CEO Allen Grum, Rand Capital Insider Buys $16,400 of Shares on March 12th, 2014
Allen Grum, CEO of Rand Capital, bought 5,000 shares of Rand Capital (Stock Symbol: RAND) at $3.27 per share for a total amount of $16,400 thousand on March 12th, 2014.
Rand Capital is located in Buffalo, NY.
On 02/25/2014, Rand Capital, a Buffalo, New York based Business Development Company (BDC) and Small Business Investment Company (SBIC), notes that Ithaca, New York based portfolio company, GiveGab, Inc. (www.givegab.com) has reported significant and record increases in its user base, participating non-profit and University adoption and global usage in its social network for volunteers. The GiveGab press release can be seen at http://info.givegab.com/blog/2014/2/14/givegab-announces-record-breaking-year-in-2013.
On 02/25/2014, Rand Capital a business development company (BDC) that provides capital for small to medium-sized private companies, announced its operating results for the quarter and year ended December 31, 2013 with a net asset value of $4.38 per share, an increase of 12%, as compared to $3.90 per share in the prior quarter and at December 31, 2012.
According to Capital IQ, Rand Capital has a market cap of $21.16 million, an enterprise value of $18.39 million, and trailing 12 month revenues of 7.48 million.
Rand Capital Corporation is a business development company specializing in venture capital investments. The firm prefers to make investments in early venture and in small to medium-sized privately held companies. The firm does not prefer to invest in real estate sector. It invests in companies that are engaged in the exploitation of new or unique products or services. It seeks to invest in companies based in the Western and Upstate New York region and its surrounding states with focus on Buffalo and Niagara region. The firm may invest in region within three to five hour drives from Western New York including Canada. It typically invests between $500,000 and $1.5 million and the total investment in rounds is between $1 million and $5 million. The firm seeks to be a lead investor in companies within its geographical area and participates in syndicate with other investors outside it. It prefers to invest in businesses that are unique or possess proprietary right. The firm prefers to be a minority investor and seeks to take a Board seat in its portfolio companies. It typically holds its investments for a period of five to seven years. Rand Capital Corporation was founded in 1969 and is based in Buffalo, New York.
Allen Grum’s most recent annual compensation from Rand Capital is a salary of $361,430, $30,690 in other compensation, and a total compensation of $392,120. Mr. Grum is 55 years old.
According to his biography, Mr. Allen F. Grum serves as President, Chief Executive Officer, Director of Rand Capital Corporation since 1996. He has been employed with Rand Capital Corporation since 1995.Prior thereto, Mr. Grum served as Senior Vice President of Rand Capital Corporation commencing in June 1995. From 1994 to 1995, Mr. Grum was Executive Vice President of Hamilton Financial Corporation and from 1991-1994 he served as Senior Vice President of Marine Midland Mortgage Corporation. Mr. Grum serves on a number of Boards of Directors of companies in which Rand Capital Corporation has an investment. His in-depth knowledge of Rand Capital Corporation’s operations, and the industries in which the Company operates makes Mr. Grum highly qualified to serve as a Director.
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