Keyhorse Capital
Venture capitalLexington · Pre-Seed–Seed · 9 people tracked
Investment thesis
Keyhorse Capital backs entrepreneurs building scalable, innovative businesses that strengthen Kentucky's economy and community. It makes pre-seed and seed stage investments across industries in companies that are building technology-enabled products, processes, or services, have an externally validated prototype, are seeking product-market fit, or are entering early growth. Ideal companies present a well-articulated market opportunity, compelling customer or market validation, and a strong founding team. The firm accepts financial risk to venture alongside founders, and collaborates with investors, subject-matter experts, and strategic partners to help founders achieve early wins and scale, prioritizing businesses based in or relocating to Kentucky.
Source: firm website, verified Aug 3, 2026.
Team · 9 people
from the firm's website & public directories
What they invest in
from 43 of 50 portfolio companiesAI & Machine Learning ×12Healthtech ×11SaaS ×11Consumer ×7Digital Health ×6Hardware ×6Biotech ×4Cleantech ×4
HQs:United States×24Australia×1Taiwan×1
Who they back
founder profiles across 18 portfolio companiesFounding team size:solo founder×112 founders×43 founders×24+ founders×1
Investments · 50 tracked
founders shown can be your intro pathBy year:2025 · 22024 · 13 dated
AboutBit builds modular, rapidly-scalable high-density infrastructure for the high performance computing market, including custom containerized data centers powered by natural gas wells.
CleantechCrypto & Web3Hardware
Stacy GriggsWade LewisDan KimballRichard TeachoutChris Porter
PartnerKelby Price· solo GP
Advanced Energy Materials develops catalysts and adsorbents for petroleum refining, including hydrodesulfurization catalysts, catalytic adsorbents for ultra-deep desulfurization, desulfurizers for low-hydrogen applications, and fuel upgrading catalysts.
CleantechEnergyNew Materials
PartnerKelby Price· solo GP
Fair Go is an online casino brand targeting Australian players, offering RealTime Gaming pokies, table games, video poker, and live dealer games.
ConsumerGaming
PartnerKelby Price· solo GP
Airtrek builds autonomous robots for aircraft ground operations, including wingwalking support during towing and inspection tasks.
AI & Machine LearningHardwareRobotics
PartnerKelby Price· solo GP
Co-investorsCintrifuse Capital
Beverage and ingredient innovation for the modern pantry.
PartnerKelby Price· solo GP
Co-investorsRender Capital
Another Nine operates private, self-service indoor golf simulator suites equipped with Trackman technology, bookable by the hour with no membership required.
ConsumerSports TechColumbia, US
PartnerKelby Price· solo GP
PartnerKelby Price· solo GP
Co-investorsAvoro Capital AdvisorsEpidarex CapitalF-Prime CapitalSofinnova VenturesSolasta VenturesvenBio Partners
Applied Industrials builds AI agents that automate manual front- and back-office work — such as quoting, order entry, invoice matching, spec lookups and customer support — for manufacturers, distributors and service providers in the industrial supply chain.
Advanced ManufacturingAI & Machine LearningLogistics & Supply Chain
PartnerKelby Price· solo GP
AquiSense develops UV-C LED water disinfection systems that treat water without chemicals, serving homes, factories, restaurants, remote communities, and space applications.
CleantechDeep TechHardwareKentucky, US
Oliver Lawal(President & CEO)inStuart Bauman(CFO/Treasurer)inJennifer Pagán(CTO)in
PartnerKelby Price· solo GP
Co-investorsBURNT ISLAND VENTURES
AuraSense builds physics-informed AI that captures and analyzes human movement — combining pose, audio, and facial sentiment — using biomechanical constraints and inverse kinematics to produce real-time insights.
AI & Machine LearningDeep TechDigital Health
Didier Charlot(Founder & CEO)
PartnerKelby Price· solo GP
AuthoFi provides an automation platform for healthcare prior authorizations, integrating with existing clinical and administrative workflows to reduce denials and revenue-cycle errors.
