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, 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:  (973) 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, 1999 (Unaudited) and December 31, 1998

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

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

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

Statement of Changes in Partners' Capital for the Six Months Ended June 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 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>


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

<S>                                        <C>
Portfolio investments, at fair value (cost $10,759,780 as of
   June 30, 1999 and $10,460,214 as of December 31, 1998)                               $     4,875,626           $    5,039,575
Cash and cash equivalents                                                                         2,792                    7,998
Receivable from securities sold (net of unamortized
   discount of $30,493 as of December 31, 1998)                                                       -                   70,275
Accrued interest receivable                                                                      36,190                  279,498
                                                                                        ---------------           --------------

TOTAL ASSETS                                                                            $     4,914,608           $    5,397,346
                                                                                        ===============           ==============

LIABILITIES AND PARTNERS' CAPITAL

Liabilities:
Accounts payable and accrued expenses                                                   $        23,052           $       39,501
Due to Management Company                                                                       411,304                  251,304
Due to Independent General Partners                                                              69,000                   52,500
                                                                                        ---------------           --------------
   Total liabilities                                                                            503,356                  343,305
                                                                                        ---------------           --------------

Partners' Capital:
Managing General Partner                                                                        584,131                  593,816
Individual General Partners                                                                       3,417                    3,477
Limited Partners (11,217 Units)                                                               9,707,858                9,877,387
Unallocated net unrealized depreciation of investments                                       (5,884,154)              (5,420,639)
                                                                                        ---------------           --------------
   Total partners' capital                                                                    4,411,252                5,054,041
                                                                                        ---------------           --------------

TOTAL LIABILITIES AND PARTNERS' CAPITAL                                                 $     4,914,608           $    5,397,346
                                                                                        ===============           ==============

</TABLE>

See notes to financial statements.


<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
SCHEDULE OF PORTFOLIO INVESTMENTS (Unaudited)
June 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*(B)
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

(B) In connection  with a capital  restructuring  of Spectrix  Corporation,  the
    Partnership  exchanged its previously  held shares of preferred  stock, on a
    one for one  basis,  for the new Series A and  Series B  preferred  stock of
    Spectrix.


* 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                   Six Months Ended
                                                                              June 30,                            June 30,

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

INVESTMENT INCOME AND EXPENSES

   Income:
<S>                                                                <C>              <C>             <C>              <C>
   Interest from short-term investments                            $           50   $         121   $          159   $         286
   Interest and other income from portfolio investments                     3,257          39,242            6,273          80,294
                                                                   --------------   -------------   --------------   -------------
   Totals                                                                   3,307          39,363            6,432          80,580
                                                                   --------------   -------------   --------------   -------------

   Expenses:
   Management fee                                                          50,000          55,468          100,000         111,364
   Professional fees                                                        7,588           7,236           14,363          14,919
   Mailing and printing                                                     1,695           6,091            5,195           9,581
   Independent General Partners' fees                                       9,750          10,500           16,500          21,000
   Other expenses                                                           1,850          11,154            3,425          21,394
                                                                   --------------   -------------   --------------   -------------
   Totals                                                                  70,883          90,449          139,483         178,258
                                                                   --------------   -------------   --------------   -------------

NET INVESTMENT LOSS                                                       (67,576)        (51,086)        (133,051)        (97,678)

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

NET REALIZED LOSS FROM OPERATIONS                                         (67,576)       (119,276)        (179,274)       (165,868)

Change in unrealized depreciation of investments                           85,756        (632,298)        (463,515)         44,137
                                                                   --------------   -------------   --------------   -------------

NET (DECREASE) INCREASE IN NET ASSETS
   RESULTING FROM OPERATIONS                                       $       18,180   $    (751,574)  $     (642,789)  $    (121,731)
                                                                   ==============   =============   ==============   =============
</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>



                                                                                                   1999               1998
                                                                                               ------------       -------------
CASH FLOWS PROVIDED FROM (USED FOR)
   OPERATING ACTIVITIES

<S>                                                                                             <C>                 <C>
Net investment loss                                                                             $    (133,051)      $   (97,678)

