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 40 of 50 portfolio companiesSaaS ×9AI & Machine Learning ×8Healthtech ×8Hardware ×6Biotech ×5Consumer ×5Enterprise Software ×5Cleantech ×4
HQs:United States×13Australia×1Taiwan×1
Investments · 50 tracked
founders shown can be your intro pathAboutBit provides containerized, natural gas-powered data center infrastructure for cryptocurrency mining operations.
CleantechCrypto & Web3Energy
PartnerKelby Price· solo GP
Advanced Energy Materials develops hydrodesulfurization and fuel upgrading catalysts for refinery applications, addressing desulfurization needs across different hydrogen availability scenarios.
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
Beverage and ingredient innovation for the modern pantry.
PartnerKelby Price· solo GP
Another Nine operates private indoor golf simulator suites equipped with Trackman technology, offering 350+ courses and practice ranges for flexible hourly bookings without membership requirements.
ConsumerColumbia, US
PartnerKelby Price· solo GP
PartnerKelby Price· solo GP
PartnerKelby Price· solo GP
AquiSense develops UV-C LED-based water disinfection systems for residential, commercial, and industrial applications without the use of chemicals.
CleantechHardwareIoTKentucky, US
Oliver Lawal(Director)in
PartnerKelby Price· solo GP
AuraSense builds physics-informed AI software that analyzes human movement from video in real-time, delivering biomechanical insights for gaming, sports, and clinical research applications.
AI & Machine LearningDeep TechHardware
PartnerKelby Price· solo GP
AuthoFi provides an automated platform for healthcare pre-authorization processing that integrates with existing insurance workflows to reduce administrative burden and claims denials.
Enterprise SoftwareHealthtechSaaS
PartnerKelby Price· solo GP
Avana Health develops treatments for abnormal uterine bleeding and postpartum hemorrhage, targeting unmet needs in women's health.
BiotechFemTechHealthtech
PartnerKelby Price· solo GP
Bailout Systems develops hands-free descent technology for professionals working in high-stakes environments where safe controlled descent is critical.
Hardware
Michael Ragsdale(Founder and CEO)
PartnerKelby Price· solo GP
BehaVR develops virtual reality therapeutics that address mental and behavioral health conditions including anxiety, stress, pain management, addiction recovery, and maternal health.
Digital HealthHealthtechMental HealthElizabethtown, US
Aaron Gani(Executive Officer, Director)
PartnerKelby Price· solo GP
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 & Transportation
PartnerKelby Price· solo GP
Bexion Pharmaceuticals develops BXQ-350, a biologic therapy that targets sphingolipid metabolism to enhance cancer cell death and improve the effectiveness of standard therapies in patients with advanced solid tumors, particularly metastatic colorectal cancer.
BiotechMedical Devices
PartnerKelby Price· solo GP
BeyondWill is a software platform that helps independent financial advisors identify growth opportunities in their client books by analyzing estate plans to surface held-away assets, life events, and at-risk inheritances.
Enterprise SoftwareFintechSaaS
PartnerKelby Price· solo GP
Bioglitz produces a plant-based glitter adhesive and skincare serum made from algae that holds cosmetic glitz designs while moisturizing skin.
BiotechConsumer
PartnerKelby Price· solo GP
Biscuit Belly is a casual dining restaurant that serves scratch-made biscuits baked fresh daily, along with biscuit sandwiches, brunch items, and a curated selection of coffee and alcohol.
ConsumerFoodTech<UNKNOWN>
PartnerKelby Price· solo GP
Blue Sky Case Management is a Kentucky-based Medicaid case management agency serving adults and children with intellectual and developmental disabilities.
HealthtechKentucky, US
Joseph J. MacDonald(Co-Founder & President & Chief Executive Officer)Tara Clarkson(Co-Founder, Executive Director)Chris Lanham(Co-Founder, Referral Director, Billing Consultant)Brittney McConville(Co-Founder, Director of Business Information Systems)
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
BriteTrace addresses the challenges caregivers face, including care coordination, access to caregiving information, and mental health management, offering support to individuals in caregiving roles.
Digital HealthMental HealthWellness & Fitness
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 customers with background-checked cleaners for on-demand residential cleaning services across the United States.
ConsumerMarketplaces
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<UNKNOWN>
PartnerKelby Price· solo GP
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 provides AI-powered phone number validation for sales teams to increase connect rates on outbound calling.
AI & Machine LearningSaaSSales Tech
PartnerKelby Price· solo GP
Content Credits provides a pay-per-article monetization layer for digital publishers, allowing casual readers to unlock individual articles without committing to 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 & Entertainment
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 Materials
Brett Janis(CEO/CSO, Treasurer, and Co-founder)Jonathan Kopechek(Secretary and Co-founder)Michael Menze(President and Co-founder)Robert Saunders(Director)Jonathan Kopecheck(Executive Officer, Director)
PartnerKelby Price· solo GP
Ecoshell produces eggshell-derived bio-calcium additives and resins for plastic reduction, helping brands develop sustainable plastic alternatives and meet environmental mandates.
Advanced ManufacturingCircular EconomyCleantechTaiwan, TW
PartnerKelby Price· solo GP
Louisville, US
Sean O'Leary(Chief Executive Officer)John Barkeley(Secretary and VP of Finance.)
PartnerKelby Price· solo GP
Elixir Kombucha produces raw, unpasteurized kombucha in multiple flavors sold direct-to-consumer through cans and subscription boxes.
Direct to ConsumerFoodTechWellness & Fitness
PartnerKelby Price· solo GP
Endoprotech develops anti-inflammatory liposome therapeutics that modify cell plasma membranes to address microvascular dysfunction, with a focus on reducing injury and recovery time in cardiac conditions.
BiotechDeep TechMedical Devices
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 is a game studio and lottery content provider that creates and distributes lottery games for lottery operators and players in the US and internationally.
Gaming
Greg Buonocore(Director)Seth Young(Director)Gary Russell(Director)Mark Mueller(Director)Robert Saunders(Director)Thomas Mueller(Director)
PartnerKelby Price· solo GP
PartnerKelby Price· solo GP
ROIHire is a platform that helps employers optimize hiring decisions by aggregating workforce data and connecting them to available federal and state hiring incentives while estimating candidate retention probability.
Data & InfrastructureEnterprise SoftwareHR 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.
B2B MarketplacesFintechFuture of WorkSaaSPaducah, US
Stevens Bonhomme(Executive Officer, Director)
PartnerKelby Price· solo GP
PartnerKelby Price· solo GP
PartnerKelby Price· solo GP
Heybesti offers personalized period care and perimenopause solutions through customizable monthly subscription boxes delivered alongside a free cycle and symptom tracking app, serving women seeking tailored menstrual health products and wellness essentials.
Direct to ConsumerFemTechWellness & Fitness
PartnerKelby Price· solo GP
The Kentucky Science and Technology Corporation (KSTC) is a state organization that accelerates innovation-driven economic growth and supports entrepreneurship across Kentucky.
EdTechGovTechKentucky, US
PartnerKelby Price· solo GP
PartnerKelby Price· solo GP
CLMA provides predictive labor market intelligence and risk analysis tools for construction project planners and contractors.
Construction 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
Catherine O'Shea(Director)Katie Trauth Taylor(Chief Executive Officer)
PartnerKelby Price· solo GP
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
Frequently asked questions
- 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.
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 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 Group is a venture capital firm that describes its approach as network-driven investing. It maintains offices in New York and Boulder, Colorado.
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.
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