Propeller , a venture capital firm focused on AI infrastructure, has announced the launch of its 50 million Fund III, aimed at connecting MENA's technical and entrepreneurial talent with market opportunities in Silicon Valley, while linking U.S.-based AI startups with large-scale AI infrastructure projects in the Middle East. Headquartered in Jordan, Propeller now operates across Amman, Riyadh, Boston, and Silicon Valley, creating a bridge between the MENA and U.S. startup ecosystems.
Building on the success of its first two funds, Fund III will focus exclusively on software startups developing horizontal AI infrastructure and AI-native applications, spanning areas from silicon-adjacent technology to enterprise workflows. The fund has already made five investments in 2025-Codemod, Netpreme, Stealthium, Pebble, and Ciphero AI-all based in or actively selling to the U.S. market.
"The future of MENA tech isn't local, it's global. 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."