Digital HealthHealthtechSaaS
Wilfredo Gumaru(Chief Technology Officer)
PartnerKelby Price· solo GP
Avana Health is a women's health company developing uterine health treatments for abnormal uterine bleeding (AUB) and postpartum hemorrhage (PPH), and is preparing for its first clinical trials.
BiotechFemTechHealthtech
John Morehead(Inventor, President & Chief Technology Officer)Peter Pacult(Chief Executive Officer)Michael Royals(Chief Science Officer)Howard Settle(Chief Financial Officer)Angela Morehead(Director of Research)
PartnerKelby Price· solo GP
Bailout Systems designs and produces hands-free descent technology intended to lower people safely in high-stakes professional environments.
Deep TechHardware
Michael Ragsdale(Founder and CEO)
PartnerKelby Price· solo GP
BehaVR develops VR-based (XR) therapeutics for mental and behavioral health, translating clinical science into immersive programs that address stress, anxiety, fear, pain management, addiction recovery, and maternal health.
Digital HealthHealthtechMental HealthElizabethtown, US
Aaron Gani(Executive Officer, Director)
PartnerKelby Price· solo GP
Co-investorsChrysalis VenturesPoplar VenturesFrist Cressey Ventures
Beltways develops modular pedestrian conveyance systems (accelerators) designed to move large volumes of people quickly over short distances, competing with trains and vehicles for urban transit.
HardwareMobility & TransportationHebron, US
Matine Yuksel(Founder)
PartnerKelby Price· solo GP
Co-investorsDraper AssociatesClimate Capital
Bexion Pharmaceuticals is a clinical-stage biopharmaceutical company developing biologic cancer therapies that target dysregulated sphingolipid metabolism to counter tumor survival and treatment resistance.
BiotechHealthtech
PartnerKelby Price· solo GP
BeyondWill is a platform for independent financial advisors that turns clients' estate plan data into ranked business opportunities, surfacing held-away assets, life events, and at-risk inheritances alongside suggested outreach.
FintechLegalTechSaaS
PartnerKelby Price· solo GP
Bioglitz makes a plant-based, algae-derived glitter glue that adheres cosmetic glitter to skin while acting as a moisturizing serum.
ConsumerDirect to Consumer
Saba Gray(Founder & CEO)
PartnerKelby Price· solo GP
Biscuit Belly is a Southern-style brunch restaurant serving scratch-made biscuit sandwiches, biscuits and gravy, and related comfort food alongside a coffee and alcohol bar.
ConsumerFoodTech
Chad Coulter(Co-founder)Lauren Coulter(Co-founder)in
PartnerKelby Price· solo GP
Blue Sky Case Management provides Medicaid Waiver case management for children and adults with intellectual and developmental disabilities, coordinating programs such as Supports for Community Living, the Michelle P.
Digital HealthGovTechHealthtechKentucky, US
Joseph J. MacDonald(Co-Founder & President & CEO)Tara Clarkson(Co-Founder & Executive Director)Chris Lanham(Co-Founder, Referral Director, Billing Consultant)Brittney McConville(Co-Founder, Director of Business Information Systems)Joseph MacDonald(Co-founder)Ashlee Morgan(Co-founder)
PartnerKelby Price· solo GP
BrainSTEM offers summer STEAM camps for children in grades 3-9, teaching 3D printing, game development, artificial intelligence, coding, drones, and robotics through in-person and virtual formats in Louisville, Kentucky.
EdTechImpact & Social GoodLouisville, US
Ricky Mason(Founder)
PartnerKelby Price· solo GP
Brite Trace is a healthcare technology company offering a caregiving platform and educational courses to help family and professional caregivers coordinate dementia and Alzheimer's care, track behaviors, organize care information, and access research-backed guidance.
