Investment Performance - Total investment income increased by 11% to 2.1millioninQ42024,contributingtoafull−yearincreaseof178.6 million[5] - Total investment income for 2024 reached 8,559,285,a16.67,338,163 in 2023[26] - Net investment income for 2024 was 3,425,077,up15.42,967,733 in 2023[26] - Rand Capital reported a 17% growth in net investment income, reaching 3,425,077in2024comparedto2,967,733 in 2023[29] - Control investments generated 733,774ininterestincomefor2024,comparedto698,872 in 2023, marking a growth of 5%[26] - Affiliate investments contributed 4,739,802ininterestincomefor2024,a22.83,858,696 in 2023[26] - The company reported a net realized gain on sales of investments of 11,124,864for2024,comparedto691,397 in 2023, indicating a substantial increase[26] - The net realized gain on sales and dispositions of investments significantly increased to 11,124,864in2024from691,397 in 2023[29] Financial Position - Net asset value per share grew by 7% year-over-year to 25.31[5]−Totalassetsdecreasedto72,457,433 in 2024 from 81,021,982in2023,representingadeclineof10.37,124,913 in 2024 from 20,206,769in2023,adecreaseof64.865,332,520 in 2024, up from 60,815,213in2023,reflectinganincreaseof7.565,332,520, up from 60,815,213atthebeginningoftheyear[29]DividendsandReturns−Totaldividendsdeclaredin2024amountedto5.03 per share, including a 16% increase in the regular quarterly cash dividend[4] - Rand Capital declared dividends totaling 12,982,536in2024,significantlyhigherthan3,432,757 in 2023[29] Debt Management - Debt investments now account for 75% of Rand's portfolio, up from 64% at the end of 2023, enhancing yields and net interest income[5] - Outstanding bank debt was reduced by 15.7millionyear−over−year,withover24 million in remaining availability at December 31, 2024[5] - The company plans to continue strategic debt investments to enhance future growth prospects[25] - The company continues to focus on strategic debt investments to enhance its financial performance[30] Strategic Investments - Strategic capital deployment of nearly 14millionduring2024positionsRandforcontinuedgrowthin2025[5]−Randfundedanewinvestmentof2.9 million in Mobile IV Nurses Management LLC, consisting of a 2.5milliontermloananda375,000 equity investment[19] Expenses - Total expenses for the year ended December 31, 2024, were 4,837,282,upfrom4,178,319 in 2023[32] - Adjusted total expenses for 2024 were 3,824,982,comparedto3,373,619 in 2023[32] Cash Reserves - Cash reserves decreased to 834,805in2024from3,295,321 in 2023, a decline of 74.7%[24] Unrealized Gains and Losses - The net change in unrealized appreciation/depreciation on investments was a loss of 5,722,329in2024,contrastingwithagainof2,867,520 in 2023[29]
