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Rand Capital Corp. has invested $1 million in Mercantile Adjustment Bureau, the Williamsville collections agency that last month acquired local rival Creditors Interchange Receivable Management.

Rand made the investment as part of a larger round of acquisition-related funding that included Pine Street Capital partners, an Albany-based investment firm.

Daniel P. Penberthy, Rand’s executive vice president, the Buffalo venture capital firm was drawn to the deal because of Mercantile’s experienced management and its growth potential, even though it has turned down investments in the collections industry in the past.

Following the acquisition of Cheektowaga-based Creditors Interchange, Mercantile now has more than 500 employees and offices in five states and Canada.