Prime Highlights:
- Propeller has launched its $50 million Fund III to help MENA startups expand globally, with a focus on the U.S. market.
- The fund has already invested in five companies, Codemod, Netpreme, Stealthium, Pebble, and Ciphero, supporting their international growth.
Key Facts:
- Fund III targets tech companies that are ready to scale and grow internationally.
- All five initial investments are either based in or actively selling to the U.S. market.
Background:
Propeller has launched a $50 million Fund III to help MENA startups grow globally, especially in the U.S. It has already invested in five companies, Codemod, Netpreme, Stealthium, Pebble, and Ciphero, active in or selling to the U.S. market.
Zaid Farekh, Founder of Propeller, said, “The future of MENA tech is global. Our goal is to back founders who aim for cross-border growth, linking MENA talent with Silicon Valley’s vibrant ecosystem. Fund III is our bridge to connect exceptional builders with buyers and opportunities worldwide.”
Propeller evaluates startups not just for technical potential but also for global ambitions and market strategies, leveraging its extensive network across MENA and North America. Earlier this year, Hani Azzam joined the team to expand the firm’s U.S. presence and now steps into the role of Partner with the launch of Fund III.
Over its first two funds, Propeller has supported more than 30 startups, including Clarity, ActivePieces, OpenCX, and Hounddog.ai, reflecting the firm’s commitment to fostering technically ambitious founders and globally scalable solutions. The second fund also got support from the Saudi Venture Capital Company (SVC) and Jordan’s Innovative Startups and SMEs Fund (ISSF), showing Propeller’s strong regional partnerships.
Fund III is the next step in Propeller’s mission to help MENA startups expand globally while promoting innovation and software growth across the region.
