Rand Capital Management

Private Equity SEC-registered adviser

Legal name: Rand Capital Management LLC

Buffalo, NY Website

AUM

$136.7M
Regulatory AUM

Private funds

2
Private Equity 2

Private fund assets

$73.8M
Gross asset value

Employees

10

Last Form D raise

Jul 2023
Most recent fund filing

From SEC Form ADV filing (filed Mar 31, 2026). View on SEC

People(3)

Owners and executive officers named on the firm's SEC Form ADV.

D
Daniel Penberthy
Co-Chief Executive Officer
Source: SEC Form ADV
J
James Morrow
Co-Owner, Callodine Group
Source: SEC Form ADV
O
Oliver Barfield
Co-Chief Executive Officer
Source: SEC Form ADV

Funds(2)

Private funds reported on Form ADV, with amounts raised from the funds' SEC Form D filings.

FundTypeGross assetsRaised (Form D)InvestorsLast Form DRecency
Callodine Strategic Credit Fund II, LPPrivate Equity$53.7M$5.7M1Jul 2023Cold
Bluearc Mezzanine Partners I, LPPrivate Equity$20.1M$22.2M2Jun 2016Cold

Board seats(2)

Companies whose SEC Form D filings name one of this firm's people as a director, matched by name and office ZIP code.

BeetNPath
RetailingIthaca, NYDirector: Daniel Penberthy
$655K raised
Since Oct 2016
SEC Form D
Empire Genomics
Other Health CareBuffalo, NYDirector: Daniel Penberthy
$1.6M raised
Since Jul 2014
SEC Form D

Regulatory identifiers

CRD number
304504
SEC file number
801-116971

Sources