Rand Capital Corp. has invested $1.1 million in an Orlando, Fla., company that makes surgical instruments used in minimally invasive surgery.
The Buffalo venture capital firm was the lead investor in a $2 million round of fundraising for Genicon, which makes surgical instruments that are used in laparoscopic surgery. The company plans to use the money it raised to buy equipment for a new operations center. The expansion will increase Genicon’s production capacity six-fold.
The investment, which was made through a term loan, is Rand’s second in Genicon, following a $1 million preferred stock investment it made in April 2015.