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, 1998

Or

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

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


                       WESTFORD TECHNOLOGY VENTURES, L.P.
==============================================================================

             (Exact name of registrant as specified in its charter)


Delaware                                                             13-3423417
==============================================================================

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

17 Academy Street, 5th Floor
Newark, New Jersey                                                   07102-2905
==============================================================================

(Address of principal executive offices)                             (Zip Code)

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

Not applicable
===============================================================================

Former name, former address and former fiscal year, if changed since last report

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



<PAGE>


                       WESTFORD TECHNOLOGY VENTURES, L.P.

                                      INDEX



PART I.       FINANCIAL INFORMATION

Item 1.       Financial Statements.

Balance Sheets as of June 30, 1998 (Unaudited) and December 31, 1997

Schedule of Portfolio Investments as of June 30, 1998 (Unaudited)

Statements of Operations for the Three and Six Months Ended June 30, 1998
 and 1997 (Unaudited)

Statements of Cash Flows for the Six Months Ended June 30, 1998 and 1997
 (Unaudited)

Statement of Changes in Partners' Capital for the Six Months Ended June 30,
 1998 (Unaudited)

Notes to Financial Statements (Unaudited)

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


PART II.      OTHER INFORMATION

Item 1.       Legal Proceedings.

Item 2.       Changes in Securities.

Item 3.       Defaults upon Senior Securities.

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

Item 5.       Other Information.

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



<PAGE>


                         PART I - FINANCIAL INFORMATION

Item 1.       Financial Statements.

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


                                                                                       June 30, 1998            December 31,
                                                                                        (Unaudited)                 1997
ASSETS

Portfolio investments, at fair value (cost $10,460,214 at
<S>     <C> <C>      <C>                     <C> <C>                                 <C>                      <C>             
   June 30, 1998 and $10,528,421 at December 31, 1997)                               $     6,342,794          $      6,366,864
Cash and cash equivalents                                                                      4,110                    16,061
Receivable from securities sold (net of unamortized discount of
   $50,353 at June 30, 1998 and $66,322 at December 31, 1997)                                 95,470                   122,180
Accrued interest receivable                                                                  214,279                   150,000
                                                                                     ---------------          ----------------

TOTAL ASSETS                                                                         $     6,656,653          $      6,655,105
                                                                                     ===============          ================

LIABILITIES AND PARTNERS' CAPITAL

Liabilities:
Accounts payable and accrued expenses                                                $        45,402          $         44,355
Due to Management Company                                                                    123,366                    22,134
Due to Independent General Partners                                                           31,500                    10,500
                                                                                     ---------------          ----------------
   Total Liabilities                                                                         200,268                    76,989
                                                                                     ---------------          ----------------

Partners' Capital:
Managing General Partner                                                                     577,953                   577,197
Individual General Partners                                                                    3,518                     3,577
Limited Partners (11,217 Units)                                                            9,992,334                10,158,899
Unallocated net unrealized depreciation of investments                                    (4,117,420)               (4,161,557)
                                                                                     ---------------          ----------------
   Total Partners' Capital                                                                 6,456,385                 6,578,116
                                                                                     ---------------          ----------------

TOTAL LIABILITIES AND PARTNERS' CAPITAL                                              $     6,656,653          $      6,655,105
                                                                                     ===============          ================
</TABLE>


See notes to financial statements.


<PAGE>


WESTFORD TECHNOLOGY VENTURES, L.P.
SCHEDULE OF PORTFOLIO INVESTMENTS (Unaudited)
June 30, 1998
<TABLE>
<S>     <C>    <C>    <C>    <C>    <C>    <C>

