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 June 30, 1997

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.
===============================================================================
             (Exact name of registrant as specified in its charter)


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

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

Registrant's telephone number, including area code:  (201) 624-2131

Not applicable
===============================================================================
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 June 30, 1997 (Unaudited) and December 31, 1996

Schedule of Portfolio Investments as of June 30, 1997 (Unaudited)

Statements of Operations for the Three and Six Months Ended June 30, 1997 and 
1996 (Unaudited)

Statements of Cash Flows for the Six Months Ended June 30, 1997 and 1996 
(Unaudited)

Statement of Changes in Partners' Capital for the Six Months Ended June 30, 1997
(Unaudited)

Notes to Financial Statements (Unaudited)

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


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>

                                                                                        June 30, 1997         December 31,
                                                                                         (Unaudited)                 1996
ASSETS

Portfolio investments at fair value (cost $10,528,421 at
<S>     <C> <C>      <C>                    <C> <C>                                   <C>                     <C>             
   June 30, 1997 and $9,928,421 at December 31, 1996)                                 $     8,771,727         $      7,948,265
Cash and cash equivalents                                                                     132,440                  900,186
Deposit in escrow                                                                                   0                   32,985
Receivable from securities sold (net of unamortized discount of
   $78,207 at June 30, 1997 and $85,029 at December 31, 1996)                                 139,749                  160,642
Accrued interest receivable                                                                    85,079                   34,854
                                                                                      ---------------         ----------------

TOTAL ASSETS                                                                          $     9,128,995         $      9,076,932
                                                                                      ===============         ================

LIABILITIES AND PARTNERS' CAPITAL

Liabilities:
Accounts payable                                                                      $        32,592         $         53,337
Due to Independent General Partners                                                            10,500                   10,500
                                                                                      ---------------         ----------------
   Total liabilities                                                                           43,092                   63,837
                                                                                      ----------------------------------------

Partners' Capital:
Managing General Partner                                                                      562,976                  559,134
Individual General Partners                                                                     3,619                    3,674
Limited Partners (11,217 Units)                                                            10,276,002               10,430,443
Unallocated net unrealized depreciation of investments                                     (1,756,694)              (1,980,156)
                                                                                      --------------- ------------------------
   Total partners' capital                                                                  9,085,903                9,013,095
                                                                                      ----------------------------------------

TOTAL LIABILITIES AND PARTNERS' CAPITAL                                               $     9,128,995         $      9,076,932
                                                                                      ===============         ================
</TABLE>


See notes to financial statements.


<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
SCHEDULE OF PORTFOLIO INVESTMENTS (UNAUDITED)
June 30, 1997

<TABLE>

                                                                     Initial Investment
Company / Position                                                          Date                  Cost               Fair Value
EIS International, Inc.(A) (B)
<C>                                                                           <C>            <C>                  <C>          
206,267 shares of Common Stock                                           Mar. 1990           $    2,726,335       $   1,663,028
Warrants to purchase 29,015 shares of Common Stock
   at $1.41 per share, expiring between 12/31/98 and 3/23/00                                        438,469             193,118
-------------------------------------------------------------------------------------------------------------------------------
Inn-Room Systems, Inc. *
1,342,491 shares of Common Stock                                         Oct. 1989                1,243,686             671,246
Demand Promissory Note at 1% plus prime due 12/31/97                                                105,000             105,000
Warrants to purchase 206,003 shares of Common Stock at
   $0.01 per share, expiring between 12/31/97 and 6/30/98                                            74,603             100,941
-------------------------------------------------------------------------------------------------------------------------------
Spectrix Corporation*(C)
742,304 shares of Preferred Stock                                        June 1989                3,511,351           2,041,340
274,862 shares of Common Stock                                                                      142,681             755,871
Demand Promissory Notes at 8%                                                                     1,497,500           1,497,500
Warrants to purchase 424,394 shares of Common Stock
   at $.50 per share, expiring between 12/31/97 and 4/30/03                                               0             954,887
Warrants to purchase 50,000 shares of Common Stock at
   $4.00 per share, expiring 04/30/03                                                                     0                   0
-------------------------------------------------------------------------------------------------------------------------------
Thunderbird Technologies, Inc.
788,796 shares of Preferred Stock                                        Oct. 1992                  788,796             788,796
-------------------------------------------------------------------------------------------------------------------------------

TOTALS                                                                                       $   10,528,421       $   8,771,727
                                                                                             ==============       =============
</TABLE>



 (A)     Public company.

