Meridian Ventures has successfully closed an oversubscribed $35 million fund to champion a new generation of entrepreneurs. Co-founders Devon Gethers and Karlton Haney will direct the capital toward pre-seed and seed-stage enterprise technology startups across the United States. The firm distinguishes itself by focusing on founders with MBA backgrounds, challenging a long-held industry stereotype.
A Contrarian Investment Thesis
Meridian Ventures operates on a thesis that directly counters the Silicon Valley belief that MBAs are ill-suited for founding startups. Gethers and Haney argue that formal business education provides a strong foundation for building scalable companies. Their fund aims to prove that founders with this training possess a unique advantage in the competitive tech landscape.
The new fund will deploy capital over the next three years, with average check sizes of $500,000 for pre-seed and $750,000 for seed rounds. While the firm focuses on enterprise technology, it remains sector-agnostic, having already invested in diverse fields like fintech, logistics, and healthcare. This flexible strategy allows them to support a wide range of innovative solutions built by their target founders.
The Founders' Unconventional Paths
The firm’s managing partners, Devon Gethers and Karlton Haney, bring remarkably diverse life experiences to their roles. Gethers overcame a childhood of poverty in Washington State, eventually entering private equity after a successful entrepreneurial exit. Haney grew up on a farm in Arkansas, where he developed a strong work ethic before studying industrial engineering.
Their paths converged in 2020 within Harvard’s deferred MBA admissions program, where they discovered a shared vision. This common ground led to the creation of Meridian Ventures, a firm built on their belief in ambitious founders like themselves. They launched their venture while completing their studies, graduating from Harvard Business School in 2025.
Establishing a Track Record
Before launching their institutional fund, the duo validated their investment strategy with a $2.5 million proof-of-concept fund. Through persistent cold-calling and networking, they secured capital to back an impressive portfolio of 45 early-stage companies. This initial success laid the groundwork for their larger ambitions and demonstrated their ability to identify high-potential startups.
This early fund produced notable results, including an investment in Cast AI, a cloud optimization company now valued at over one billion dollars. Such early wins provided tangible proof that their thesis could generate significant returns for investors. It also gave them the credibility needed to attract institutional capital for their next, more substantial fund.
Securing Institutional Backing
Despite a challenging fundraising climate, Gethers and Haney successfully raised an oversubscribed $35 million for their first institutional fund. The strong interest from investors validates their unique focus on MBA-educated founders and their proven ability to source promising deals. This achievement signals a growing market confidence in their specialized approach to venture capital.
The fund attracted a diverse group of limited partners, including publicly traded banks, family offices, and Fortune 500 executives. Gethers stated their goal is to seal the expanding gap between ambitious founders and the capital required to move their ideas forward. This strong backing provides Meridian with the resources to make a significant impact on the startup ecosystem.
Meridian Ventures' $35 million fund marks a significant development in the venture capital landscape, championing founders from non-traditional and academic backgrounds. By blending their unique personal journeys with a disciplined investment thesis, Gethers and Haney are poised to reshape enterprise technology. Their success underscores a broader shift toward valuing diverse perspectives and experiences in building the next generation of great companies.