Mr. Penberthy was appointed President and Chief Executive Officer in December 2021.  He had served as Treasurer and Chief Financial Officer of Rand since 1997.  He oversees the Company’s investment activities and takes an active role in the investment process from deal sourcing to fund marketing. Prior to joining RAND, Mr. Penberthy served as Chief Financial Officer for both the Greater Buffalo Partnership (formerly the Chamber of Commerce) and the Greater Buffalo Convention and Visitors Bureau. Mr. Penberthy also worked with the Greater Buffalo Development Foundation and KPMG. He earned his Bachelor of Science from St. Bonaventure University and his Master of Business Administration from the State University of New York at Buffalo,

Ms. Brechtel was appointed Executive Vice President, Treasurer, Chief Financial Officer and Secretary in December 2021. Prior to that she had served as Vice President of Finance of Rand since 2002. She oversees all the financial operations of Rand and is responsible for regulatory compliance and financial reporting.  Prior to Rand, she was Director of Business Operations and Controller at Cellular One and held financial positions at Comptek Research, Union Carbide and KPMG.  Ms. Brechtel earned her Bachelor of Science and her Master of Business Administration from the State University of New York at Buffalo and is a Certified Public Accountant in the State of New York. Ms. Brechtel is actively involved in a variety of non-profit organizations including Rotary Club of Buffalo and the Junior League of Buffalo.

Brendan was hired as Assistant Controller of Rand Capital Management, LLC, the Company’s external investment adviser, in September 2022. Brendan is responsible for financial reporting and preparing Rand’s consolidated financial statements. He also takes an active role in Rand’s budgeting, cash management, tax planning, regulatory reporting, and maintaining internal controls. Prior to joining Rand, he was a Senior Accountant in the tax and audit departments at Brock, Schechter & Polakoff LLP. Brendan earned his Bachelor of Science and Master of Business Administration from Canisius College and is a Certified Public Accountant in the State of New York.