(B) In  June  1997,  the  Partnership  received  16,682  common  shares  of  EIS
    International, Inc., which were previously held in escrow in connection with
    the 1996 merger of EIS and Cybernetics Systems, Inc.  Additionally,  in July
    1997, the Partnership received a $1,320 cash payment, representing the final
    escrow release. As a result of the final escrow settlement,  the Partnership
    realized a loss of $31,665 in June 1997.

(C) During the quarter,  the  Partnership  completed  follow-on  investments  in
    Spectrix  Corporation  totaling  $300,000,  acquiring a series of promissory
    demand notes.


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

See notes to financial statements.



<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
STATEMENTS OF OPERATIONS (UNAUDITED)


<TABLE>

                                                                         Three Months Ended             Six Months Ended
                                                                              June 30,                      June 30,

                                                                          1997          1996           1997           1996
                                                                     --------------  -----------  --------------   -------

INVESTMENT INCOME AND EXPENSES

   Income:
<S>                                                                <C>             <C>              <C>            <C>           
   Interest from short-term investments                            $        2,777  $       16,548   $    10,460    $       23,931
   Interest and other income (loss) from portfolio
     investments                                                           31,864           9,814        58,599            19,392
                                                                   --------------  --------------   -----------    --------------
   Totals                                                                  34,641          26,362        69,059            43,323
                                                                   --------------  --------------   -----------    --------------

   Expenses:
   Management fee                                                          55,896          55,941       111,792           111,902
   Professional fees                                                        8,242          13,958        16,870            16,177
   Mailing and printing                                                     3,522           3,444         6,692            15,204
   Independent General Partners' fees                                      10,500          10,500        21,000            21,000
   Other expenses                                                          10,882          11,940        31,694            26,646
                                                                   --------------  --------------   -----------    --------------
   Totals                                                                  89,042          95,783       188,048           190,929
                                                                   --------------  --------------   -----------    --------------

NET INVESTMENT LOSS                                                       (54,401)        (69,421)     (118,989)         (147,606)

Net realized gain (loss) from portfolio investments                       (31,665)        657,115       (31,665)        2,929,998
                                                                   --------------  --------------   -----------    --------------

NET REALIZED GAIN (LOSS) FROM
   OPERATIONS (allocable to Partners)                                     (86,066)        587,694      (150,654)        2,782,392

Net change in unrealized depreciation of investments                      650,254       1,299,171       223,462          (844,177)
                                                                   --------------  --------------   -----------    --------------

NET INCREASE IN NET ASSETS RESULTING
   FROM OPERATIONS                                                 $      564,188  $    1,886,865   $    72,808    $    1,938,215
                                                                   ==============  ==============   ===========    ==============
</TABLE>

See notes to financial statements.


<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
STATEMENTS OF CASH FLOWS (UNAUDITED)
For the Six Months Ended June 30,


<TABLE>

                                                                                                   1997               1996
                                                                                              --------------      --------

CASH FLOWS USED FOR OPERATING ACTIVITIES

<S>                                                                                           <C>                 <C>           
Net investment loss                                                                           $     (118,989)     $    (147,606)

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

Increase in accrued interest on short-term investments                                                     -             (2,153)
Increase in accrued interest receivable                                                              (49,856)            (6,281)
Increase (decrease) in payables                                                                      (20,745)            12,027
                                                                                              --------------      -------------
Cash used for operating activities                                                                  (189,590)          (144,013)
                                                                                              --------------      -------------

CASH FLOWS (USED FOR) PROVIDED FROM
   INVESTING ACTIVITIES

Net return (purchase of) short-term investments                                                            -         (1,142,815)
Cost of portfolio investments purchased                                                             (600,000)          (360,000)
Proceeds from the sale of portfolio investments                                                       21,844          1,527,817
Proceeds from repayment of bridge loan                                                                     -            100,000
                                                                                              --------------      -------------
Cash (used for) provided from investing activities                                                  (578,156)           125,002
                                                                                              --------------      -------------

Decrease in cash and cash equivalents                                                               (767,746)           (19,011)
Cash and cash equivalents at beginning of period                                                     900,186            206,504
                                                                                              --------------      -------------

CASH AND CASH EQUIVALENTS AT END OF PERIOD                                                    $      132,440      $     187,493
                                                                                              ==============      =============
</TABLE>



See notes to financial statements.