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

Decrease (increase) in accrued interest and other receivables                                           3,429           (65,522)
Increase in payables                                                                                  160,051           123,279
                                                                                                -------------       -----------
Cash provided from (used for) operating activities                                                     30,429           (39,921)
                                                                                                -------------       -----------

CASH FLOWS (USED FOR) PROVIDED FROM
   INVESTING ACTIVITIES

Cost of portfolio investments purchased                                                               (50,000)          (40,815)
Proceeds from the sale of portfolio investments                                                        14,365            68,785
                                                                                                -------------       -----------
Cash (used for) provided from investing activities                                                    (35,635)           27,970
                                                                                                -------------       -----------

Decrease in cash and cash equivalents                                                                  (5,206)          (11,951)

Cash and cash equivalents at beginning of period                                                        7,998            16,061
                                                                                                -------------       -----------

CASH AND CASH EQUIVALENTS AT END OF PERIOD                                                      $       2,792       $     4,110
                                                                                                =============       ===========


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 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 Six Months Ended June 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                              (74)           (47)            (132,930)                 -           (133,051)

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                $    584,131      $   3,417      $     9,707,858(A)  $   (5,884,154)   $     4,411,252
                                        ============      =========      ===============     ===============    ==============


</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 $389.


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 June 30, 1999, which was recorded for financial  statement  purposes,
has not been recognized for tax purposes.  Additionally,  from inception to June
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
<TABLE>

As of June 30, 1999, the Partnership's investments were categorized as follows:

                                                                                                          Percentage of
Type of Investments                                        Cost                   Fair Value                  Net Assets*
-------------------                                   ---------------           ---------------               -----------
<S>                                                  <C>                         <C>                          <C>
Preferred Stock                                      $      5,835,016            $    3,065,969               69.50%
Common Stock                                                4,771,824                 1,656,717               37.56%
Debt Securities                                               152,940                   152,940                 3.47%
                                                     ----------------            --------------             ---------
Total                                                $     10,759,780            $    4,875,626             110.53%
                                                     ================            ==============             =======

Country/Geographic Region
Midwestern U.S.                                      $      6,824,387            $    3,379,369               76.61%
Eastern U.S.                                                3,935,393                 1,496,257               33.92%
                                                     ----------------            --------------             --------
Total                                                $     10,759,780            $    4,875,626             110.53%
                                                     ================            ==============             =======

Industry
Wireless Communications                              $      5,401,098            $    2,976,429               67.48%
Computer Software                                           3,096,597                   657,461               14.90%
Vending Equipment                                           1,423,289                   402,940                9.13%
Semiconductors                                                838,796                   838,796               19.02%
                                                     ----------------            --------------             --------
Total                                                $     10,759,780            $    4,875,626             110.53%
                                                     ================            ==============             =======
</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 June 30, 1999, the  Partnership  held $2,792 in an  interest-bearing  cash
account.  The Partnership earned interest from its cash balances of $50 and $159
for the three and six months ended June 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. During the six months ended June 30, 1999, the
Partnership   completed  a  follow-on   investment  of  $50,000  in  Thunderbird
Technologies, Inc.

As of June 30, 1999, the  Partnership's  current  liabilities  exceeded its cash
balance by  approximately  $500,600.  Current  liabilities  as of June 30,  1999
include  $411,304  due  to  the  Management  Company  and  $69,000  due  to  the
Independent  General Partners.  Funds needed to cover such current  liabilities,
future follow-on investments,  if any, and operating expenses are expected to be
obtained  primarily from proceeds 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 six months  ended June 30,  1999,  the  Partnership  had a net
realized loss from  operations of $67,576 and  $179,274,  respectively.  For the
three and six months ended June 30,  1998,  the  Partnership  had a net realized
loss from operations of $119,276 and $165,868,  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 June 30, 1999,  the  Partnership  had no realized gains or losses from its
portfolio  investments.  For the six months ended June 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.  In April 1994,  Eidetics  Incorporated  was sold in a  management
buyout for a $4,190  cash down  payment  and  potential  future  payments  to be
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 and six months  ended June 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
June 30, 1999 and 1998 was $67,576 and  $51,086,  respectively.  The increase in
net investment  loss for the 1999 period as compared to the same period in 1998,
is comprised of a $36,056  decrease in investment  income  partially offset by a
$19,566  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.  Additionally,  there was a decline mailing
and printing  expenses due to a reversal,  during 1999, of prior period accruals
and a general  decrease in such  expenses for the 1999 period as compared to the
same period for 1998.

