Double-digit asset growth for Rand
Rand Capital Corp. reported a 15 percent increase in first quarter net asset value per share.
The Buffalo-based business development company (NASDAQ: RAND) said its net asset value per share increased to $3.45 from $3.01 for the comparable period of 2007.
Net asset value fell 2-cents.
Rand Capital provides capital and managerial expertise for small- to mid-size private companies payday loan.
The company’s investment portfolio was valued at $26.4 million, which exceeds its cost basis of $13.4 million, reflecting $13.0 million in net unrealized appreciation.