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 September 30, 1999

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 September 30, 1999 (Unaudited) and December 31, 1998

Schedule of Portfolio Investments as of September 30, 1999 (Unaudited)

Statements of Operations for the Three and Nine Months Ended September 30, 1999
and 1998 (Unaudited)

Statements of Cash Flows for the Nine Months Ended September 30, 1999 and 1998
(Unaudited)

Statement of Changes in Partners' Capital for the Nine Months Ended September
30, 1999 (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 Disclosures 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>

                                                                                        September 30,
                                                                                            1999                 December 31,
                                                                                          (Unaudited)                1998
ASSETS

<S>                                        <C>
Portfolio investments, at fair value (cost $10,759,780 as of
   September 30, 1999 and $10,460,214 as of December 31, 1998)                          $     4,875,626           $    5,039,575
Cash and cash equivalents                                                                         7,106                    7,998
Receivable from securities sold (net of unamortized
   discount of $30,493 as of December 31, 1998)                                                       -                   70,275
Accrued interest receivable                                                                      39,509                  279,498
                                                                                        ---------------           --------------

TOTAL ASSETS                                                                            $     4,922,241           $    5,397,346
                                                                                        ===============           ==============

LIABILITIES AND PARTNERS' CAPITAL

Liabilities:
Accounts payable and accrued expenses                                                   $        43,335           $       39,501
Due to Management Company                                                                       467,304                  251,304
Due to Independent General Partners                                                              78,750                   52,500
                                                                                        ---------------           --------------
   Total liabilities                                                                            589,389                  343,305
                                                                                        ---------------           --------------

Partners' Capital:
Managing General Partner                                                                        584,013                  593,816
Individual General Partners                                                                       3,389                    3,477
Limited Partners (11,217 Units)                                                               9,629,604                9,877,387
Unallocated net unrealized depreciation of investments                                       (5,884,154)              (5,420,639)
                                                                                        ---------------           --------------
   Total partners' capital                                                                    4,332,852                5,054,041
                                                                                        ---------------           --------------

TOTAL LIABILITIES AND PARTNERS' CAPITAL                                                 $     4,922,241           $    5,397,346
                                                                                        ===============           ==============

</TABLE>

See notes to financial statements.


<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
SCHEDULE OF PORTFOLIO INVESTMENTS (Unaudited)
September 30, 1999
<TABLE>

<S>     <C>    <C>    <C>    <C>    <C>    <C>
                                                                     Initial Investment
Company  /Position                                                          Date                  Cost               Fair Value
EIS International, Inc. (A)
Systems for call center telephone operators
<C>                                                                           <C>           <C>                  <C>
228,682 shares of Common Stock                                           Mar. 1990          $      3,096,597     $       657,461
--------------------------------------------------------------------------------------------------------------------------------
Inn-Room Systems, Inc.*
Automated, in-room vending units for the lodging industry
1,548,494 shares of Common Stock                                         Oct. 1989                 1,320,349             300,000
Demand Promissory Note at prime plus 1% due 12/31/99                                                 102,940             102,940
                                                                                            ----------------     ---------------
                                                                                                   1,423,289             402,940
--------------------------------------------------------------------------------------------------------------------------------
Spectrix Corporation*
Infrared data transfer technology for networks
60,547 shares of Series A Preferred Stock                                June 1989                   784,319              60,547
2,216,626 shares of Series B Preferred Stock                                                       4,261,901           2,216,626
699,256 shares of Common Stock                                                                       354,878             699,256
Warrants to purchase 50,000 shares of Common Stock at
   $4.00 per share, expiring 04/30/03                                                                      0                   0
                                                                                            ----------------     ---------------
                                                                                                   5,401,098           2,976,429
--------------------------------------------------------------------------------------------------------------------------------
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
Demand Promissory Note at prime                                                                       50,000              50,000
                                                                                            ----------------     ---------------
                                                                                                     838,796             838,796
--------------------------------------------------------------------------------------------------------------------------------

TOTAL PORTFOLIO INVESTMENTS                                                                 $     10,759,780     $     4,875,626
                                                                                            ================     ===============

</TABLE>

(A) Public company



* 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)
<TABLE>



                                                                    Three Months Ended                     Nine Months Ended
                                                                       September 30,                         September 30,

                                                                    1999            1998              1999             1998
                                                             ---------------  ----------------  ---------------    --------------

