Profile: Rand Capital Corp (RAND.O)
23 May 2017
Rand Capital Corporation (Rand), incorporated on February 24, 1969, is a closed-end, diversified, management investment company. The Company makes venture capital investments in early or expansion-stage companies, typically in New York and its surrounding states. The Company provides managerial assistance to the portfolio companies in which it invests. The Company makes the majority of its investments through its subsidiary, Rand Capital SBIC, Inc. (Rand SBIC), which operates as a small business investment company (SBIC). The Company operates as an internally managed investment company. The Company invests in a mixture of debt and equity instruments. The debt securities have an equity component in the form of warrants or options to acquire stock or the right to convert the debt securities into stock.
The Company's principal investment objective is to achieve long-term capital appreciation on its equity investments while maintaining a cash flow from its debenture and pass-through equity instruments. The Company makes initial investments in a company through equity or in debt or loan instruments. The debt instruments generally have a maturity of over five years and usually have detachable equity warrants.
Rand Capital Corp
2200 Rand Building
BUFFALO NY 14203