Digital HealthHealthtechLongevityMental HealthSaaSWellness & Fitness
Nolan Carrico(Founder & COO)Dr. Jeff Beaty(Founder & Chief Medical Officer)Hannah Rose Higdon(Chief Marketing Officer)
PartnerKelby Price· solo GP
C2 Keep provides software for controlled substance inventory management in pharmacies, helping practitioners comply with the Controlled Substance Act.
HealthtechSaaS
David GalowniaDan Murphy
PartnerKelby Price· solo GP
CleanSpace is a mobile app that connects users with background-checked local cleaners for same-day, recurring, or one-time home cleaning, with scheduling, management, and payment handled in-app.
ConsumerMarketplacesSaaS
Eric Griffin(Co-founder)Aram Street(Co-founder)
PartnerKelby Price· solo GP
Cloverleaf provides automated coaching and assessment solutions that integrate into employees' daily workflows to help organizations develop their talent and enable individuals to perform their best work.
AI & Machine LearningEnterprise SoftwareHR TechSaaS
PartnerKelby Price· solo GP
Co-investorsCintrifuse CapitalConductive VenturesConnetic VenturesJobsOhio VenturesMucker CapitalOrigin Ventures+3 more
Cognision develops an objective measurement system for evaluating patients with cognitive disorders including concussion, mTBI, and dementia, serving clinicians, pharmaceutical companies, and researchers through brain-based biomarkers and qEEG/ERP testing.
AI & Machine LearningDigital HealthMedical Devices
PartnerKelby Price· solo GP
ConnectRate offers an AI-based phone number validation and enrichment platform that verifies which numbers are active and likely to answer, aiming to improve sales teams' call connect rates.
AI & Machine LearningSaaSSales Tech
Drew Kluender(Founder & CEO)
PartnerKelby Price· solo GP
Content Credits offers publishers a pay-per-article option that lets casual readers unlock individual articles without subscribing, working alongside existing paywalls, ads, and subscriptions.
Marketing TechMedia & EntertainmentSaaS
PartnerKelby Price· solo GP
PartnerKelby Price· solo GP
DataRovers provides AI-powered denial management software for healthcare revenue cycle management teams to identify, analyze, and appeal insurance claim denials.
AI & Machine LearningHealthtechSaaS
PartnerKelby Price· solo GP
PartnerKelby Price· solo GP
Deepshot provides AI tools for video content creation, specifically focusing on lip-sync generation using generative AI technology.
AI & Machine LearningCreator EconomyMedia & EntertainmentNewport, US
Kyle Lepi(Director)
PartnerKelby Price· solo GP
DesiCorp develops advanced packaging and stabilization solutions for biopharmaceutical and therapeutic products, extending shelf-life without refrigeration to improve access in rural, remote, and emergency care settings.
BiotechHealthtechNew MaterialsLouisville, US
Brett Janis(CEO/CSO, Treasurer, and Co-founder)Jonathan Kopechek(Secretary and Co-founder)Michael Menze(President and Co-founder)Jonathan Kopecheck(Executive Officer, Director)
BoardRobert Saunders(Director)
PartnerKelby Price· solo GP
Ecoshell makes a patented eggshell-based bio-calcium additive used to produce lower-plastic resins, compounds, and film rolls (PP, HDPE, PET) for brands seeking to meet plastic-reduction mandates and sustainability goals.
Circular EconomyCleantechNew MaterialsTaiwan, TW
PartnerKelby Price· solo GP
Louisville, US
Sean O'Leary(Chief Executive Officer)John Barkeley(Secretary and VP of Finance.)
PartnerKelby Price· solo GP
Co-investorsStrike Ventures
Elixir Kombucha makes raw, living kombucha sold in cans across a range of flavors, marketed as a gut-health beverage.
ConsumerDirect to ConsumerFoodTechLouisville, US
PartnerKelby Price· solo GP
EndoProTech develops anti-inflammatory liposomes designed to modify the composition of cell plasma membranes and reduce microvascular dysfunction following ischemia/reperfusion injury.