<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
STATEMENT OF CHANGES IN PARTNERS' CAPITAL (UNAUDITED)
For the Six Months Ended June 30, 1997


<TABLE>

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

<S>                                     <C>                <C>           <C>                 <C>                <C>            
Balance at beginning of period          $    559,134       $  3,674      $    10,430,443     $   (1,980,156)    $     9,013,095

Net investment loss                           10,426            (46)            (129,369)                 -            (118,989)

Net realized loss from portfolio
investments                                   (6,584)            (9)             (25,072)                 -             (31,665)

Net change in unrealized
depreciation of investments                        -              -                    -            223,462             223,462
                                        ------------       --------      ---------------     --------------     ---------------

Balance at end of period                $    562,976       $  3,619      $    10,276,002(A)  $   (1,756,694)    $     9,085,903
                                        ============       ========      ===============     ==============     ===============
</TABLE>


(A)  The net asset value  per  $1,000  unit of  limited  partnership  interest,
     including  an assumed   allocation  of  net  unrealized   depreciation  of
     investments, is $792.


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  will  terminate  on December 31, 1998,
subject to the right of the Individual  General  Partners to extend the term for
up to two additional two-year periods.

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.  The fair value of  publicly-held  portfolio
securities  is adjusted to the closing  public market price for the last trading
day of each quarter discounted by a factor of 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 carried at cost
until significant  developments  affecting the portfolio company provide a basis
for change in valuation.  The fair value of private securities is adjusted 1) to
reflect  meaningful  third-party  transactions  in the  private  market or 2) to
reflect  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
generally accepted  accounting  principles 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
therefor.  Realized  gains and  losses on  investments  sold are  computed  on a
specific identification basis.

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
$1,756,694  at June  30,  1997,  which  was  recorded  for  financial  statement
purposes, was not recognized for tax purposes.  From inception to June 30, 1997,
timing  differences  relating to net realized gains totaling  $984,700 have been
recorded  on the  Partnership's  financial  statements  but  have  not yet  been
recorded  on the  Partnership's  tax  return.  Additionally,  syndication  costs
relating to the selling 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  receives a management  fee 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.  Such fee is
determined quarterly and paid monthly.

5.     Independent General Partners' Fees

As  compensation  for  services  rendered to the  Partnership,  each of the four
Independent General Partners receives $10,000 annually in quarterly installments
and $1,000 for each meeting of the Independent  General Partners attended,  plus
out-of-pocket expenses.


<PAGE>


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


6.     Classification of Portfolio Investments

The Partnership's investments were categorized as follows as of June 30, 1997:

<TABLE>

                                                                                                          Percentage of
Type of Investments                                        Cost                   Fair Value                  Net Assets*
-------------------                                   ---------------           ---------------               -----------
<S>                                                  <C>                         <C>                          <C>   
Preferred Stock                                      $      4,300,147            $    2,830,136               31.15%
Common Stock                                                4,625,774                 4,339,091               47.75%
Debt Securities                                             1,602,500                 1,602,500               17.64%
                                                     ----------------            --------------               ------

Total                                                $     10,528,421            $    8,771,727               96.54%
                                                     ================            ==============               ======

Country/Geographic Region
Midwestern U.S.                                      $      6,574,821            $    6,126,785               67.43%
Eastern U.S.                                                3,953,600                 2,644,942               29.11%
                                                     ----------------            --------------               ------

Total                                                $     10,528,421            $    8,771,727               96.54%
                                                     ================            ==============               ======

Industry
Wireless Communications                              $      5,151,532            $    5,249,598               57.78%
Computer Software                                           3,164,804                 1,856,146               20.43%
Vending Equipment                                           1,423,289                   877,187                9.65%
Semiconductors                                                788,796                   788,796                8.68%
                                                     ----------------            --------------              -------

Total                                                $     10,528,421            $    8,771,727               96.54%
                                                     ================            ==============               ======
</TABLE>

* Percentage of net assets is based on fair value.


