Kentucky Science and Technology Corp. (KSTC) has rebranded its investment arm in conjunction with its 20-year anniversary of investing in Kentucky companies.
The seed-stage venture fund will now be known as Keyhorse Capital, according to a news release.
"Over the past 20 years, KSTC has supported more than 160 Kentucky-based startups, providing capital that helps Kentucky entrepreneurs build and grow innovative companies,” said Terry Samuel, president of KSTC, in the release. “Yet, there is still work to do to increase access to capital. We are working to provide more visibility into the investment process and shorten the founder's path to finding capital.
"As we reflect on the impact of two decades of investments, we look forward to continuing our support for Kentucky entrepreneurs with Keyhorse Capital placing bets on and providing critical support to more companies during the earliest stages of their development."
With the launch of the Keyhorse Capital brand, the firm will expand its cooperation and collaboration with accelerators, incubators, innovation partners, peer investors and pitch competitions throughout Kentucky and the U.S.
KSTC introduced KISS and SAFE note investing to the state and has a history of working with local and regional investors to evolve and improve the investment ecosystem in and around Kentucky, the release continued. It will launch three new initiatives in 2022 aimed at improving capital access to companies.
KISS (Keep It Simple Securities) and SAFE (Simple Agreement for Future Equity) are both note-alternatives for startups to get early-stage funding from investors.
"We’ve worked hard as investors to meet founders where they are and evolve with them,” said Kelby Price, managing director of Keyhorse Capital. “Financing needs to be more accessible to move faster, build more impactful businesses, provide high-skill jobs, and grow our economy. The concept of Keyhorse represents our willingness to venture with founders and their companies in hopes that they go the distance and have a successful run building and scaling their businesses in Kentucky."
Keyhorse Capital will continue to manage the Kentucky Enterprise Fund, which is supported by KY Innovation and provides preseed and seed stage investments to Kentucky-based, scalable startups. Since its launch in 2002, the Kentucky Enterprise Fund has invested more than $38 million in early-stage companies.
Here are the companies KSTC invested in last year.
“Kentucky’s innovation ecosystem continues to thrive due in part to relationships between the state and its partners like KSTC,” said Anthony Ellis, acting director of KY Innovation. “KSTC and the Kentucky Enterprise Fund have been helping build the foundation for funding startups with the highest potential to grow quickly and create jobs for decades.
"It is fitting that as KSTC marks its 20th year of seeding early-stage companies, Kentucky is breaking new ground when it comes to funding opportunities for our most promising startups. The rebranding of the organization’s VC arm further illustrates our common commitment to bold ideas, increasing access to capital and creating an environment where anything is possible for entrepreneurs with ideas that can change both the world and Kentucky’s economy."
Kentucky entrepreneurs can learn more about Keyhorse Capital and apply for investment by visiting keyhorse.vc. The first quarter investment cycle closes March 31. The second quarter investment cycle opens on April 1, ending June 30.