INVESTMENT INCOME AND EXPENSES


     Income:
<S>                                                            <C>               <C>              <C>              <C>
     Interest from short-term investments                      $           5     $          59    $         164    $         345
     Interest and other income from portfolio
       investments                                                     3,328            42,814            9,601          123,108
                                                               -------------     -------------    -------------    -------------
     Totals                                                            3,333            42,873            9,765          123,453
                                                               -------------     -------------    -------------    -------------

     Expenses:
     Management fee                                                   50,000            55,468          150,000          166,832
     Database management fee                                               -             8,500                -           25,500
     Professional fees                                                 7,922             7,259           22,285           22,178
     Mailing and printing                                             12,284             4,654           17,479           14,235
     Independent General Partners' fees                                9,750            10,500           26,250           31,500
     Custodial fees                                                    1,500             1,500            4,500            4,725
     Other expenses                                                      277               899              702            2,068
                                                               -------------     -------------    -------------    -------------
     Totals                                                           81,733            88,780          221,216          267,038
                                                               -------------     -------------    -------------    -------------

NET INVESTMENT LOSS                                                  (78,400)          (45,907)        (211,451)        (143,585)

Net realized loss from portfolio investments                               -                 -          (46,223)         (68,190)
                                                               -------------     -------------    -------------    -------------

NET REALIZED LOSS FROM OPERATIONS                                    (78,400)          (45,907)        (257,674)        (211,775)

Change in unrealized depreciation of investments                           -          (757,509)        (463,515)        (713,372)
                                                               -------------     -------------    -------------    -------------

NET DECREASE IN NET ASSETS
     RESULTING FROM OPERATIONS                                 $     (78,400)    $    (803,416)   $    (721,189)   $    (925,147)
                                                               =============     =============    =============    =============
</TABLE>

See notes to financial statements.



<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
STATEMENTS OF CASH FLOWS (Unaudited)
For the Nine Months Ended September 30,
<TABLE>


                                                                                                     1999             1998
                                                                                               --------------     -------------

CASH FLOWS USED FOR OPERATING ACTIVITIES

<S>                                                                                             <C>               <C>
Net investment loss                                                                             $    (211,451)    $    (143,585)

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

Decrease (increase) in accrued interest receivable                                                        110          (101,423)
Increase in payables                                                                                  246,084           194,412
                                                                                                -------------     -------------
Cash used for operating activities                                                                     34,743           (50,596)
                                                                                                -------------     -------------

CASH FLOWS PROVIDED FROM (USED FOR) INVESTING
   ACTIVITIES

Cost of portfolio investments purchased                                                               (50,000)          (40,815)
Proceeds from the sale of portfolio investments                                                        14,365            80,590
                                                                                                -------------     -------------
Cash provided from (used for) investing activities                                                    (35,635)           39,775
                                                                                                -------------     -------------

Decrease in cash and cash equivalents                                                                    (892)          (10,821)
Cash and cash equivalents at beginning of period                                                        7,998            16,061
                                                                                                -------------     -------------

CASH AND CASH EQUIVALENTS AT END OF PERIOD                                                      $       7,106     $       5,240
                                                                                                =============     =============


Supplemental disclosure of non-cash investing and
   financing activities:
   Purchase of 68,003 common shares of Inn-Room
      Systems, Inc. - through reduction of notes                                                $           -      $        680
   Conversion of accrued interest receivable into cost of portfolio
     investment                                                                                 $     249,566      $          -
</TABLE>

See notes to financial statements.



<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
STATEMENT OF CHANGES IN PARTNERS' CAPITAL (Unaudited)
For the Nine Months Ended September 30, 1999
<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          $    593,816      $   3,477      $     9,877,387    $    (5,420,639)   $     5,054,041

Net investment loss                             (192)           (75)            (211,184)                 -           (211,451)
Net realized loss from portfolio
   investments                                (9,611)           (13)             (36,599)                 -            (46,223)

Change in net unrealized
   depreciation of investments                     -              -                    -           (463,515)          (463,515)
                                        ------------      ---------      ---------------    ---------------    ---------------

Balance at end of period                $    584,013      $   3,389      $     9,629,604(A) $    (5,884,154)   $     4,332,852
                                        ============      =========      ===============    ===============    ===============

</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 $382 as of September 30, 1999.


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's  originally scheduled  termination date
was December 31, 1998. In October 1998, the Individual General Partners voted to
extend  the term of the  Partnership  for an  additional  two-year  period.  The
Partnership  is now scheduled to terminate no later than December 31, 2000.  The
Individual General Partners have the right to extend the term of the Partnership
for an additional  two-year  period if they  determine that such extension is in
the best interest of the Partnership.

