Venture capital firm Meridian Ventures has launched a new $35 million fund to support entrepreneurs who have been accepted into MBA programs but have chosen to defer their studies. Founders Devon Gethers and Carlton Haynie met at Harvard Business School and, drawing on their own experiences, decided to invest in such young innovators. This is reported by Techcrunch.com reports.
In Silicon Valley, MBA graduates are often perceived as being too accustomed to corporate environments and less suited for startups. However, Gethers and Haynie have challenged this view, successfully investing in 45 companies through their initial $2.5 million pilot fund.
The new fund will focus on startups working in the corporate technology sector in the U.S. Meridian Ventures will target projects in various fields such as fintech, logistics, healthcare, and artificial intelligence. The fund plans to invest $500,000 in pre-seed stage startups and $750,000 in seed stage startups.
Gethers and Haynie aim to deploy these funds over the next three years. Their primary goal is to bridge the gap between ambitious entrepreneurs creating cutting-edge technologies and the capital they need.
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