Pursuant to 18 U.S.C Section 1350 as Adopted Pursuant to Section 906

Of the Sarbanes-Oxley Act of 2002

Pursuant to 18 U.S.C. Section 1350 as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of Rand Capital Corporation (the “Company”), does hereby certify, to such officer’s knowledge, that:

The Annual Report on Form 10-K for the year ended December 31, 2021 (the “Form 10-K”) of the Company fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and the information contained in the Form 10-K fairly presents, in all material respects, the financial condition and results of operations of the Company.


Dated: March 8, 2022    
      /s/  Daniel P. Penberthy
      Daniel P. Penberthy, Chief Executive Officer and President
      (Chief Executive Officer)
Dated: March 8, 2022    
      /s/  Margaret W. Brechtel
      Margaret W. Brechtel, Executive Vice President, Chief Financial Officer and Treasurer
      (Chief Financial Officer)