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.


<PAGE>


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

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.

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 $5.9
million at September  30,  1999,  which was  recorded  for  financial  statement
purposes, has not been recognized for tax purposes. Additionally, from inception
to September 30, 1999, other timing  differences  relating to net realized gains
totaling  $1.0  million  have  been  recorded  on  the  Partnership's  financial
statements  but have not yet been recorded on the  Partnership's  tax return and
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. Effective January 1, 1999, the management
fee payable by the Partnership was reduced to the minimum annual fee of $200,000
as per agreement with the Management Company.

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.


<PAGE>


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

5.     Independent General Partners' Fees

As  compensation  for services  rendered to the  Partnership,  each of the three
Independent  General Partners  receives an annual fee in quarterly  installments
and $1,000 for each meeting of the Independent  General Partners attended,  plus
out-of-pocket  expenses. The annual fee paid to each Independent General Partner
was reduced from $10,000 to $5,000 effective on January 1, 1999.

6.     Classification of Portfolio Investments

As of September 30, 1999,  the  Partnership's  investments  were  categorized as
follows:
<TABLE>

                                                                                                          Percentage of
Type of Investments                                        Cost                   Fair Value                  Net Assets*
-------------------                                   ---------------           ---------------               -----------
<S>                                                  <C>                         <C>                          <C>
Preferred Stock                                      $      5,835,016            $    3,065,969               70.76%
Common Stock                                                4,771,824                 1,656,717               38.24%
Debt Securities                                               152,940                   152,940                 3.53%
                                                     ----------------            --------------             ---------
Total                                                $     10,759,780            $    4,875,626              112.53%
                                                     ================            ==============             ========

Country/Geographic Region
Midwestern U.S.                                      $      6,824,387            $    3,379,369               78.00%
Eastern U.S.                                                3,935,393                 1,496,257               34.53%
                                                     ----------------            --------------             --------
Total                                                $     10,759,780            $    4,875,626              112.53%
                                                     ================            ==============             ========

Industry
Wireless Communications                              $      5,401,098            $    2,976,429               68.70%
Computer Software                                           3,096,597                   657,461               15.17%
Vending Equipment                                           1,423,289                   402,940                9.30%
Semiconductors                                                838,796                   838,796               19.36%
                                                     ----------------            --------------             --------
Total                                                $     10,759,780            $    4,875,626              112.53%
                                                     ================            ==============             ========
</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 September 30, 1999,  the  Partnership  held $7,106 in an  interest-bearing
cash account.  The Partnership  earned interest from its cash balances of $5 and
$164 for the three and nine  months  ended  September  30,  1999,  respectively.
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  has fully invested the net proceeds  received from the offering
of Units and will not make  additional  investments in new portfolio  companies.
However, the Partnership may make additional  follow-on  investments in existing
portfolio companies, if required.

As of September 30, 1999, the  Partnership's  current  liabilities  exceeded its
cash balance by approximately $582,300.  Current liabilities as of September 30,
1999 include  $467,304 due to the  Management  Company  comprised of accrued and
unpaid  management fees and other charges totaling $401,304 and advances made by
the Management Company to fund Partnership operations totaling $66,000.  Current
liabilities  as of September  30, 1999 also include fees due to the  Independent
General  Partners  totaling   $78,750.   Funds  needed  to  cover  such  current
liabilities,  follow-on  investments,  if any, and future operating expenses are
expected to be obtained  primarily  from proceeds  received from the sale of the
Partnership's  remaining portfolio investments.  As a result of the current cash
shortage,  payments  to the  Management  Company  and  the  Independent  General
Partners have been temporarily suspended.

Results of Operations

For the three and nine months ended  September 30, 1999, the  Partnership  had a
net realized loss from operations of $78,400 and $257,674, respectively. For the
three and nine months  ended  September  30,  1998,  the  Partnership  had a net
realized  loss from  operations  of  $45,907  and  $211,775,  respectively.  Net
realized  gain or loss from  operations is comprised of (i) net realized gain or
loss from portfolio investments and (ii) net investment income or loss (interest
and dividend income less operating expenses).

