Jordan-rooted venture capital firm Propeller has announced the launch of its $50 million Fund III, dedicated to investing in startups building horizontal AI infrastructure and AI-native software across the MENA region and the United States. With a presence spanning Amman, Riyadh, Boston, and Silicon Valley, the new fund aims to create a powerful corridor for technical talent and market opportunities between the two ecosystems.
A Global Bridge for AI Innovation
Propeller’s third fund is built on a clear strategy: to connect MENA’s deep pool of technical and entrepreneurial talent with the vast market opportunities of Silicon Valley, while also linking cutting-edge U.S. AI startups with major AI infrastructure projects in the Middle East. The firm will focus exclusively on software startups, from silicon-adjacent technologies to enterprise workflow applications.
“The future of MENA tech isn’t local; it’s global,” said Zaid Farekh, Founder of Propeller. “Our strategy is to back founders who are building for cross-border growth. We strongly believe that our region will play a key role on the world stage in building the future of AI infrastructure. Propeller Ventures Fund III is designed as a bridge between exceptional builders and buyers from the MENA region and the startup, venture, and artificial intelligence ecosystems of Silicon Valley.”
Strategic Investments and Global Ambitions
Fund III has already deployed capital into five startups in 2025, all of which are based in or actively selling to the U.S. market: Codemod, Netpreme, Stealthium, Pebble, and Ciphero AI. This initial portfolio underscores the fund’s commitment to backing companies with global-first ambitions.
When evaluating founders from the MENA region, Propeller will prioritise those who demonstrate global go-to-market strategies from inception and are building businesses designed for international scale. To support this vision and expand its U.S. presence, Hani Azzam has been appointed as a Partner with the launch of the new fund.
Building on a Proven Track Record
Founded in 2017 by Zaid Farekh and Tambi Jalouqa, Propeller has backed over 30 startups through its first two funds. Its portfolio includes notable companies like Clarity (formerly Anecdote), ActivePieces, Corgea, POSRocket, and Maqsam, all of which exemplify the firm’s thesis of supporting technically ambitious founders.
The firm’s second fund was backed by prominent regional investors, including Saudi Venture Capital Company (SVC) and Jordan’s Innovative Startups and SMEs Fund (ISSF). This established track record highlights Propeller’s ability to identify and scale high-potential software companies beyond regional borders.
About Propeller
Propeller is a global venture capital firm founded in 2017. It invests in Seed to Pre-Series A stage startups that are building horizontal AI infrastructure, AI-native applications, developer tools, and core software systems. With a team experienced in launching, scaling, and exiting startups in both MENA and North America, Propeller provides its portfolio companies with an extensive network of partners, VCs, and technical talent across both regions.
Source: Wamda
