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Southeast Interactive Technology Funds
David Blivin co-founded Southeast Interactive in 1994 as one of the earliest venture funds focused exclusively on the US Southeast and Research Triangle.
Southeast Interactive Technology Funds
David Blivin and Charles Merritt founded Southeast Interactive Technology Funds in 1994 in Durham, North Carolina, anchoring the firm within the Research Triangle's dense university and corporate research environment. The ambition was to create a dedicated venture capital vehicle for the Southeast, a region rich in engineering talent from Duke, UNC-Chapel Hill, and NC State, but starved of local early-stage institutional capital. Blivin and Merritt brought operating experience to the endeavor, having previously built and sold technology companies themselves. The firm made equity investments primarily in early-stage companies across enterprise software, internet infrastructure, and digital media. Southeast Interactive was among the first institutional backers of several regional technology companies, deploying capital when few if any venture firms maintained a permanent office between Washington D.C. and Austin. Public records indicate portfolio holdings included firms focused on business-to-business software platforms, e-commerce tools, and interactive media. The fund invested alongside syndicates that occasionally included larger coastal venture firms but operated as a locally anchored, thesis-driven investor. The firm raised and managed two committed venture capital funds during its active lifecycle, with total capital commitments from limited partners that included institutional investors and regional family offices. Operations were based entirely in North Carolina's Research Triangle region. By the mid-2000s, Southeast Interactive wound down its investment activity, distributing remaining positions to limited partners. David Blivin subsequently transitioned to operating roles and board positions with portfolio companies, while Charles Merritt maintained an investment presence in the region. Southeast Interactive represents a structural archetype that became more common decades later: the regional-first venture fund. At a time when venture capital concentrated almost entirely in Silicon Valley and Boston, the firm demonstrated that research-university-adjacent ecosystems could support dedicated technology investment vehicles. The successor model — local funds raising institutional capital to back regional technology founders — now exists in Atlanta, Miami, Nashville, and Charlotte, but Southeast Interactive was an early experiment in that architecture.
General information
Firm type
Asset Manager
Year founded
1994
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Durham
Corporate office
Durham, NC, United States
Principals
Charles Merritt
Co-Founder
David Blivin
Co-Founder & Managing Director
Sector focus
Frequently asked questions
Who founded Southeast Interactive Technology Funds and what was their background?
David Blivin and Charles Merritt co-founded the firm in 1994. Blivin brought operating experience from his time as a technology entrepreneur, having co-founded and sold a communications software company. Merritt's background similarly included technology company operating roles. Both were based in North Carolina's Research Triangle and saw an opportunity to create a regionally focused venture firm that could underwrite local technology founders.
What was Southeast Interactive's investment strategy?
The firm made early-stage equity investments in technology companies headquartered in the Southeastern United States. Sectors included enterprise software, internet infrastructure, digital media, and business-to-business platforms. The fund thesis relied on proximity to research universities — Duke, UNC-Chapel Hill, NC State — and the corporate research campuses clustered around Research Triangle Park.
How many funds did Southeast Interactive raise?
The firm raised two committed venture capital funds over its lifecycle. Exact fund sizes have not been widely disclosed, though public records indicate limited partners included institutional investors and regional family offices. Southeast Interactive wound down active investment operations by the mid-2000s, with remaining portfolio positions distributed to limited partners.
Is Southeast Interactive still actively investing?
No. The firm ceased making new investments and wound down its fund management operations by the mid-2000s. David Blivin and Charles Merritt each transitioned to other roles. Blivin served on boards of portfolio companies and in operating executive roles, while Merritt remained involved with regional investment activity.
Why is Southeast Interactive historically significant in venture capital?
It was among the earliest institutional venture firms to build a fund explicitly around the thesis that the Southeastern United States — outside of Austin and Florida — could generate venture-scale technology returns. Two decades before the proliferation of regional seed funds in cities like Atlanta, Nashville, and Durham, Southeast Interactive raised two committed funds and backed over 40 companies at a time when coastal investors rarely visited the region.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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