Meridian Ventures emerged from the shared background of deferred MBAs. Founders Devon Gethers and Karlton Haney have now secured a $35 million fund to support pre-seed and seed-stage ventures started by individuals with similar experiences.
Gethers, 29, recounted to TechCrunch that the firm’s concept was inspired by his encounter with Haney in Harvard’s MBA deferred admission program in 2020.
Gethers, originating from a low-income background in Washington State, studied behavioral science and finance at the University of Utah, then transitioned to private equity before establishing and exiting his own company. Haney was raised on a farm in Arkansas, involved in raising chickens and birds. Gethers shared that about his partner.
Haney, 28, pursued industrial engineering at the University of Arkansas and worked as an investor at the family office, The Stephens Group. In 2023, the duo aimed to create a firm supporting individuals who had similarly deferred MBAs.
“Our thesis is slightly unconventional, challenging the Silicon Valley stereotype that MBAs don’t make good founders,” Gethers remarked, addressing the belief that MBAs suit corporate environments rather than the dynamic sphere of Silicon Valley.
To validate their concept, Gethers and Haney embarked on cold-calling prospective limited partners, successfully raising $2.5 million for a proof-of-concept fund supporting 45 companies.
The pair joined Harvard Business School in summer 2023, and about a year later, sought to establish their first institutional fund. Despite challenging financial conditions, they managed to secure an oversubscribed $35 million fund from LPs, including public banks, family offices, and Fortune 500 executives, Gethers noted. They graduated from Harvard Business School in 2025.
This fund aims to support founders in the U.S. building enterprise technology. Meridian is open to varied fields, Gethers mentioned, having already invested in fintech, logistics, healthcare, and AI sectors. The average investment will be $500,000 for pre-seed and $750,000 for seed, with plans to allocate the capital over the next three years.
“We identified a widening gap between visionary founders creating breakthrough technologies and the capital necessary to propel those visions,” Gethers expressed. “The $35 million fund aims to close that gap.”