Meridian Ventures is an early-stage venture capital firm founded in 2023 by Devon Gethers and Karlton Haney, both Harvard Business School graduates from the deferred enrollment program. Originally launched as SectionX Capital, the firm was Utah's first native Black-owned seed-stage venture fund. Meridian backs founders who have deferred MBAs from top business schools, a thesis built on the belief that this cohort is systematically overlooked despite the capabilities MBA programs develop. The firm has made more than 60 investments across two funds.
Meridian invests in pre-seed and seed-stage enterprise technology companies across the United States. The firm is sector-agnostic and has backed companies in fintech, logistics, healthcare, and AI. Meridian focuses on early-stage B2B software companies and applies value-add strategies to help portfolio companies accelerate growth.
Meridian Ventures' second fund closed at $35 million, oversubscribed, with LPs including publicly traded banks, family offices, and Fortune 500 executives. Capital will be deployed over three years, with an average check size of $500,000 at pre-seed and $750,000 at seed.
Prior to Fund II, the firm raised a $2.5 million proof-of-concept fund that backed 45 companies, followed by a first institutional fund. Combined AUM across both funds is approximately $40 million.
Leadership
Devon Gethers, 29, grew up in poverty in Washington State, studied behavioral science and finance at the University of Utah, worked in private equity, and founded and exited a company before launching Meridian. Both Gethers and Haney met through Harvard's MBA deferred admission program in 2020. Karlton Haney, 28, grew up on a farm in Arkansas, studied industrial engineering at the University of Arkansas, worked as a financial analyst at Walmart, and then as an investment analyst at The Stephens Group in Little Rock before completing his MBA at Harvard Business School. Both graduated from HBS in 2025. Gethers was named to the Forbes 30 Under 30 2026 Venture Capital list.
Investment Strategy
Meridian's core thesis challenges the Silicon Valley view that MBAs do not make good founders. The firm targets the pre-seed and seed stages, with a focus on enterprise technology built by founders with deferred MBA backgrounds. Of the firm's early portfolio, 40% of companies are led by Black, Latino, or female founders, and 42% are located in underserved geographies.
Notable Investments
United States
