




See notes to financial statements.


<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
STATEMENTS OF OPERATIONS (Unaudited)
For the Three Months Ended March 31,
<table>

<c>

                                                                                                   2002                2001
                                                                                               -------------       ------------

INVESTMENT INCOME AND EXPENSES

   Income:
   Interest from short-term investments                                                         $      1,198    $         4,207
   Interest and other income from portfolio investments                                                3,041              5,400
                                                                                                ------------    ---------------
   Total investment income                                                                             4,239              9,607
                                                                                                ------------    ---------------

   Expenses:
   Management fee                                                                                     37,500             37,500
   Professional fees                                                                                  15,231             13,361
   Mailing and printing                                                                                5,200              4,835
   Independent General Partners' fees                                                                  3,750              3,750
   Other expenses                                                                                      1,540              1,580
                                                                                                ------------    ---------------
   Total expenses                                                                                     63,221             61,026
                                                                                                ------------    ---------------

NET INVESTMENT LOSS                                                                             $    (58,982)   $       (51,419)
                                                                                                ============    ===============
</table>



See notes to financial statements.


<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
STATEMENTS OF CASH FLOWS (Unaudited)
For the Three Months Ended March 31,
<table>

<c>


                                                                                                  2002                2001
                                                                                              ------------      ---------------

CASH FLOWS FROM OPERATING ACTIVITIES

Net investment loss                                                                         $       (58,982)    $       (51,419)

Adjustments to reconcile net investment loss to cash used for operating
   activities:

Increase in accrued interest and receivable                                                          (2,933)             (5,102)
Decrease in payables, net                                                                           (26,369)           (115,107)
                                                                                            ---------------     ---------------
Cash used for operating activities                                                                  (88,284)           (171,628)

Cash and cash equivalents at beginning of period                                                    489,710             919,613
                                                                                            ---------------     ---------------

CASH AND CASH EQUIVALENTS AT END OF PERIOD                                                  $      401,426      $       747,985
                                                                                            ==============      ===============
</table>



See notes to financial statements.


<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
STATEMENT OF CHANGES IN PARTNERS' CAPITAL (Unaudited)
For the Three Months Ended March 31, 2002
<table>

<c>

                                                                                               Unallocated
                                             Managing      Individual                        Net Unrealized
                                              General        General          Limited         Depreciation
                                              Partner       Partners         Partners        of Investments          Total

Balance as of December 31, 2001          $    240,575      $    2,743     $    7,816,207     $   (2,179,997)    $     5,879,528

Net investment loss                                18             (21)           (58,979)                 -             (58,982)
                                         ------------      ----------    ---------------    ---------------     ---------------

Balance as of March 31, 2002             $    240,593      $    2,722     $    7,757,228 (A) $   (2,179,997)    $     5,820,546
                                         ============      ==========     ==============     ==============     ===============

</table>

(A)  The net asset value per unit of limited partnership interest, including an
     assumed allocation of net unrealized depreciation of investments, is $514
     as of March 31, 2002.




See notes to financial statements.


<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
NOTES TO FINANCIAL STATEMENTS (Unaudited)

1.     Organization and Purpose

     Westford  Technology  Ventures,  L.P.  (the  "Partnership")  is a  Delaware
limited  partnership  formed on September 3, 1987.  WTVI Co., L.P., the managing
general partner of the  Partnership  (the "Managing  General  Partner") and four
individuals (the "Individual  General Partners") are the general partners of the
Partnership.  Hamilton Capital Management Inc. (the "Management Company") is the
general partner of the Managing  General  Partner and the management  company of
the Partnership.  The Partnership began its principal  operations on December 1,
1988.

The Partnership's objective is to achieve long-term capital appreciation by
making venture capital investments in new and developing companies and other
special investment situations. The Partnership will not engage in any other
business or activity. The Partnership is scheduled to terminate no later than
December 31, 2002.

