Dan Penberthy is the co investment manager of Rand Capital a Buffalo based venture capital fund. Rand is a founding member of the NASDAQ Stock market, from 1971., [RAND] Dan is also the CFO and EVP of Rand Rand has a $33 million portfolio, representing 25 portfolio companies Local investments include:  Crowdbouncer, Empire Genomics, First Wave Products, Gemcor, Mercantile Collections, QuaDPharma, Synacor, Ultrascan, Advantage 24/7, Liazon Thru June 30, 2014 Rand has made $4.5 million in investments  across 9 portfolio companies. Rand receives funding from the SBA, thru its SBIC investment program, to make portfolio investments, having began with the program in 2002. From 2002, rand has invested $38 million into 38 portfolio companies, thru 116+ financing transactions. Rand has had recent exits thru Ultra-scan (Qualcomm), Liazon (Towers Watson), Synacor (IPO). Rand has generated$15+ million in net realized gains, having exited 22 portfolio companies. Dan is a graduate of University at Buffalo, and St. Bonaventure. Dan is also on the Board of the WNY Venture Association and the Upstate NY Venture Association….as well as several other non-profit organizations