Keyhorse Capital, in partnership with the Kentucky Cabinet for Economic Development’s statewide #KYInnovation program and as an initiative of Kentucky Science and Technology Corporation (KSTC), has announced that its current quarterly investment cycle is open through December 31st for eligible companies.
The windows for each quarterly investment cycle are:
- January 1 - March 31
- April 1 - June 30
- July 1 - September 30
- October 1 - December 31
Through the Kentucky Enterprise Fund, Keyhorse Capital and the Commonwealth of Kentucky have been investing in the future of Kentucky since 2002, leveraging over $53.7 million to support 253 Kentucky companies. Under the new KSBCI initiative, Keyhorse Capital and the Commonwealth of Kentucky have invested $17.3 million in 31 Kentucky companies. These investments have accelerated the growth of these companies and catalyzed additional follow-on investments.
These funds make early-stage venture capital investments in high-growth startups and entrepreneurs based in or interested in relocating to Kentucky. Companies must be in the process of building an innovative, technology-enabled product, process, or service; have developed a prototype, be seeking product-market fit, or entering an early growth stage of development; and present a well-articulated market opportunity with some level of customer validation and a strong founding team.
In the third investment cycle of 2024, Keyhorse Capital announced $6.6M of investments in companies that included:
- AboutBit: Hosting infrastructure and load modifying resource (LMR) solutions including “curtailable load” applications such as cryptocurrency mining & LLM model training.
- ADEM Technologies: Manufacturer of nanowire-based catalyst and adsorbent products for liquid fuels and natural gas.
- ALT Distilling: A low and non-alcoholic beverage development company.
- Aurasense Tech Corporation: Developer of an easy-to-use AI-powered neurology assistant that automates qualitative neurology exams.
- Bexion Pharmaceuticals: Targeted oncology therapy platform intended to aid in the fight against cancer.
- DesiCorp: Developer of a transfusable blood product for medical providers utilizing freeze-dried red blood cells.
- DGB Tenn (Biscuit Belly): Fast-casual breakfast restaurant franchising concept.
- Forecastr: Developer of an online tool allowing companies to forecast the cash flow of their companies.
- GoodMaps: Indoor digital mapping platform improving the accessibility, safety, and productivity of indoor spaces.
- HuMed Technologies: Developer of novel ingredients for skincare products to enable improved stability, delivery, loading, and effectiveness.
- Innovative Therapeutix (Lullafeed): Developer of technology to help parents and feeding specialists support babies through feeding progression and development.
- IribaMaps: Platform that connects essential workers with employers, providing tools for job matching and workforce management based on geographic needs.
- Limitless Minds: Developer of a mental fitness platform for sales professionals.
- Parasight System: Fecal egg count system intended for animals; quantitative diagnostic and management tools for veterinarians and animal industry professionals.
- PDX Biotech: Rapid test products for periodontal disease for the dog and cat veterinary market.
- Personal Medicine Plus (PreventScripts): Developer of a health management platform and remote patient monitoring for diabetes and hypertension.
- Virtual Peaker: A distributed energy resource management platform for electric utilities.
Keyhorse Capital and KSTC have partnered with KY Innovation and the Kentucky Cabinet for Economic Development to create an easy-to-navigate quarterly investment process for the state’s most promising startup companies. Together with an improved public application process and statewide communication strategy to increase access and the number of investment opportunities, Kentucky’s funds have seen a continued increase in award applications and reviews.
To learn more and apply for funding, visit: keyhorse.vc/
About Keyhorse Capital
Keyhorse Capital is a seed-stage venture capital firm focused on supporting a thriving community of entrepreneurs willing to go the distance to build and grow innovative companies. Keyhorse is focused on investing in early-stage companies based in Kentucky through a funding partnership with KYInnovation and KCED. Keyhorse Capital has provided financing to 261 companies. Their active portfolio of 143 companies has created more than 800 jobs and counting. Learn more at keyhorse.vc.
About KSTC
KSTC is a private, statewide non-profit corporation committed to advancing science, technology, and innovative economic development founded on Kentucky know-how. KSTC seeks to improve the capacity of people, companies, and organizations to build an innovation-driven economy in Kentucky. Learn more at kstc.org.
About KY Innovation
#KYInnovation is an initiative of the Kentucky Cabinet for Economic Development (KCED) that targets resources to support startups, traditional small businesses, and innovation-driven entrepreneurs across the business life-span with the aim of dramatically improving Kentucky’s entrepreneurship ecosystem and significantly increasing the number of new company startups annually. More about the Commonwealth of Kentucky’s investment and support for innovation can be found at kyinnovation.com.
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