                                                                     Initial Investment
Company / Position                                                          Date                  Cost               Fair Value
EIS International, Inc.(A) (B)
228,682 shares of Common Stock                                           Mar. 1990           $    3,096,597       $   1,229,166
-------------------------------------------------------------------------------------------------------------------------------
Inn-Room Systems, Inc. (C) *
1,548,494 shares of Common Stock                                         Oct. 1989                1,320,349             774,247
Demand Promissory Note at prime plus 1% due 12/31/98                                                102,940             102,940
                                                                                             --------------       -------------
                                                                                                  1,423,289             877,187
-------------------------------------------------------------------------------------------------------------------------------
Spectrix Corporation*
742,304 shares of Preferred Stock                                        June 1989                3,511,351           1,113,458
274,862 shares of Common Stock                                                                      142,681             412,293
Demand Promissory Notes at 8%                                                                     1,497,500           1,497,500
Warrants to purchase 424,394 shares of Common Stock
   at $.50 per share, expiring between 12/31/99 and 4/30/03                                               0             424,394
Warrants to purchase 50,000 shares of Common Stock at
   $4.00 per share, expiring 04/30/03                                                                     0                   0
                                                                                             --------------       -------------
                                                                                                  5,151,532           3,447,645
-------------------------------------------------------------------------------------------------------------------------------
Thunderbird Technologies, Inc.
788,796 shares of Preferred Stock                                        Oct. 1992                  788,796             788,796
-------------------------------------------------------------------------------------------------------------------------------

TOTALS                                                                                       $   10,460,214       $   6,342,794
                                                                                             ==============       =============
</TABLE>


(A) Public company.

 (B)In May 1998, the Partnership  exercised  warrants for the purchase of 29,015
    common  shares  of EIS  International,  Inc.  for a total  cost of  $40,815.
    Subsequently,  the  Partnership  sold 6,600 common shares of EIS for $40,832
    realizing a loss of $68,190.

(C) In June 1998, the Partnership  exercised warrants for the purchase of 68,003
    common shares of Inn-Room Systems,  Inc. The cost to exercise such warrants,
    totaling  $680,  was paid through the reduction of the principal  balance of
    the demand promissory note, due from the company, from $103,620 to $102,940.


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

See notes to financial statements.


<PAGE>


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

<TABLE>


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

                                                                        1998            1997             1998            1997
                                                                   --------------   ------------    --------------   --------

INVESTMENT INCOME AND EXPENSES

   Income:
<S>                                                                <C>              <C>             <C>              <C>        
   Interest from short-term investments                            $          121   $      2,777    $          286   $    10,460
   Interest and other income from portfolio
     investments                                                           39,242         31,864            80,294        58,599
                                                                   --------------   ------------    --------------   -----------
   Totals                                                                  39,363         34,641            80,580        69,059
                                                                   --------------   ------------    --------------   -----------

   Expenses:
   Management fee                                                          55,468         55,896           111,364       111,792
   Professional fees                                                        7,236          8,242            14,919        16,870
   Mailing and printing                                                     6,091          3,522             9,581         6,692
   Independent General Partners' fees                                      10,500         10,500            21,000        21,000
   Other expenses                                                          11,154         10,882            21,394        31,694
                                                                   --------------   ------------    --------------   -----------
   Totals                                                                  90,449         89,042           178,258       188,048
                                                                   --------------   ------------    --------------   -----------

NET INVESTMENT LOSS                                                       (51,086)       (54,401)          (97,678)     (118,989)

Net realized loss from portfolio investments                              (68,190)       (31,665)          (68,190)      (31,665)
                                                                   --------------   ------------    --------------   -----------

NET REALIZED LOSS FROM OPERATIONS                                        (119,276)       (86,066)         (165,868)     (150,654)

Change in unrealized depreciation of investments                         (632,298)       650,254            44,137       223,462
                                                                   --------------   ------------    --------------   -----------

NET (DECREASE) INCREASE IN NET ASSETS
   RESULTING FROM OPERATIONS                                       $     (751,574)  $    564,188    $     (121,731)  $    72,808
                                                                   ==============   ============    ==============   ===========
</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>

                                                                                                   1998               1997
                                                                                               ------------       --------

CASH FLOWS USED FOR OPERATING ACTIVITIES
<S>     <C>    <C>    <C>    <C>    <C>    <C>

Net investment loss                                                                             $   (97,678)      $    (118,989)

