With a focus on SaaS, enterprise software, and cloud infrastructure, Propeller Ventures II (PVII) is a venture capital fund based in Jordan that has received increased support from the Innovative Startups and SMEs Fund (ISSF). With an initial investment of $3,5 million, ISSF, the anchor limited partner (LP), has increased its stake to $5 million.
Investing in promising startups with an emphasis on innovation and scalability, Propeller has established itself as a pioneer in the tech investment space. As evidence of their commitment to promoting regional entrepreneurship and economic development, Propeller has made investments through PVII in several Jordanian companies.
Speaking on the increased commitment, Mohammed Al Muhtaseb, CEO of ISSF, commented, “This is a testament to the success of Propeller thus far and to the positive role they are playing by investing in the Jordanian ecosystem, which is evident whether through their selection of portfolio companies or the ongoing support and value they add to them afterward. We are proud of this partnership and pleased to increase our commitment to this remarkable team.
Tambi Jalouqa, Managing Partner of Propeller, commented: “We are delighted to continue our journey with the ISSF. The team at ISSF is our anchor investor and biggest supporter. We believe that together we can be catalysts for the Jordanian technology scene for years to come.”
