Propeller launches new fund to invest in early-stage startups
Image courtesy of Propeller
Jordan-based venture capital (VC) firm Propeller, has announced the first close of its second fund which will focus on pre-Seed and Seed-stage startups in Jordan and the wider Middle East and North Africa (Mena) region. The fund is sector agnostic but will favour investments in software and technology startups. Propeller aims to reach a final close of $15 million this year.
Propeller Ventures II's limited partners include the Innovative Start-ups and SMEs Fund or ISSF, Capital Bank of Jordan, BeyondCapital, and several individual investors including startup founders and an ex-Careemer.