Aaron Hill

Aaron Hill is a seasoned investment banking executive with over 35 years of experience in the communications and technology infrastructure sectors. He currently serves as Managing Director and Head of Communications & Cloud Infrastructure Banking at KeyBanc Capital Markets, where he advises CEOs and boards of directors on strategic transactions. He joined the firm through its 2014-2015 acquisition and integration of Pacific Crest Securities, a technology-focused investment bank where he began in 2013. KeyBanc Capital Markets is the investment banking arm of KeyCorp and has closed over 320 M&A deals across seven industry verticals in recent years, raising over $1.66 trillion in debt capital markets and $109.3 billion in equity capital markets.

Aaron's career began in 1985 in the M&A group at The First Boston Corporation, one of the premier investment banks of the era. He moved to Wasserstein Perella & Co. in 1989 and then to UBS in 1991, where he spent 16 years specializing in communications services company transactions. In 2007, he joined Cowen & Company as head of the Telecom practice, and after that firm's sale to Ramius LLC, he transitioned to Thomas Weisel Partners in 2010, heading the Communications Group until that firm was acquired by Stifel Financial.

In addition to his institutional investment banking career, Aaron is listed as an angel investor active at the seed stage. His deep domain expertise in unified communications, data center infrastructure, managed services, fiber networks, cable, and traditional telecom gives him a distinctive vantage point when evaluating early-stage companies in these verticals. His education at Dartmouth College and Harvard Business School, combined with decades of deal-making across multiple top-tier financial institutions, positions him as a well-connected participant in the communications and infrastructure investment landscape.

Aaron Hill's investment focus centers on the communications and cloud infrastructure ecosystem. His professional expertise spans the full lifecycle of companies in these sectors, from seed-stage investments to large-scale M&A advisory and public offerings. Key areas of interest include:

His thesis appears oriented toward companies operating at the intersection of infrastructure and connectivity, particularly those poised to benefit from secular trends in cloud adoption, 5G deployment, edge computing, and digital transformation of enterprises.

• Unified Communications: Enterprise communication platforms and next-generation voice/video/collaboration tools.
• Data Center & Cloud Infrastructure: Companies building, operating, or servicing data center facilities and cloud infrastructure.
• Fiber & Broadband Networks: Fiber-optic network builders and operators, broadband providers, and related infrastructure plays.
• Managed Services: IT and telecom managed service providers (MSPs) serving enterprise clients.
• Traditional Telecom & Cable: Legacy and next-generation telecommunications and cable companies undergoing transformation or consolidation.