2.     Significant Accounting Policies

Valuation of Investments - Short-term investments are carried at amortized cost,
which approximates market. Portfolio investments are carried at fair value, as
determined quarterly by the Managing General Partner under the supervision of
the Individual General Partners. Publicly held portfolio securities are valued
at the closing public market price on the valuation date discounted by a factor
of between 0% to 50% for sales restrictions. Factors considered in the
determination of an appropriate discount include, underwriter lock-up or Rule
144 trading restrictions, insider status where the Partnership either has a
representative serving on the Board of Directors or is greater than a 10%
shareholder, and other liquidity factors such as the size of the Partnership's
position in a given company compared to the trading history of the public
security. Privately held portfolio securities are valued at cost until
significant developments affecting the portfolio company provide a basis for
change in valuation. The fair value of private securities is adjusted to reflect
1) meaningful third-party transactions in the private market or 2) significant
progress or slippage in the development of the company's business such that cost
is no longer reflective of fair value. As a venture capital investment fund, the
Partnership's portfolio investments involve a high degree of business and
financial risk that can result in substantial losses. The Managing General
Partner considers such risks in determining the fair value of the Partnership's
portfolio investments.

Use of Estimates - The preparation of financial statements in conformity with
accounting principles generally accepted in the United States of America
requires management to make estimates and assumptions that affect the reported
amounts of assets and liabilities and disclosure of contingent assets and
liabilities at the date of the financial statements and the reported amounts of
revenues and expenses during the reporting period. Actual results could differ
from those estimates.

Investment Transactions - Investment transactions are recorded on the accrual
method. Portfolio investments are recorded on the trade date, the date the
Partnership obtains an enforceable right to demand the securities or payment
therefore. Realized gains and losses on investments sold are computed on a
specific identification basis.


<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
NOTES TO FINANCIAL STATEMENTS (Unaudited), continued

Income Taxes - No provision for income taxes has been made since all income and
losses are allocable to the Partners for inclusion in their respective income
tax returns. The Partnership's net assets for financial reporting purposes
differ from its net assets for tax purposes. Net unrealized depreciation of $2.2
million as of March 31, 2002, was recorded for financial statement purposes but
has not been recognized for tax purposes. Additionally, from inception to March
31, 2002, other timing differences relating to the sale of Units totaling $1.2
million were charged to partners' capital on the financial statements but have
not been deducted or charged against partners' capital for tax purposes.

Cash Equivalents - The Partnership considers all highly liquid debt instruments
(primarily money market funds) to be cash equivalents.

3.     Allocation of Partnership Profits and Losses

The Partnership Agreement provides that the Managing General Partner will be
allocated, on a cumulative basis over the life of the Partnership, 20% of the
Partnership's aggregate investment income and net realized gains from venture
capital investments, provided that such amount is positive. All other gains and
losses of the Partnership are allocated among all the Partners, including the
Managing General Partner, in proportion to their respective capital
contributions to the Partnership.

4.     Related Party Transactions

The Management Company is responsible for the management and administrative
services necessary for the operation of the Partnership. For these services, the
Management Company received a management fee through December 31, 1999 at an
annual rate of 2.5% of the gross capital contributions to the Partnership (net
of selling commissions and organizational expenses paid by the Partnership),
reduced by capital distributed and realized losses, with a minimum fee of
$200,000 per annum. The Management Company voluntarily agreed to reduce the
minimum management fee payable by the Partnership to $150,000 per annum,
effective January 1, 2000.

The Management Company also directly provides certain shareholder services and
database management support for the Limited Partners of the Partnership. For
such services, the Management Company had charged the Partnership an additional
fee of $8,500 per quarter through December 31, 1998. This amount was paid to the
Management Company in addition to the regular management fee discussed above.
Effective January 1, 1999, however, the Management Company agreed to provide
such services for no additional fee.