Realized  Gains and Losses from  Portfolio  Investments  - For the three  months
ended  September 30, 1999, the  Partnership had no realized gains or losses from
its portfolio  investments.  For the nine months ended  September 30, 1999,  the
Partnership  had a $46,223 net realized loss from its portfolio  investments due
to the write-off of the remaining net receivable  balance due from the 1994 sale
of Eidetics Incorporated. Eidetics Incorporated was sold in 1994 in a management
buyout for a $4,190 cash down payment and potential  future payments  determined
by the actual  cash  receipts of the  acquiring  company for five years from the
buyout date. In 1994, the Partnership  recorded a $250,597 receivable related to
such expected  future  payments.  At the end of the five year period actual cash
payments  received  against  the  receivable   balance  totaled  $204,374.   The
Partnership also received  interest payments totaling $72,965 over the five year
period.

For the three months ended  September 30, 1998, the  Partnership had no realized
gains and losses  from its  portfolio  investments.  For the nine  months  ended
September 30, 1998, the  Partnership  had a net realized loss from its portfolio
investments  of  $68,190  resulting  from  the  sale  of  6,600  shares  of  EIS
International, Inc. common stock, for $40,832.

Investment  Income and Expenses - Net investment loss for the three months ended
September 30, 1999 and 1998 was $78,400 and $45,907,  respectively. The increase
in net  investment  loss for the 1999  period as  compared to the same period in
1998, is comprised of a $39,540  decrease in investment  income partially offset
by a $7,047 decrease in operating  expenses.  The decrease in investment  income
primarily  resulted from the decrease in interest  income relating to promissory
notes due from Spectrix  Corporation  which were exchanged for additional equity
holdings of the  company in March  1999.  The  decrease  in  operating  expenses
primarily  resulted  from a  decline  in the  management  fee and  the  database
management fee, as discussed below. These reduced expenses were partially offset
by an increase in mailing and printing  expenses  resulting from certain accrual
adjustments  related to the printing and mailing of the Partnership's 1999 proxy
statement.

Net  investment  loss for the nine months ended  September 30, 1999 and 1998 was
$211,451 and $143,585, respectively. The increase in net investment loss for the
1999 period as compared to the same period in 1998,  is  comprised of a $113,688
decrease  in  investment  income  partially  offset  by a  $45,822  decrease  in
operating  expenses.  The decrease in investment income primarily  resulted from
the decrease in interest income  relating to promissory  notes due from Spectrix
Corporation  during  the 1999  period,  as  discussed  above.  The  decrease  in
operating  expenses  primarily resulted from a decline in the management fee and
the  database  management  fee as  discussed  below.  Additionally,  Independent
General  Partners' fees declined $5,525,  primarily  reflecting the reduction of
the annual fees paid to each Independent  General Partner from $10,000 to $5,000
effective as of January 1, 1999. These reduced expenses were partially offset by
a $3,244  increase  in  mailing  and  printing  expenses  relating  to a general
increase in such expenses during the 1999 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.  Effective  January 1, 1999, the
Management   Company  agreed  to  reduce  the  management  fee  payable  by  the
Partnership  to the minimum  annual fee of $200,000.  The management fee for the
three  months  ended  September  30,  1999  and 1998 was  $50,000  and  $55,468,
respectively.  The management  fee for the nine months ended  September 30, 1999
and 1998 was $150,000 and $166,832, respectively.

Additionally,  the Management Company 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,  the  Management  Company  agreed to  provided  such
services for no additional fee.

Funds needed to cover  current  liabilities,  future  management  fees and other
operating  expenses  incurred  directly by the  Partnership  are  expected to be
obtained  primarily  from proceeds  received from the sale of the  Partnership's
remaining portfolio investments.

Unrealized   Gains  and  Losses  and  Changes  in  Unrealized   Appreciation  or
Depreciation of Portfolio  Investments - For the nine months ended September 30,
1999,  the  Partnership  had a  $463,515  unfavorable  change in net  unrealized
depreciation  of  investments  primarily  resulting  from  a  $720,782  downward
revaluation  of the  Partnership's  investment  in  Spectrix  Corporation.  This
decrease  was  partially  offset by a  $252,676  net upward  revaluation  of the
Partnership's  investment in EIS International,  Inc., due to an increase in the
public market price of EIS common stock as of the end of the period.

For the nine months ended  September 30, 1998,  the  Partnership  had a $713,372
unfavorable  change in net  unrealized  depreciation  of  investments  primarily
resulting  from  a  $767,119  net  downward  revaluation  of  the  Partnership's
investment in EIS  International,  Inc.,  due to a decrease in the public market
price of the EIS common  stock as of the end of the period.  This  decrease  was
partially  offset by the  transfer of $53,747 from  unrealized  loss to realized
loss due to the sale of 6,600 common shares of EIS, as discussed above.

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.

