Programmatic capital
Through a partner program
We invest into cohort companies through accelerators and pitch competitions across Kentucky. The program selects the company; we certify eligibility and put capital behind their judgement.
Pitch
What we fund, and how to reach it.
Two routes in, three funds for three stages, and the criteria for each published before the form rather than after it.
Paths to Capital
Direct investment
Straight to us
You apply, we run our own diligence and decide. This is the route for most companies, and the only route once you are past the earliest stage. We can lead, co-lead or follow, and we can set terms.
The funds
What each fund is for.
What shifts between them is how far along you need to be, not what we are looking at.
Programmatic
Discovery Fund
Pre-seed
- Companies in an established partner's accelerator or pitch competition
- Convertible note, single holder
- The program partner selects; Keyhorse certifies eligibility
- Not a priced or diligence-based investment
Direct
Kentucky Enterprise Fund
Pre-seed and seed
- Revenue or comparable validation
- Usually alongside angels and one or two institutions
- Can lead, co-lead or follow; can set terms
- Comfortable being an early cheque
- SAFEs, convertible notes, priced rounds, revenue share
Direct
KSBCI
Seed through Series A and beyond
- Syndicated rounds with institutional co-investors
- Can lead, co-lead or follow; can set terms
- Typically $100K+ recurring revenue or equivalent traction
- Preference for Kentucky-advantaged industries
- SAFEs, convertible notes, priced rounds
We invest across industries. Traction differs by sector, so we read conviction in context rather than against predefined metrics.
The process
What happens after you send it.
Apply
Submit the form. Every applicant hears back, either way.
Screening
Reviewed against the published criteria and fit with a specific fund.
Intro call
A conversation about the company, the round and the timing.
Data room
Financials, metrics, cap table, customers and legal.
Diligence call
A deeper session with the team, plus reference calls.
Investment committee
The committee reviews the file and votes.
Decision
Terms and documentation, or a clear no with the reason.
Pace depends on the round, the fund, and how ready your data room is — quoting an average would only be true for the companies it happened to be true for.
Get started
Programmatic capital
Find a partner program
Already in an accelerator or pitch competition? You may be in front of us already. See which programs we invest through.
Direct investment
Start an application and submit your pitch
Have your deck, metrics, cap table and round details ready. Every applicant hears back.
Start an application →