From inception of the Partnership to December 31, 1998, each of the three
Independent General Partners received an annual fee of $10,000 and $1,000 for
each meeting of the Independent General Partners attended, plus out-of-pocket
expenses. Effective January 1, 1999, the annual fee paid to each Independent
General Partner was reduced to $5,000. Additionally, effective January 1, 2000,
the Independent General Partners voluntarily waived all future meeting fees.



<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
NOTES TO FINANCIAL STATEMENTS (Unaudited), continued

5.     Classification of Portfolio Investments

As March 31, 2002, the Partnership's portfolio investments were categorized as
follows:
<table>

<c>
                                                                                                             Percentage of
Investment Type                                            Cost                   Fair Value                  Net Assets*
---------------                                       ---------------           ---------------               -----------
Preferred Stock                                      $      5,835,016            $    4,204,557               72.24%
Common Stock                                                1,675,227                 1,125,689               19.34%
Debt Securities                                               223,709                   223,709                 3.84%
                                                     ----------------            --------------               -------
Total                                                $      7,733,952            $    5,553,955               95.42%
                                                     ================            ==============               ======

Country/Geographic Region
Midwestern U.S.                                      $      6,824,387            $    4,644,390               79.79%
Eastern U.S.                                                  909,565                   909,565               15.63%
                                                     ----------------            --------------              -------
Total                                                $      7,733,952            $    5,553,955               95.42%
                                                     ================            ==============             ========

Industry
Wireless Communications                              $      5,401,098            $    4,464,645               76.70%
Vending Equipment                                           1,423,289                   179,745                3.09%
Semiconductors                                                909,565                   909,565               15.63%
                                                     ----------------            --------------               ------
Total                                                $      7,733,952            $    5,553,955               95.42%
                                                     ================            ==============               ======
</table>

* Fair value as a percentage of net assets.


<PAGE>


Item 2.       Management's Discussion and Analysis of Financial Condition
              and Results of Operations.
              -----------------------------------------------------------------

Liquidity and Capital Resources

As of March 31, 2002, the Partnership held $401,426 in an interest-bearing cash
account. The Partnership earned $1,198 of interest from such cash account for
the three months ended March 31, 2002. Interest earned from the Partnership's
cash balances and short-term investments, if any, in future periods is subject
to fluctuations in short-term interest rates and changes in amounts available
for investment in such securities.

The Partnership is in its liquidation phase and will not make investments in any
new portfolio companies. However, the Partnership may make additional follow-on
investments in existing portfolio companies, if required.

As of March 31, 2002, the Partnership's current liabilities of $218,571 included
$188,804 due to the Management Company and $3,750 due to the Independent General
Partners. Funds needed to cover such current liabilities, future follow-on
investments, if any, and operating expenses will be obtained primarily from
existing cash reserves and proceeds from the sale of the Partnership's remaining
portfolio investments.

Results of Operations

Investment Income and Expenses - Net investment loss for the three months ended
March 31, 2002 and 2001 was $58,982 and $51,419, respectively. The unfavorable
change in net investment loss resulted from a $5,368 decrease in investment
income and an $2,195 increase in operating expenses for the 2002 period as
compared to the same period in 2001. The decrease in investment income primarily
resulted from a reduction in interest rates during 2002 as well as a reduction
of the Partnership's idle cash balances during 2002 as compared to 2001. The
increase in operating expenses for 2002 compared to 2001 primarily resulted from
small increases in professional fees.

The Management Company is responsible for the management and administrative
services necessary for the operation of the Partnership. For these services, the
Management Company received a management fee through December 31, 1999 at an
annual rate of 2.5% of the gross capital contributions to the Partnership (net
of selling commissions and organizational expenses paid by the Partnership),
reduced by capital distributed and realized losses, with a minimum fee of
$200,000 per annum. The Management Company voluntarily agreed to reduce the
minimum management fee payable by the Partnership to $150,000 per annum
effective on January 1, 2000. The management fee was $37,500 each of the three
month periods ended March 31, 2002 and 2001.

