
Keybank
Description
KeyCorp, headquartered in Cleveland, Ohio, stands as one of the largest bank-based financial services companies in the United States. As of the fourth quarter of 2023, the institution reported total assets of approximately $188.4 billion, underscoring its significant presence in the banking sector. Its core operations encompass a broad range of services, including commercial banking, consumer banking, wealth management, and investment banking through its KeyBanc Capital Markets division. KeyCorp's strategic focus is on providing comprehensive financial solutions to individuals, small businesses, and large corporations across various industries.
KeyBanc Capital Markets, KeyCorp's corporate and investment banking arm, primarily engages in M&A advisory, debt and equity capital markets, and institutional sales and trading. This division typically works with more mature companies, assisting them with complex financial transactions, raising capital through public or private offerings, and providing strategic advice. While KeyBanc Capital Markets serves clients across the technology and innovation sectors, its role is distinct from that of a traditional venture capital firm that provides early-stage equity funding. Its activities are geared towards established enterprises seeking growth capital or strategic exits, rather than initial seed or Series A investments in nascent startups.
It is important to differentiate KeyCorp's extensive banking and investment banking activities from direct venture capital investing. Unlike dedicated venture capital firms, KeyCorp does not operate a specific venture fund or division focused on making equity "first cheques" into early-stage startups. While the bank provides commercial loans and other financial services to businesses of all sizes, including those in the startup ecosystem, these are typically debt-based or fee-for-service arrangements, not equity investments that would define a venture capital check size. The company employs approximately 17,000 individuals, further highlighting its operational scale as a full-service financial institution rather than an equity investor in early-stage companies.
Consequently, based on available information, KeyCorp does not function as a traditional venture capital investor making typical equity "first cheques" into startups. Therefore, it is not possible to reliably determine or provide typical minimum and maximum check sizes for venture capital investments from this institution. Its financial engagement with startups is more likely to be through commercial lending or advisory services rather than direct equity participation.
Investor Profile
Keybank has backed more than 36 startups, with 1 new investments in the last 12 months alone. The firm has led 17 rounds, about 47% of its total and boasts 15 exits across its portfolio.
Investment Focus Highlights
- Concentrates on Debt Financing, Grant, Post Ipo Debt rounds (top funding stages).
- Majority of deals are located in United States, Canada, Mexico.
- Strong thematic focus on Financial Services, Energy, Renewable Energy.
- Led 1 rounds in the past year.
Stage Focus
- Debt Financing (50%)
- Grant (17%)
- Post Ipo Debt (14%)
- Series Unknown (6%)
- Series C (6%)
- Private Equity (3%)
- Seed (3%)
- Series A (3%)
Country Focus
- United States (92%)
- Canada (6%)
- Mexico (3%)
Industry Focus
- Financial Services
- Energy
- Renewable Energy
- Non Profit
- Information Technology
- Fintech
- Software
- Finance
- Construction
- Clean Energy
Frequently Asked Questions
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