Exhibit 21.1

 

Subsidiaries of Rand Capital Corporation

 

Subsidiary   Jurisdiction of Incorporation
     
Rand BeetNPath Holdings Corp.   New York
     
Rand Capital SBIC, Inc.   New York
     
Rand Carolina Skiff Holdings Corp.   New York
     
Rand Filterworks Holdings Corp.   New York
     
Rand GTEC Holdings Corp.   New York
     
Rand Somerset Holdings Corp.   New York