BiotechHealthtechMedical DevicesLouisville, US
Claudio Maldonado(Founder, President and CEO)Gustavo Perez-Abadia(Founder, Vice President, and Treasurer)Federico Grossi(Founder)
PartnerKelby Price· solo GP
Enviro-Fresh manufactures sealed compartment storage systems for towels and linens in healthcare facilities and hospitality settings.
HardwareHealthtechImpact & Social Good
PartnerKelby Price· solo GP
EQL Games is a game studio, third-party content aggregator, and licensor focused on the lottery industry, developing new game products for lotteries and players.
GamingLouisville, US
Brad Cummings(Founder)Michelle Boice(Chief Operating Officer)Austin Mayberry(Chief Technology Officer)Greg Buonocore(Director)Seth Young(Director)Bradford Cummings(Executive Officer, Director)
PartnerKelby Price· solo GP
Co-investorsBullpen Capital
PartnerKelby Price· solo GP
Fair Chance Works provides workforce services connecting employers, workforce agencies, and jobseekers, and is developing ROIHire, a platform that uses workforce data, hiring incentive programs, and predictive analytics to help employers identify available incentives, estimate candidate retention, and project the ROI of each hire.
AI & Machine LearningFuture of WorkHR TechKentucky, US
PartnerKelby Price· solo GP
Feed Coyote is an all-in-one project management platform designed for freelancers and professionals to collaborate, communicate, and manage work across 130+ countries.
AI & Machine LearningB2B MarketplacesFintechFuture of WorkSaaSPaducah, US
Stevens Bonhomme(Executive Officer, Director)
PartnerKelby Price· solo GP
Feet to the Fire Writers' Workshops is a licensed expressive-writing program for senior and assisted-living communities and wellness organizations, providing materials, staff training, and support to help aging adults write and share their own life stories.
ConsumerWellness & Fitness
Angela Burton(Founder)
PartnerKelby Price· solo GP
PartnerKelby Price· solo GP
Hey Besti offers personalized period care through customizable monthly subscription boxes of menstrual products and self-care essentials, delivered ahead of the user's cycle.
Direct to ConsumerFemTechWellness & Fitness
Amanda(Founder)
PartnerKelby Price· solo GP
Kentucky Science and Technology Corporation (KSTC) is a nonprofit organization focused on advancing innovation-driven economic development, STEM education, and technology initiatives across Kentucky.
EdTechImpact & Social GoodKentucky, US
Terry Samuel(President)
PartnerKelby Price· solo GP
KY Innovation Hubs is a statewide Kentucky initiative to build regional innovation clusters across the commonwealth's 120 counties, supporting entrepreneurs and high-growth-potential startups.
GovTech
PartnerKelby Price· solo GP
The Construction Labor Market Analyzer (CLMA) is a confidential, anti-trust regulated platform that provides predictive labor market intelligence for construction projects, helping owners, prime contractors, and subcontractors assess labor supply-versus-demand risk up to five years out.
AI & Machine LearningConstruction TechData & Infrastructure
PartnerKelby Price· solo GP
Narratize is an AI-powered system of intelligence for new product development that orchestrates knowledge from PLM, ERP, and other systems of record alongside expert knowledge, delivering structured portfolio intelligence to accelerate innovation cycles for advanced manufacturers.
Advanced ManufacturingAI & Machine LearningEnterprise SoftwareCovington, US
Katie Trauth Taylor(Chief Executive Officer)Catherine O'Shea(Director)
PartnerKelby Price· solo GP
Co-investorsAstiaConnetic VenturesHow Women InvestService Provider CapitalKubera Venture Capital
Connect provides marketing analytics and ad management tools that track revenue attribution and help customers optimize ad spending through data-driven insights.
