Propeller
Venture capital firm founded in 2017 that invests at seed and pre-Series A in AI infrastructure, developer tools and AI-native software in MENA and the US. It announced a 50 million dollar Fund III in November 2025 and runs the Kernel Camp residency.
Industry: Venture capital | Location: Amman, Jordan | Founded: 2017
About Propeller
Propeller is a venture capital firm that invests at the seed and pre-Series A stages in startups building AI infrastructure, developer tools and core software systems, and in AI-native applications. Its website describes the firm as embedded in the Middle East and North Africa and connected to United States investor networks. Propeller names offices in Riyadh, Amman, Boston and Silicon Valley. CB Insights lists its headquarters as Amman, Jordan.
Propeller launched its first fund in 2017 to back technical founders from the Middle East, according to the firm. Zaid Farekh is founder and managing partner and Hani Azzam is a partner; both were quoted in the April 2026 announcement of the firm's residency programme. The website names no other team members.
According to Propeller, its first fund backed POSRocket, which Foodics later acquired, and ZenHR. The second fund backed ActivePieces, OpenCX, Maqsam, InvoiceQ, Clarity, Corgea and HoundDog.ai. The firm says the two funds together backed more than 30 startups. Middle East AI News reported in July 2026 that the earlier funds had backing from Saudi Venture Capital Company and Jordan's Innovative Startups and SMEs Fund.
Propeller announced Propeller Fund III of 50 million US dollars on 26 November 2025. The announcement says the fund targets AI infrastructure and AI-native applications. It lists Codemod, Netpreme, Stealthium, Pebble and Ciphero AI among the fund's early investments.
In December 2025 the firm announced Kernel Camp, an annual deep-tech residency for founders from the region. The first edition ran for eight weeks in San Francisco in April and May 2026. The programme covers housing, meals, a monthly stipend, workshops and one-to-one support. Propeller takes no equity upfront but says it may invest up to 750,000 dollars in a later qualified financing at a valuation cap of 5 million dollars. The cohort announced on 9 April 2026 comprised OORB from Tunisia, Techbible from Morocco, Firstflow from Jordan, Nexguards from Egypt and Flowbrave from Morocco.
Middle East AI News reported on 1 July 2026 that the cohort held its final showcase on 30 May and that Propeller was preparing a second edition.
Leadership
- Zaid Farekh, Founder and Managing Partner
- Hani Azzam, Partner