Rand Capital Q3 investment income falls 17% year over year
RAND•Rand Capital’s fiscal Q3 total investment income fell 17% year over year, while net investment income declined to $0.23 per share from $0.33. Interest income from portfolio companies rose 4% sequentially, driven by new investments.
1. Income and portfolio updates
Rand Capital said lower total investment income was primarily due to certain investments being placed on non-accrual status, reducing interest income. Interest income from portfolio companies rose 4% sequentially, with contributions from investments made earlier in the year. Valuation increases in some portfolio companies were partly offset by decreases in others.