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

Increase in accrued interest receivable                                                             (65,522)            (49,856)
Increase (decrease) in payables                                                                     123,279             (20,745)
                                                                                                -----------       -------------
Cash used for operating activities                                                                  (39,921)           (189,590)
                                                                                                -----------       -------------

CASH FLOWS PROVIDED FROM (USED FOR)
   INVESTING ACTIVITIES

Cost of portfolio investments purchased                                                             (40,815)           (600,000)
Proceeds from the sale of portfolio investments                                                      68,785              21,844
                                                                                                -----------       -------------
Cash provided from (used for) investing activities                                                   27,970            (578,156)
                                                                                                -----------       -------------

Decrease in cash and cash equivalents                                                               (11,951)           (767,746)
Cash and cash equivalents at beginning of period                                                     16,061             900,186
                                                                                                -----------       -------------

CASH AND CASH EQUIVALENTS AT END OF PERIOD                                                      $     4,110       $     132,440
                                                                                                ===========       =============


Supplemental disclosure of non-cash investing and
   financing activities:
   Acquisition of 68,003 common shares of Inn-Room
   Systems, Inc. - through reduction of notes                                                   $       680        $          -

</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, 1998

<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          $    577,197      $   3,577      $    10,158,899    $    (4,161,557)   $      6,578,116

Net investment loss                           14,934            (40)            (112,572)                 -             (97,678)

Net realized loss from portfolio
investments                                  (14,178)           (19)             (53,993)                 -             (68,190)

Change in unrealized depreciation
of investments                                     -              -                    -             44,137              44,137
                                        ------------       --------      ---------------     --------------     ---------------

Balance at end of period                $    577,953       $  3,518      $     9,992,334(A)  $   (4,117,420)    $     6,456,385
                                        ============       ========      ===============     ==============     ===============
</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 $570 at June 30, 1998.


See notes to financial statements.


<PAGE>


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

1.     Organization and Purpose

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

The  Partnership's  objective is to achieve  long-term  capital  appreciation by
making venture  capital  investments  in new and developing  companies and other
special  investment  situations.  The  Partnership  will not engage in any other
business or activity.  The Partnership is scheduled to terminate on December 31,
1998, subject to the right of the Individual General Partners to extend the term
for up to two additional two-year periods.

2.     Significant Accounting Policies

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

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

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


<PAGE>


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



Income Taxes - No provision  for income taxes has been made since all income and
losses are  allocable to the Partners for inclusion in their  respective  income
tax returns.  The  Partnership's  net assets for  financial  reporting  purposes
differ from its net assets for tax purposes. Net unrealized depreciation of $4.1
million at June 30, 1998, which was recorded for financial  statement  purposes,
has not been recognized for tax purposes.  Additionally,  from inception to June
30, 1998, 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.

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  charges  the  Partnership  $8,500 per
quarter.  This  amount is paid to the  Management  Company  in  addition  to the
regular management fee discussed above.

5.     Independent General Partners' Fees

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


<PAGE>


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

6.     Classification of Portfolio Investments

As of June 30, 1998, 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                                      $      4,300,147            $    1,902,254               29.46%
Common Stock                                                4,559,627                 2,840,100               43.99%
Debt Securities                                             1,600,440                 1,600,440               24.79%
                                                     ----------------            --------------               ------

Total                                                $     10,460,214            $    6,342,794               98.24%
                                                     ================            ==============               ======

Country/Geographic Region
Midwestern U.S.                                      $      6,574,821            $    4,324,832               66.98%
Eastern U.S.                                                3,885,393                 2,017,962               31.26%
                                                     ----------------            --------------               ------

Total                                                $     10,460,214            $    6,342,794               98.24%
                                                     ================            ==============               ======

Industry
Wireless Communications                              $      5,151,532            $    3,447,645               53.39%
Computer Software                                           3,096,597                 1,229,166               19.04%
Vending Equipment                                           1,423,289                   877,187               13.59%
Semiconductors                                                788,796                   788,796               12.22%
                                                     ----------------            --------------              -------

Total                                                $     10,460,214            $    6,342,794               98.24%
                                                     ================            ==============               ======

</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

At June 30,  1998,  the  Partnership  held  $4,110 in an  interest-bearing  cash
account.  The Partnership earned $121 and $286 of interest for such cash account
for the three and six months ended June 30, 1998, respectively.  Interest earned
from  short-term  investments  in future periods is subject to  fluctuations  in
short-term  interest  rates and changes in amounts  available for  investment in
such securities.