<PAGE>


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

Liquidity and Capital Resources

At June 30, 1997,  the  Partnership  held $132,400 in an  interest-bearing  cash
account. The Partnership earned $2,800 and $10,500 of interest for the three and
six months ended June 30, 1997,  respectively.  Interest  earned from short-term
investments in future periods is subject to fluctuations in short-term  interest
rates and changes in amounts available for investment in short term securities.

During the three  months ended June 30, 1997,  the  Partnership  made a $300,000
follow-on investment in Spectrix Corporation. The Partnership has fully invested
its original net proceeds of $10.5 million and will not make  investments in any
new portfolio companies.  However, the Partnership may make additional follow-on
investments in existing portfolio companies when required.

Funds  needed  to cover  the  Partnership's  future  follow-on  investments  and
operating  expenses will be obtained from existing cash  reserves,  interest and
other income from portfolio  investments and proceeds from the sale of portfolio
investments.

Results of Operations

For the three and six months  ended June 30,  1997,  the  Partnership  had a net
realized loss from  operations of $86,100 and  $150,700,  respectively.  For the
three and six months ended June 30,  1996,  the  Partnership  had a net realized
gain from  operations of $587,700 and $2.8 million,  respectively.  Net realized
gain or loss from  operations  is comprised of 1) net realized gain or loss from
portfolio  investments and 2) net investment  income or loss (investment  income
less operating expenses).

Realized  Gains and Losses from  Portfolio  Investments  - For the three and six
months ended June 30, 1997,  the  Partnership  had a net realized  loss from its
portfolio  investments of $31,700  relating to the final escrow payment received
in connection  with the 1996 merger of EIS  International,  Inc. and Cybernetics
Systems,  Inc. In June 1997, the  Partnership  received  16,682 common shares of
EIS, representing 100% of the shares held in escrow. However, in connection with
a settlement  agreement among EIS and the former Cybernetics  shareholders,  the
Partnership  received $1,320,  in July 1997,  representing only a portion of the
$32,985 balance held. As a result,  the  Partnership  realized a loss of $31,665
for the quarter ended June 30, 1997.

For the three and six months  ended June 30,  1996,  the  Partnership  had a net
realized  gain from its  portfolio  investments  of $657,100  and $2.9  million,
respectively.  In May 1996, the Partnership  sold its remaining 21,673 shares of
Cincinnati  Bell  Inc.  common  stock  for  $1.1  million,  realizing  a gain of
$657,100. During the three months ended March 31, 1996, EIS International, Inc.,
a public  company,  merged  with  Cybernetics  Systems  International,  Inc.  In
exchange for its  Cybernetics  holdings,  the Partnership  received  $460,245 in
cash,  206,267  shares of  restricted  EIS common stock and warrants to purchase
29,015  shares of EIS  common  stock at $1.41  per  share.  Of the total  merger
consideration, $32,985 of cash and 16,682 shares of EIS common stock were placed
in  escrow  and  released  in June  and  July  1997,  as  discussed  above.  The
Partnership realized a gain of $2.2 million in connection with the merger during
the first quarter of 1996.

Investment  Income and Expenses - Net investment loss for the three months ended
June 30, 1997 and 1996 was $54,400 and  $69,400,  respectively.  The decrease in
net investment  loss for the 1997 period as compared to the same period in 1996,
resulted primarily from a $22,000 increase in income from portfolio  investments
partially offset by a $14,000 decrease in interest from short term  investments.
Additionally, operating expenses declined by $7,000 for the 1997 period compared
to the 1996 period. The increase in income from portfolio investments relates to
the additional  promissory notes of Spectrix Corporation held by the Partnership
during the 1997  period  compared to the same  period in 1996.  The  decrease in
interest from  short-term  investments  primarily is due to a reduction in funds
available for investment in such securities during the 1997 period. The decrease
in operating expenses resulted  primarily from reduced  professional fees during
the 1997 period.

Net investment loss for the six months ended June 30, 1997 and 1996 was $119,000
and $147,600,  respectively.  The decrease in net  investment  loss for the 1997
period compared to the 1996 period primarily resulted from a $39,200 increase in
income from portfolio  investments  related to the promissory  notes of Spectrix
Corporation,  as  discussed  above,  partially  offset by a $13,500  decrease in
interest from short-term securities, reflecting the reduction of funds available
for  investment  in  such  securities  during  the  1997  period.  Additionally,
operating  expenses  declined by only $2,900 for the 1997 period compared to the
1996 period.

