Propeller is a venture capital firm launched in 2017 with a sharp focus on AI and emerging software technologies. Headquartered in Amman, Jordan, with additional offices in Riyadh, Boston, and Silicon Valley, the firm backs early-stage startups operating at the edge of AI infrastructure and AI-native applications. Propeller stands out for its dual-market approach—backing companies with global ambitions while building technical teams in the MENA region.
Propeller invests in startups developing core AI infrastructure, AI-native software, and developer tools. The firm’s portfolio spans MENA-based technical teams and U.S.-incorporated startups, bridging global markets with regional engineering talent.
In December 2025, Propeller announced Fund III, a $50 million vehicle focused on AI-native startups. Backed by the Saudi Venture Capital Company (SVC) and Jordan’s Innovative Startups and SMEs Fund (ISSF), Fund III reflects strong institutional support from regional champions.
The fund continues Propeller’s thesis of investing in globally ambitious startups with technical hubs in MENA. The new vehicle has already backed five companies: Codemod, Netpreme, Stealthium, Pebble, and Ciphero AI.
Fund III scales the firm’s ability to fund early AI ventures building essential tools and infrastructure, while leveraging MENA’s untapped technical capacity to support U.S. and international go-to-market strategies.
Leadership
Propeller was founded by Zaid Farekh and Tambi Jalouqa, and in 2025 added Hani Azzam as Partner. The leadership combines venture expertise with technical and operational depth, and has expanded Propeller’s reach across the U.S. and MENA ecosystems.
Investment Strategy
Propeller backs AI companies from the earliest stages, focusing on pre-seed and seed rounds. The firm targets startups building developer tools, AI infrastructure, and core AI-native platforms. Propeller typically invests in U.S.-based startups that establish technical operations in the MENA region, enabling both cost efficiency and global scalability. With boots on the ground in Jordan and Saudi Arabia, Propeller offers strategic support on team building, tech hiring, and regional scaling.
Notable Investments
Propeller’s earlier funds backed over 30 startups including:
The firm has developed a strong reputation for spotting early technical teams and helping them expand across regions.
Notable Exits
One of Propeller’s early portfolio wins was POSRocket, which was acquired by Saudi-based Foodics. The exit was a significant validation of the firm's regional-first, cross-border strategy.
Other
Founders working with Propeller can expect deep technical support, a strong understanding of cross-border team building, and real presence in the MENA tech ecosystem.
The firm is known for its hands-on work with engineering teams and for helping global startups establish tech hubs in Jordan and Saudi Arabia. Propeller is increasingly seen as a launchpad for AI startups that need operational depth in MENA and market access in the U.S.
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