Predominantly seeking tech and software, the fund will target Pre-Seed and Seed stage startups.
Propeller, a Jordanian venture capital firm, has launched a new fund that will target Pre-Seed and Seed stage startups in Jordan and the MENA region. While the fund can prop up startups in any sector, it will predominantly seek out technology and software startups. Propeller has set up a goal to reach a final close of $15 million by the end of 2021.
"We seek founders who are obsessed about their customers and follow their lead," said managing partner at Propeller Tambi Jalouqa. "Our experience in building products and teams gives us the strength to empower them to satisfy those customers."
Since its founding in 2017, Propeller has invested in 13 early-stage startups, including Nestrom, Arabot and POSRocket. The venture capital firm provides practical mentoring to help startups like these navigate the pitfalls of their industries.
Learn more about Propeller here.