As of  September  30,  1999,  the  Partnership's  net  assets  were  $4,332,852,
reflecting a decrease of $721,189  from net assets of  $5,054,041 as of December
31,  1998.  This change  represents  the decrease in net assets  resulting  from
operations  for the nine month  period,  comprised of the  $463,515  unfavorable
change in net  unrealized  depreciation  of  investments  and the  $257,674  net
realized loss from operations for the nine month period.

As of September 30, 1998, the  Partnership's  net assets were  $5,652,969,  down
$925,147  from net assets of as of  $6,578,116  December 31,  1997.  This change
represents  the decrease in net assets  resulting  from  operations for the nine
month  period  comprised of the $713,372  unfavorable  change to net  unrealized
depreciation  of investments  and the $211,775 net realized loss from operations
for the nine 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  September  30,  1999 and  December  31, 1998 was $382 and $446,
respectively.

Year 2000 Issue - The Year 2000 ("Y2K")  concern  arose  because  many  existing
computer  programs  use only the last two digits to refer to a year.  Therefore,
these computer  programs do not properly  recognize a year that begins with "20"
instead of "19".  If not  corrected,  many computer  applications  could fail or
create  erroneous  results.  The impact of the Y2K concern on the  Partnership's
operations is currently being assessed.

The Management Company is responsible to provide or arrange for the provision of
administrative services necessary to support the Partnership's  operations.  The
Management  Company has  arranged  for Palmeri Fund  Administrators,  Inc.  (the
"Administrator")  to provide the administrative and accounting  services for the
Partnership,  including maintenance of the books and records of the Partnership,
maintenance of the Limited Partner  database,  issuance of financial reports and
tax  information  to Limited  Partners and processing  distribution  payments to
Limited  Partners.  Fees charged by the  Administrator  are paid directly by the
Management Company.

The  Administrator  has  assessed its  computer  hardware and software  systems,
specifically  as they relate to the  operations of the  Partnership.  As part of
this investigation of potential Y2K concerns, the Administrator  contracted with
an outside  computer  service  provider  to examine  all of the  Administrator's
computer hardware and software applications. This review and evaluation has been
completed  and certain Y2K  concerns  were  identified.  The  Administrator  has
completed the purchase and installation of the necessary  software  upgrades and
patches and new computer  hardware  required for its computer  systems to be Y2K
compliant.
The  Administrator  expects to  complete  the testing of its systems by November
1999.

Additionally, the Administrator has contacted the outside service providers used
to assist the Administrator or the Management Company with the administration of
the Partnership's  operations to ascertain whether these entities are addressing
the Y2K issue within  their own  operation.  There can be no guarantee  that the
Administrator's systems or that systems of other companies providing services to
the Partnership will be corrected in a timely manner. The estimated costs to the
Partnership,  relating  to the  investigation  or  correction  of  Y2K  problems
affecting the Partnership's operations, are expected to be nominal.

Finally,  the Y2K  issue  is a  global  concern  that may  affect  all  business
entities,  including the Partnership's portfolio companies. The Managing General
Partner is  continuing  to assess the impact of Y2K  concerns  on its  portfolio
companies.  However, the extent to which any potential Y2K concerns could affect
the  valuations  of these  companies is unknown.  At the time that  specific Y2K
concerns are  identified,  if any, the Managing  General  Partner will take such
issues  into  consideration  in  adjusting  the fair value of the  Partnership's
portfolio investments.

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
$4,875,626  as of  September  30,  1999.  An assumed 10% decline  from this fair
value,  including an assumed 10% decline of the per share  market  prices of the
Partnership's  publicly-traded  securities,  would  result in a reduction to the
fair value of such investments and a corresponding unrealized loss of $487,563.

The Partnership had no short-term  investments as of September 30, 1999.  Market
risk relating to the Partnership's  interest-bearing cash equivalents held as of
September 30, 1999 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.

Not applicable.

Item 3.       Defaults Upon Senior Securities.

Not applicable.

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

No  matters  were  submitted  to a vote of  security  holders  during the period
covered by this report.

Item 5.       Other Information.

Not applicable.


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.



              WESTFORD TECHNOLOGY VENTURES, L.P.


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


By:           Hamilton Capital Management Inc.
              its general partner



By:           /s/       Jeffrey T. Hamilton  President, Secretary and Director
              Jeffrey T. Hamilton            (Principal 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
              Susan J. Trammell              Financial and Accounting Officer)
                                             of Hamilton Capital
                                             Management Inc.



Date:         November 15, 1999