AdTechMarketing TechSaaS
PartnerKelby Price· solo GP
Portfolio news
latest coverage across their companiesCloverleaf · kshb.com · Jun 24, 2026
Deepshot · trysignalbase.com · Mar 23, 2026
Avana · trysignalbase.com · Dec 22, 2025
Narratize · kstc.org · Nov 7, 2025
Frequently asked questions
- How many investments has Keyhorse Capital made?
- Keyhorse Capital has 49 tracked investments, including 2 dated in the last 24 months.
- What stage does Keyhorse Capital invest at?
- Keyhorse Capital invests at the Pre-Seed, Seed stages.
- What sectors does Keyhorse Capital focus on?
- Keyhorse Capital focuses on Sector Agnostic.
- Where is Keyhorse Capital located?
- Keyhorse Capital is headquartered in Lexington, US.
- Who does Keyhorse Capital co-invest with?
- Keyhorse Capital most often shares deals with Cintrifuse Capital, Conductive Ventures, Mucker Capital, among 21 tracked co-investors.
From the blog
visit blog ↗Keyhorse Capital has announced multiple quarterly investment cycles in 2026, deploying $15.7M across dozens of early-stage Kentucky startups spanning healthcare, AI, consumer products, and industrial software. The firm also featured a founder interview on building data analytics for the MedSpa industry. AI summary
Images
Co-investors · 6
Poplar Ventures is a venture capital firm focused on building cloud-based software companies in middle America, typically investing after a company reaches at least $1 million in annualized recurring revenue.
Foundry invests in early-stage startups and venture funds across multiple sectors. The firm builds a portfolio-based network connecting portfolio companies with other investors and entrepreneurs.
An investment firm focused on entrepreneurs who translate cutting-edge science and technology into solutions that advance human health.
iSelect Fund is a venture investor focused on the convergence of agriculture technology and human health, backing companies that improve nutrition, food affordability and sustainability as well as data and delivery technologies for detecting and treating cardio-metabolic disease.
Almaz Capital was founded as a transatlantic bridge fund with Cisco as an anchor LP to connect Russia/CIS and CEE engineering talent with Silicon Valley capital, built around co-founder Alexander Galitsky's background as a deep-tech inventor who created multiple cross-border startups. The fund operates a focused East-to-West commercialization playbook, sourcing capital-efficient deep-tech and B2B software from CEE/CIS founders who want to compete in US/EU markets and providing structured support on US go-to-market and Western governance.
Tamarind Hill is a venture capital firm focused on early-stage B2B healthcare companies, backing teams working to lower costs and improve patient care.
Firms observed investing alongside Keyhorse Capital, from public investor directories. Shared companies are the overlap with Keyhorse Capital's recorded portfolio.
Similar investors
4DI Ventures was co-founded by repeat tech operator and ESET Southern Africa founder Justin Stanford, giving it unusually deep cybersecurity and software operating experience rather than a purely financial background, and originated from Stanford's own angel-investing experiments that directly led to both the firm's creation and the launch of the Silicon Cape Initiative. The firm explicitly describes its style as "nurture capital" with intensive, hands-on engagement, and Stanford is vocal about avoiding the "unicorn at all costs" mentality in African tech, instead emphasizing sustainable market readiness and fundamentals in a more conservative, durability-focused investment approach.
8VC is a venture capital firm investing across logistics, life sciences, healthcare, IT infrastructure, and government/defense, guided by its Smart Enterprise thesis focused on data integration and platform network effects.
AirTree Ventures runs Pathfinders, a free four-week in-person program in Sydney for young builders (high-school graduates up to age 23) to work on a real product, access the AirTree team and founders, and build a peer network.
August Capital is a venture capital firm that invests in a small number of companies, providing hands-on support to entrepreneurs building their businesses.
.jpeg){kind=logo}
B Capital is a global investment firm backing early to late-stage technology innovators across technology, healthcare, and energy & resilience sectors.