Venture Capital Firm Meridian Ventures Announces $35M Fund Targeting MBA-Deferred Founders

Meridian Ventures: A New Venture Capital Firm Supporting Deferred MBA Founders

Meridian Ventures, a venture capital firm founded by Devon Gethers and Karlton Haney, emerged from a common experience: deferred MBAs. The duo has successfully raised a $35 million fund aimed at supporting pre-seed and seed-stage companies founded by individuals who, like them, have deferred their MBA admissions.

The idea for Meridian Ventures took root when Gethers and Haney crossed paths in Harvard’s MBA deferred admission program in 2020. Gethers, 29, hailing from a background of poverty in Washington State, pursued studies in behavioral science and finance at the University of Utah before delving into private equity and eventually launching his own company. Haney, 28, with a farm upbringing in Arkansas, studied industrial engineering at the University of Arkansas and gained experience as an investor at the Stephens Group.

Against the prevailing belief in Silicon Valley that MBAs are ill-suited for entrepreneurship, Gethers and Haney set out to challenge this notion by establishing a firm that supports MBA holders, especially those who have deferred their admissions. Their efforts led to securing a proof-of-concept fund of $2.5 million to back 45 companies, paving the way for the eventual establishment of their oversubscribed $35 million institutional fund.

Meridian Ventures aims to support founders in the United States focusing on enterprise technology, with investments spanning fintech, logistics, healthcare, and AI. The average investment size ranges from $500,000 for pre-seed to $750,000 for seed-stage companies, with plans to deploy the capital over the next three years.

Gethers emphasized the firm’s commitment to bridging the gap between ambitious founders and the necessary capital to propel their innovative ventures forward. The diverse investor base of Meridian Ventures includes publicly traded banks, family offices, and Fortune 500 executives.

In line with their mission, Meridian Ventures also supports founders who have not deferred their MBA admissions, showcasing the firm’s inclusive approach to backing entrepreneurial talent. The $35 million fund represents a significant step towards realizing the firm’s goal of fostering innovation and growth in the tech ecosystem.

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