Propeller Launches $50M Investment Fund to Support AI Startups
Propeller, a venture capital firm focused on AI infrastructure, today announced the launch of its $50 million Fund III, marking a significant milestone in bridging MENA’s technical and entrepreneurial talent with global market opportunities in Silicon Valley. The fund aims to connect leading AI startups in the U.S. with strategic partners in the Middle East and North Africa, enabling large-scale AI infrastructure projects and fostering cross-border growth.
Founded in Jordan, Propeller now operates across Amman, Riyadh, Boston, and Silicon Valley, creating a seamless link between the MENA and U.S. entrepreneurial ecosystems. The firm’s third fund will exclusively focus on software startups building horizontal AI infrastructure and AI-native applications, spanning technologies from silicon-adjacent solutions to enterprise workflow innovations. The fund has already made five strategic investments this year, including Codemod, Netpreme, Stealthium, Pebble, and Ciphero AI, all with a strong footprint in or targeting the U.S. market.
“The future of MENA tech isn’t local; it’s global,” said Zaid Farekh, Founder of Propeller. “Our strategy is to back founders building for cross-border growth. Propeller Ventures Fund III acts as a bridge between exceptional builders in MENA and the AI ecosystems of Silicon Valley, creating opportunities for large-scale infrastructure projects and international expansion.”
Propeller prioritizes founders with global ambitions, scalable business models, and go-to-market strategies from inception. With a team experienced in launching, scaling, and exiting software startups in both MENA and North America, Propeller leverages its extensive network of community partners, venture funds, technical talent, and potential design partners to support its portfolio. Earlier this year, Hani Azzam joined Propeller to expand its U.S. presence, now stepping into the role of Partner.
Having backed more than 30 startups to date, including Clarity, ActivePieces, OpenCX, Corgea, Hounddog.ai, POSRocket, and Maqsam, Propeller’s track record demonstrates its ability to scale high-potential software companies internationally. The firm’s second fund was supported by Saudi Venture Capital Company (SVC) and Jordan’s ISSF, establishing a robust foundation for cross-border growth and AI innovation.