Net investment loss for the six months ended June 30, 1999 and 1998 was $133,051
and  $97,678,  respectively.  The increase in net  investment  loss for the 1999
period  as  compared  to the same  period  in 1998,  is  comprised  of a $74,148
decrease  in  investment  income  partially  offset  by a  $38,775  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 as discussed  above.  The decrease in operating  expenses  primarily
resulted from a decline in the management fee, the database  management fee, and
mailing and printing  expenses as  discussed  above.  Additionally,  Independent
General  Partners' fees declined $4,500,  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.

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 June 30, 1999 and 1998 was $50,000 and $55,468, respectively.
The  management fee for the six months ended June 30, 1999 and 1998 was $100,000
and $111,364, 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,  however,  the Management  Company agreed to provided
such services for no additional fee.

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.


<PAGE>


Unrealized   Gains  and  Losses  and  Changes  in  Unrealized   Appreciation  or
Depreciation of Portfolio  Investments - For the six months ended June 30, 1999,
the Partnership had a $463,515 unfavorable change in net unrealized depreciation
of investments, resulting from the net downward revaluation of the Partnership's
remaining portfolio investments.

For the six months ended June 30, 1998, the Partnership had a $44,137  favorable
change in net unrealized  depreciation of investments  primarily  resulting from
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.  This  increase was  partially
offset by a $9,610 net downward  revaluation of the Partnership's  investment in
EIS  International,  Inc.,  due to a decrease in the public  market price of the
company's common stock at the end of the 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.

As of June 30, 1999, the Partnership's net assets were $4,417,252,  reflecting a
decrease of $636,789 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
six month period, comprised of the $463,515 unfavorable change in net unrealized
depreciation of investments and the $173,274 net realized loss from operations.

As of June 30, 1998, the Partnership's net assets were $6,456,385,  reflecting a
decrease of $121,731 from net assets of  $6,578,116  at December 31, 1997.  This
change  represents the decrease in net assets  resulting from operations for the
six month period,  comprised of the $165,868 net realized  loss from  operations
partially offset by the $44,137 favorable change in net unrealized  depreciation
of investments.

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,  1999  and  December  31,  1998  was  $390  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
October 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 June 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 June 30, 1999.  Market risk
relating to the Partnership's  interest-bearing cash equivalents held as of June
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.

The 1999 Annual Meeting of Limited Partners,  originally  scheduled for June 28,
1999,  was held on July 23, 1999.  At the meeting,  the  following  matters were
voted on and approved:
<TABLE>

                                                                     Affirmative
                                                                         Votes                Withheld

Election of the four Individual General Partners, to serve for the ensuing year:
<S>                                                                     <C>                    <C>
Jeffrey T. Hamilton                                                     4,237                  1,473
Robert S. Ames                                                          4,433                  1,277
Alfred M. Bertocchi                                                     4,441                  1,269
George M. Weimer                                                        4,434                  1,276


                                                                     Affirmative             Negative
                                                                         Votes                  Votes              Abstentions

Election of the General Partner, WTVI Co., L.P.
to serve as Managing General Partner
for the ensuing year.                                                   4,257                  1,453                 n/a

Approval of the continuance of the
Management Agreement between the
Partnership and the Management Company                                  3,808                  1,560                 342

Ratification of the selection of
BDO Seidman LLP as independent
auditors for the Partnership's fiscal
year ending December 31, 1999                                           4,657                  781                   272

</TABLE>

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/s       Jeffrey T. Hamilton  President, Secretary and Director
              Jeffrey T. Hamilton            (PrincipalExecutive Officer) of
                                             of Hamilton Capital Management Inc.
                                             and Individual General Partner of
                                             Westford Technology Ventures, L.P.


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



Date:         August 16, 1999