During the three months  ended June 30,  1998,  the  Partnership  exercised  its
warrant to purchase 29,015 common shares of EIS International, Inc. for $40,815.
Also during the quarter,  the  Partnership  sold 6,600 common  shares of EIS for
$40,832.  The Partnership has fully invested the net proceeds  received from the
offering of Units and will not make investments in any new portfolio  companies.
However, the Partnership may make additional  follow-on  investments in existing
portfolio companies when required.

As of June 30, 1998, the  Partnership's  current  liabilities  exceeded its cash
balance  by  approximately   $200,000.   Funds  needed  to  cover  such  current
liabilities and the  Partnership's  future  follow-on  investments and operating
expenses are expected to be obtained from existing cash  reserves,  interest and
other income from portfolio  investments and proceeds from the sale of portfolio
investments.  As a result of the current cash shortage, payments to the Managing
General  Partner  and  Independent   General   Partners  have  been  temporarily
suspended.


Results of Operations

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.  For the
three and six months ended June 30,  1997,  the  Partnership  had a net realized
loss from operations of $86,066 and $150,654, respectively. Net realized gain or
loss from operations is comprised of 1) net realized gain or loss from portfolio
investments  and 2) net  investment  income  or  loss  (investment  income  less
operating expenses).

Realized  Gains and Losses from  Portfolio  Investments  - For the three and six
months ended June 30, 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, as discussed above.

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

Investment  Income and Expenses - Net investment loss for the three months ended
June 30, 1998 and 1997 was $51,086 and  $54,401,  respectively.  The decrease in
net  investment  loss for the three months  ended June 30, 1998  compared to the
same period in 1997,  is comprised  of a $4,722  increase in  investment  income
partially  offset by a $1,407  increase in operating  expenses.  The increase in
investment  income for the 1998  period is  comprised  of a $7,378  increase  in
income  from  portfolio  investments  partially  offset by a $2,656  decrease in
interest  from  short-term  investments.  The increase in income from  portfolio
investments is due to the additional  promissory  notes of Spectrix  Corporation
held by the  Partnership  during the 1998 period  compared to the same period in
1997. The decrease in interest from  short-term  investments for the 1998 period
primarily  is due to a  reduction  of funds  available  for  investment  in such
securities during the 1998 period.  The increase in operating expenses primarily
is the result of a $2,569  increase in mailing and printing  expenses  partially
offset by a $1,162  net  decrease  in other  operating  expenses.  The  increase
mailing and printing expenses resulted primarily from additional charges related
to the 1998 proxy tabulation.

Net investment  loss for the six months ended June 30, 1998 and 1997 was $97,678
and $118,989,  respectively.  The decrease in net  investment  loss for the 1998
period as  compared  to the same  period in 1997,  is  comprised  of an  $11,521
increase in investment income and a $9,790 decrease in operating  expenses.  The
increase  in  investment  income for the 1998 period is  comprised  of a $21,695
increase  in income from  portfolio  investments  partially  offset by a $10,174
decrease in interest from  short-term  investments.  The increase in income from
portfolio  investments  relates to the additional  promissory  notes of Spectrix
Corporation held by the Partnership  during the 1998 period compared to the same
period in 1997.  The decrease in interest from  short-term  investments  for the
1998 period  compared to the same period in 1997 primarily is due to a reduction
of funds available for investment in such securities during the 1998 period. The
decrease in  operating  expenses  for the 1998 period  primarily  resulted  from
miscellaneous other expense accrual adjustments made during the first quarter of
1997.

