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Rand adds to investment in Florida surgical instrument maker

Buffalo venture capital firm Rand Capital has invested an additional $3 million in Florida surgical instrument manufacturer Genicon.

Rand said it made the investment as part of a $6.6 million round of fundraising that included money from venture firms Advantage Capital and Coastal Enterprises.

Rand previously had invested in Genicon, which now is the largest single investment in the venture capital firm's portfolio. Genicon, based in Orlando, Fla., makes surgical instruments used in minimally invasive laparoscopic surgery.

Rand's investment now includes a $3 million term loan and $1 million in preferred stock.

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