Annual report [Section 13 and 15(d), not S-K Item 405]

Document and Entity Information

v3.26.1
Document and Entity Information - USD ($)
4 Months Ended 8 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 10, 2025
Dec. 31, 2025
Mar. 05, 2026
Jun. 30, 2025
Cover [Abstract]          
Document Type     10-K/A    
Amendment Flag     true    
Amendment Description     EXPLANATORY NOTERand Capital Corporation (the “Corporation”) is filing this Amendment No. 1 (this “Amendment”) to its Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “2025 Form 10-K”) solely for the purpose of adding the “Report of Independent Registered Public Accounting Firm” issued by Freed Maxick P.C. (f/k/a Freed Maxick CPAs, P.C.) with respect to its audit of the financial statements of the Corporation as of December 31, 2024 and for each of the two years in the period ended December 31, 2024 (the “Report of the Predecessor Auditor”). As previously described in a Current Report on Form 8-K, on September 11, 2025, the Corporation replaced Freed Maxick P.C. as the Corporation’s independent registered public accounting firm with WithumSmith+Brown, PC, due to the acquisition of certain assets of Freed Maxick P.C. by WithumSmith+Brown, PC.The Report of the Predecessor Auditor was inadvertently omitted from the 2025 Form 10-K. Other than as described above, no other changes have been made to the 2025 Form 10-K, including with respect to the financial statements of the Corporation included in the 2025 Form 10-K.This Amendment does not reflect events occurring after the filing of the 2025 Form 10-K, does not update disclosures contained in the 2025 Form 10-K and does not modify or amend the 2025 Form 10-K except as specifically described above. Pursuant to Rule 12b-15 of the Securities Exchange Act of 1934, as amended, this Amendment contains the complete text of each Item that is amended and certifications of the Company’s Principal Executive Officer and Principal Financial Officer required under Items 302 and 906 of the Sarbanes-Oxley Act of 2002, as amended, dated as of the date of this Amendment, as well as updated inline XBRL exhibits.    
Document Period End Date     Dec. 31, 2025    
Document Fiscal Year Focus     2025    
Document Fiscal Period Focus     FY    
Trading Symbol     RAND    
Entity Registrant Name     Rand Capital Corporation    
Entity Well-known Seasoned Issuer     No    
Entity Central Index Key     0000081955    
Entity Current Reporting Status     Yes    
Entity Voluntary Filers     No    
Entity Interactive Data Current     Yes    
Current Fiscal Year End Date     --12-31    
Entity Filer Category     Non-accelerated Filer    
Entity Small Business     false    
Entity Shell Company     false    
Entity Emerging Growth Company     false    
Entity Public Float         $ 15,230,000
Entity Common Stock, Shares Outstanding       2,969,814  
Title of 12(b) Security     Common Stock, $0.10 par value    
Security Exchange Name     NASDAQ    
Entity File Number     814-00235    
Entity Incorporation, State or Country Code     NY    
Entity Tax Identification Number     16-0961359    
Entity Address, Address Line One     1405 Rand Building    
Entity Address, City or Town     Buffalo    
Entity Address, State or Province     NY    
Entity Address, Postal Zip Code     14203    
ICFR Auditor Attestation Flag     false    
City Area Code     716    
Local Phone Number     853-0802    
Document Annual Report     true    
Document Transition Report     false    
Document Financial Statement Error Correction [Flag]     false    
Auditor Firm ID 317 100      
Auditor Location Buffalo, New York Buffalo, New York      
Auditor Name Withum Smith+Brown, PC FREED MAXICK P.C. (F/K/A Freed Maxick CPAs, P.C.)      
Auditor Opinion    

Opinion on the Consolidated Financial Statements

We have audited the accompanying consolidated statement of financial position, including the consolidated schedule of portfolio investments, of Rand Capital Corporation and Subsidiaries (the Corporation) as of December 31, 2025, and the related consolidated statements of operations, changes in net assets, financial highlights and cash flows for the year ended December 31, 2025, and the related notes to the consolidated financial statements (collectively, the consolidated financial statements). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of Rand Capital Corporation and Subsidiaries as of December 31, 2025, and the results of its operations, its cash flows and financial highlights for the year ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

Opinion on the Financial Statements

We have audited the accompanying consolidated statement of financial position, including the consolidated schedule of portfolio investments, of Rand Capital Corporation and Subsidiaries (the Corporation) as of December 31, 2024, and the related consolidated statements of operations, changes in net assets and cash flows and the related notes to the consolidated financial statements for each of the two years in the period ended December 31, 2024, and the financial highlights schedule for each of the four years in the period ended December 31, 2024 (collectively, the financial statements). In our opinion, the financial statements and financial highlights schedule present fairly, in all material respects, the financial position of Rand Capital Corporation and Subsidiaries as of December 31, 2024, and the results of its operations and its cash flows for each of the two years in the period ended December 31, 2024, and the financial highlights for each of the four years in the period ended December 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

   
Documents Incorporated by Reference    

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the Corporation’s definitive proxy statement for the 2026 Annual Meeting of Shareholders are incorporated by reference into Part III of this report.