To the extent possible, the management fee and other expenses incurred directly
by the Partnership are paid with funds provided from operations. Funds provided
from operations primarily are obtained from interest received from short-term
investments, interest and other income received from portfolio investments and
proceeds received from the sale of portfolio investments.

Net Assets - As of March 31, 2002, the Partnership's net assets were $5,820,546,
as compared to net assets of $5,879,528 as of December 31, 2001. This change
represents the $58,982 net investment loss for the three months ended March 31,
2002.

As of March 31, 2001, the Partnership's net assets were $4,557,863, as compared
to net assets of $4,609,282 as of December 31, 2000. This change represents the
$51,419 net investment loss for the three months ended March 31, 2001.

Gains and losses from investments are allocated to the Partners' capital
accounts when realized in accordance with the Partnership Agreement (see Note 3
of Notes to Financial Statements). However, for purposes of calculating the net
asset value per unit of limited partnership interest ("Unit"), net unrealized
appreciation or depreciation of investments has been included as if it had been
realized and allocated to the Limited Partners in accordance with the
Partnership Agreement. Pursuant to such calculation, the net asset value per
$1,000 Unit as of March 31, 2002 and December 31, 2001 was $514 and $519,
respectively.

Item 3.  Quantitative and Qualitative Disclosures about Market Risk.
         -----------------------------------------------------------

The Partnership is subject to market risk arising from changes in the value of
its portfolio investments, short-term investments and interest-bearing cash
equivalents, which may result from fluctuations in interest rates and equity
prices. The Partnership has calculated its market risk related to its holdings
of these investments based on changes in interest rates and equity prices
utilizing a sensitivity analysis. The sensitivity analysis estimates the
hypothetical change in fair values, cash flows and earnings based on an assumed
10% change (increase or decrease) in interest rates and equity prices. To
perform the sensitivity analysis, the assumed 10% change is applied to market
rates and prices on investments held by the Partnership at the end of the
accounting period.

The Partnership's portfolio investments had an aggregate fair value of
$5,553,955 as of March 31, 2002. An assumed 10% decline from this fair value
would result in a reduction to the fair value of such investments and a
corresponding unrealized loss of $555,395.

The Partnership had no short-term investments as of March 31, 2002. Market risk
relating to the Partnership's interest-bearing cash equivalents held as of March
31, 2002 is considered to be immaterial.



<PAGE>


                           PART II - OTHER INFORMATION


Item 1.       Legal Proceedings.
              -----------------

The Partnership is not a party to any material pending legal proceedings.

Item 2.       Changes in Securities.
              ---------------------

None.

Item 3.       Defaults Upon Senior Securities.
              -------------------------------

None.

Item 4.       Submission of Matters to a Vote of Security Holders.
              ---------------------------------------------------

The 2002 Annual Meeting of Limited Partners will be held on June 28, 2002.

Item 5.       Other Information.
              -----------------

None.

Item 6.       Exhibits and Reports on Form 8-K.
              --------------------------------

None.


<PAGE>


                                   SIGNATURES



Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, this report has been signed below by the following persons on
behalf of the Registrant, in the capacities, and on the date indicated.



              WESTFORD TECHNOLOGY VENTURES, L.P.


By:           WTVI Co., L.P.
              its managing general partner


By:           Hamilton Capital Management Inc.
              its general partner

<table>

<c>
By:           /s/       Jeffrey T. Hamilton                       President, Secretary and Director (Principal
              ------------------------------------------------
              Jeffrey T. Hamilton                                 Executive Officer) of Hamilton Capital
                                                                  Management Inc. and Individual General
                                                                  Partner of Westford Technology Ventures, L.P.


By:           /s/       Susan J. Trammell                         Treasurer and Director (Principal Financial
              ------------------------------------------------
              Susan J. Trammell                                   and Accounting Officer) of Hamilton Capital
                                                                  Management Inc.

</table>

Date:         May 15, 2002