The  Management  Company is responsible  for the  management and  administrative
services necessary for the operation of the Partnership.  The Management Company
receives  a  management  fee at the  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 annual fee of $200,000.  The management fee for the three
months ended June 30, 1997 and 1996 was $56,000 for both periods. The management
fee for the six  months  ended  June 30,  1997 and  1996 was  $112,000  for both
periods. 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,  income earned from portfolio  investments and proceeds
received from the sale of portfolio investments.

Unrealized   Gains  and  Losses  and  Changes  in  Unrealized   Appreciation  or
Depreciation of Portfolio  Investments - For the six months ended June 30, 1997,
the Partnership had a $223,500  unrealized  gain,  resulting from the net upward
revaluation  of  its  investment  in EIS  International,  Inc.,  reflecting  the
increased  public market price of the  company's  common stock at the end of the
period.  Accordingly,  net unrealized  appreciation of investments  increased by
$223,500 for the six month period.

For the six months ended June 30, 1996, the  Partnership  had a $2.0 million net
unrealized  gain  resulting the net upward  revaluation  of its  publicly-traded
securities.   Additionally  during  the  six  month  period,  $2.8  million  was
transferred from unrealized gain to realized gain due to the sale of Cybernetics
and Cincinnati  Bell, as discussed  above. The $2.8 million transfer to realized
gain,  partially offset by the additional $2.0 million unrealized gain, resulted
in an $844,200  decrease in net unrealized  appreciation  of investments for the
six month period.

Net Assets - Changes in net assets  resulting from  operations are comprised of
 1) net realized gain or loss from  operations and
2) changes in net unrealized appreciation or depreciation of investments.

At June 30, 1997,  the  Partnership's  net assets were $9.1 million,  up $72,800
from $9.0 million at December 31, 1996.  The $72,800  increase was  comprised of
the $223,500 increase to net unrealized  appreciation of investments,  partially
offset by the  $150,700  net  realized  loss from  operations  for the six month
period.

At June 30,  1996,  the  Partnership's  net assets were $12.7  million,  up $1.9
million from $10.8 million at December 31, 1995.  The $1.9 million  increase was
comprised of the $2.8 million net realized  gain from  operations  offset by the
$844,200  decrease to net unrealized  appreciation  of  investments  for the six
month period.

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 at June  30,  1997  and  December  31,  1996  was  $792  and  $790,
respectively.


<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.

Not applicable.

Item 3.       Defaults Upon Senior Securities.

Not applicable.

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

The 1997 Annual Meeting of Limited Partners was held on June 27, 1997.  The 
following matters were voted on and approved.
<TABLE>

                                                                      Affirmative
                                                                         Votes                Withheld

Election of the four Individual General Partners,
Jeffrey T. Hamilton, Robert S. Ames, Alfred M.
Bertocchi and George M. Weimer to serve for
<S>                                                                     <C>                    <C>  
the ensuing year.                                                       4,802                  1,127





                                                                      Affirmative             Negative
                                                                         Votes                  Votes              Abstentions


Election of the General Partner, WTVI Co., L.P. to
<S>                                                                     <C>                    <C>                   <C>
serve for the ensuing year.                                             4,787                  1,142                 0

Approval of the continuance of the
Management Agreement between the
Partnership and the Management Company                                  4,359                  1,111                 459

Ratification of the selection of
BDO Seidman LLP as independent
auditors for the Partnership's fiscal
year ending December 31, 1997                                           5,026                  490                   413
</TABLE>

Item 5.       Other Information.

During the quarter, the Partnership completed follow-on investments in Spectrix
Corporation totaling $300,000, acquiring a series of promissory demand notes.


<PAGE>



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

              (a)   Exhibits

                    (27)   Financial Data Schedule.

              (b) No  reports on Form 8-K have been  filed  during  the  quarter
covered by this report.


<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 dates indicated.


<TABLE>

              WESTFORD TECHNOLOGY VENTURES, L.P.


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


By:           Hamilton Capital Management Inc.
              its general partner


<S>     <C>    <C>    <C>    <C>    <C>    <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:         August 13, 1997



<PAGE>