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Keyhorse Capital is a venture capital firm established to support entrepreneurs in Kentucky. Originally the venture arm of the Kentucky Science and Technology Corporation (KSTC), the firm rebranded to Keyhorse Capital recently. Since its inception in 2002, Keyhorse Capital has focused on seed and early-stage investments, aiming to foster a community of innovative companies that stimulate economic growth and job creation in the region.
Currently, Keyhorse Capital manages a fund size of $117 million and has invested over $100 million in more than 600 companies, contributing to the creation of over 800 jobs. The firm operates from multiple office locations in Kentucky, including Louisville, Covington, and Lexington. Keyhorse Capital's notable milestones include its active engagement in supporting local entrepreneurs and its commitment to fostering innovation in the state.
Keyhorse Capital invests in early and growth-stage companies across a variety of sectors, including AI, healthcare, fintech, biotech, consumer, edtech, food-agtech, energy, mobility, and proptech. The firm targets high-growth startups, particularly those based in or willing to relocate to Kentucky. Investment criteria emphasize technology-enabled products and services, validated prototypes, and scalable business models that can drive economic development.
The check size range for investments spans from $25,000 to $1 million, allowing flexibility in supporting startups at different stages of their growth. Keyhorse Capital's investment strategy is designed to identify companies with strong market opportunities and innovative solutions that can contribute to job creation and economic vitality in Kentucky.
Keyhorse Capital has funded over 600 companies, with an active portfolio of 133 companies currently creating more than 800 jobs. Notable portfolio companies include:
This diverse portfolio reflects Keyhorse Capital's commitment to fostering innovation across multiple sectors in Kentucky.
Kelby Price - Managing Partner. Kelby has extensive experience in venture capital and has led numerous successful investments in technology startups.
Autumn Rice - Director of Operations. Autumn oversees the operational aspects of the firm, ensuring efficient processes and support for portfolio companies.
Eugene Yang - Fund Operations Director. Eugene manages fund operations and investor relations, bringing a strong background in finance.
Rron Thaci - Associate. Rron focuses on sourcing and evaluating new investment opportunities, leveraging his analytical skills.
Bobby Riley - Platform Manager. Bobby is responsible for managing the firm's platform initiatives and enhancing portfolio company support.
Devin Morris - Strategic Communications. Devin handles communications and marketing strategies for Keyhorse Capital.
Zimri Rodriguez - Venture Programs Coordinator. Zimri coordinates venture programs and initiatives to support entrepreneurs.
Shane Elliott - Venture Intern. Shane assists with research and analysis of potential investments.
Iuliia Zakhartsova - Venture Intern. Iuliia supports the investment team with due diligence and market research.
To pitch Keyhorse Capital, founders should use the preferred channel available on their website at keyhorse.vc. The pitch deck should include a clear overview of the business model, market analysis, financial projections, and team background. Keyhorse Capital typically responds within a few weeks, and warm introductions are encouraged to enhance the chances of securing a meeting.
Keyhorse Capital administers several programs, including the Kentucky Enterprise Fund, which focuses on pre-seed and seed investments, and the SSBCI Matching Ventures program, which matches investments from other venture capitalists. These programs are part of Kentucky's $117 million federal SSBCI award aimed at fostering economic development.
In 2023, Keyhorse Capital invested $13.7 million across 67 Kentucky companies, demonstrating its active role in supporting local entrepreneurs. The firm has funded a total of 229 companies since its inception in 2002 through the Kentucky Enterprise Fund.
Keyhorse Capital's active portfolio currently consists of 133 companies, contributing to the creation of over 800 jobs in the region. The firm continues to leverage its $117 million federal SSBCI award to enhance its investment capabilities and support for startups.
What are Keyhorse Capital's investment criteria?
Keyhorse Capital focuses on early and growth-stage companies that are technology-enabled and have validated prototypes. They seek startups with scalable business models and strong market opportunities, particularly those based in or willing to relocate to Kentucky.
How can founders apply or pitch to Keyhorse Capital?
Founders can pitch their ideas through the Keyhorse Capital website at keyhorse.vc. It is advisable to include a detailed business plan, financial projections, and information about the team in the pitch deck.
What makes Keyhorse Capital different from other venture capital firms?
Keyhorse Capital is unique due to its focus on Kentucky-based startups and its access to state resources and federal SSBCI capital. This allows them to co-invest alongside angel and VC investors, reducing risk for founders and enhancing growth opportunities.
What is the geographic scope of Keyhorse Capital's investments?
The firm primarily invests in companies located in Kentucky or those willing to relocate to the state. This geographic focus aligns with their mission to stimulate local economic growth.
What is the typical check size for investments?
Keyhorse Capital typically invests between $25,000 and $1 million in startups, providing flexibility to support companies at various stages of development.
What kind of post-investment involvement does Keyhorse Capital have?
Keyhorse Capital actively supports its portfolio companies by providing access to a network of investors, state resources, and operational support, helping them navigate growth challenges and opportunities.
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