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Keybank

North America, Ohio, United States, Cleveland

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
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FAQ

Frequently Asked Questions

Learn who this investor regularly partners with—both firms and angels—and explore their latest activity.

Who does Keybank frequently co-invest with?

Aetna
North America, Connecticut, United States, Hartford
Co-Investments: 1
Bain Capital Ventures
North America, California, United States, San Francisco
Co-Investments: 2
Capital One Ventures
North America, California, United States, San Francisco
Co-Investments: 2
Square 1 Bank
North America, North Carolina, United States, Durham
Co-Investments: 2
Silicon Valley Bank
North America, California, United States, Santa Clara
Co-Investments: 2
Rabobank
Europe, Utrecht, The Netherlands, Utrecht
Co-Investments: 3
Nyca Partners
North America, New York, United States, New York
Co-Investments: 2
Raymond James
North America, Georgia, United States, Atlanta
Co-Investments: 2
KeyBanc Capital Markets
North America, Ohio, United States, Cleveland
Co-Investments: 2
CoBank
North America, Colorado, United States, Greenwood Village
Co-Investments: 2

Which angels does Keybank often collaborate with?

RS
North America, Colorado, United States, Denver
Shared Deals: 1

What are some of recent deals done by Keybank?

Children's Home Society of Idaho

Boise, Idaho, United States

Children's Home Society of Idaho is a non-profit organization that provides emotional and behavioral health services for children.

ChildrenHealth CareNon Profit
GrantDec 6, 2024
Amount Raised: $300,000
Northwest Housing Alternatives

Milwaukie, Oregon, United States

Northwest Housing Alternatives are a non-profit organization that provides affordable housing development & homeless intervention services.

Non ProfitNursing and Residential CareRehabilitation
GrantJul 19, 2024
Amount Raised: $300,000
Ramaco Resources

Lexington, Kentucky, United States

Ramaco Resources is a coal mining company that operates and develops metallurgical coal mines.

EnergyMining
Post Ipo DebtMay 8, 2024
Amount Raised: $200,000,000
Neighborhood Allies

Pittsburgh, Pennsylvania, United States

Neighborhood Allies is a unique community development partner.

CommunitiesNon ProfitSocial Impact
GrantFeb 15, 2024
Amount Raised: $500,000
Cinnaire

Detroit, Michigan, United States

Cinnaire is a community development financial partner that supports community and economic development initiatives.

Financial ServicesImpact InvestingNon Profit
Debt FinancingSep 12, 2023
Amount Raised: $10,000,000
Bridgeway Capital

Pittsburgh, Pennsylvania, United States

At Bridgeway Capital, we are bridging the way from entrepreneurial ideas to actual business growth and impact.

Business DevelopmentNon ProfitSocial Entrepreneurship
Debt FinancingSep 5, 2023
Amount Raised: $5,000,000
Origis Energy

Miami, Florida, United States

Origis Energy focuses on the development, construction, and operation of solar power plants and energy storage solutions.

Clean EnergyEnergyRenewable EnergySolar
Debt FinancingMar 7, 2023
Amount Raised: $750,000,000
UBIZ Venture Capital

Cleveland, Ohio, United States

UBIZ Venture Capital lends to African Americans and other disadvantaged small businesses.

Venture Capital
Debt FinancingNov 1, 2022
Amount Raised: $600,000
OvationCXM

Belvedere Tiburon, California, United States

OvationCXM provides a customer experience management platform that connects technology, partner ecosystems, and customer interactions.

Customer ServiceInformation TechnologySoftwareTechnical Support
Series CSep 13, 2022
Amount Raised: $20,000,000
Arevon

Scottsdale, Arizona, United States

Arevon Energy is a renewable energy company that focuses on developing, acquiring, and managing large-scale renewable energy projects. They

Asset ManagementClean EnergyConstructionInfrastructureRenewable Energy
Debt FinancingAug 30, 2022
Amount Raised: $400,000,000