Rand Capital holds interests in companies mainly in New York and surrounding states. Steering clear of startups and publicly traded firms, the business development company focuses on small to midsized private businesses in the technology, industrial, health care, and service industries. Rand Capital has stakes in approximately 20 firms and usually takes on three to five additional investments each year. The active investor usually acquires a minority stake in its target companies and invests between $50,000 and $5 million. Rand Capital typically holds the investment for up to five years. Founded in 1969 by George Rand III and Donald Ross, Rand Capital manages a portfolio worth more than $20 million.