The  Management  Company is responsible  for the  management and  administrative
services necessary for the operation of the Partnership.  The Management Company
receives  a  management  fee at the  annual  rate of 2.5% of the  gross  capital
contributions to the Partnership (net of selling  commissions and organizational
expenses paid by the Partnership),  reduced by capital  distributed and realized
losses, with a minimum annual fee of $200,000.  The management fee for the three
months  ended June 30, 1998 and 1997 was $55,468 and $55,896  respectively.  The
management  fee for the six months ended June 30, 1998 and 1997 was $111,364 and
$111,792  respectively.  To the extent  possible,  the  management fee and other
expenses  incurred directly by the Partnership are paid with funds provided from
operations.  Funds provided from operations primarily are obtained from interest
received from short-term  investments,  income earned from portfolio investments
and proceeds received from the sale of portfolio investments.

Unrealized   Gains  and  Losses  and  Changes  in  Unrealized   Appreciation  or
Depreciation of Portfolio  Investments - For the six months ended June 30, 1998,
the Partnership had a $9,610 net unrealized loss resulting from the net downward
revaluation of its 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.
Additionally  during  the  six  month  period,   $53,747  was  transferred  from
unrealized  loss to realized loss due to the sale of 6,600 common shares of EIS,
as discussed  above.  The $53,747  transfer to realized loss partially offset by
the $9,610 unrealized loss,  reduced net unrealized  depreciation of investments
by $44,137 for the six month period.

For the  six  months  ended  June  30,  1997,  the  Partnership  had a  $223,462
unrealized gain,  resulting from the net upward revaluation of its investment in
EIS, due to an increase in the public market price of the company's common stock
at  the  end  of  the  period.  Accordingly,   net  unrealized  depreciation  of
investments was reduced by $223,462 for the six month period.

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

As of June 30, 1998, the Partnership's net assets were $6,456,385, down $121,731
from $6,578,116 at December 31, 1997. The $121,731 decrease was comprised of the
$165,868  net realized  loss from  operations,  partially  offset by the $44,137
reduction  to net  unrealized  depreciation  of  investments  for the six  month
period.

As of June 30, 1997, the  Partnership's  net assets were $9,085,903,  up $72,808
from $9,013,095 at December 31, 1996. The $72,808  increase was comprised of the
$223,462  reduction to net unrealized  depreciation  of  investments,  partially
offset by the  $150,654  net  realized  loss from  operations  for the six month
period.

Gains and  losses  from  investments  are  allocated  to the  Partners'  capital
accounts when realized in accordance with the Partnership  Agreement (see Note 3
of Notes to Financial Statements).  However, for purposes of calculating the net
asset value per unit of limited  partnership  interest ("Unit"),  net unrealized
appreciation  or depreciation of investments has been included as if it had been
realized  and  allocated  to  the  Limited   Partners  in  accordance  with  the
Partnership  Agreement.  Pursuant to such  calculation,  the net asset value per
$1,000  Unit at June  30,  1998  and  December  31,  1997  was  $570  and  $580,
respectively.


<PAGE>


                           PART II - OTHER INFORMATION

Item 1.       Legal Proceedings.

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

Item 2.       Changes in Securities.

Not applicable.

Item 3.       Defaults Upon Senior Securities.

Not applicable.

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

The 1998  Annual  Meeting  of  Limited  Partners  was held on June 26,  1998 and
reconvened on July 10, 1998. 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                                                     4,337                  1,634
Robert S. Ames                                                          4,343                  1,628
Alfred M. Bertocchi                                                     4,349                  1,622
George M. Weimer                                                        4,343                  1,628

Election of the General Partner, WTVI Co., L.P. to
serve as Managing General Partner
for the ensuing year.                                                   4,539                  1,432

                                                                      Affirmative             Negative
                                                                         Votes                  Votes              Abstentions

Approval of the continuance of the
Management Agreement between the
Partnership and the Management Company                                  4,472                  1,802                 399

Ratification of the selection of
BDO Seidman LLP as independent
auditors for the Partnership's fiscal
year ending December 31, 1998                                           4,809                  811                   351
</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
<TABLE>
<S>     <C>    <C>    <C>    <C>    <C>    <C>


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


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

</TABLE>


Date:         August 13, 1998