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- Jordan’s Innovative Start-ups and Small and Medium Enterprises Fund (ISSF) has increased its commitment to Propeller’s second fund, increasing it from an initial $3.5 million to $5 million.
- Founded in 2017 by Tambi Jalouqa and Zaid Farekh, Propeller Ventures II (PVII) is a pre-seed and seed-stage venture capital (VC) firm headquartered in Jordan, focused on SaaS, enterprise software, and cloud infrastructure. We specialize in ISSF acts as an anchor limited partner (LP).
- The World Bank and the Central Bank of Jordan jointly established ISSF in 2017 with the aim of supporting Jordanian start-ups through direct investments and venture capital funds.
press release:
The Innovative Startups and SMEs Fund (ISSF) has announced an increased commitment to Propeller’s second fund, Propeller Ventures II (PVII). Propeller Ventures II (PVII) is a Jordanian venture capital fund focused on SaaS, enterprise software, and cloud infrastructure. As an anchor limited partner (LP), ISSF has increased its investment from an initial $3.5 million to $5 million.
Propeller has proven to be a pioneer in the technology investment space, investing in promising startups with a focus on innovation and scalability. Through his PVII, Propeller has invested in several Jordanian companies, a testament to their dedication to promoting local entrepreneurship and economic growth.
Mohammed Al Muftaseb, CEO of ISSF, commented on the strengthening of this initiative: “This builds on Propeller’s past successes and the active role that Propeller is taking by investing in the Jordanian ecosystem. It’s a testament to their commitment, and it’s clear through their choices.” We are proud of this partnership and excited to further strengthen our commitment to this great team.
Tanvi Jarouka, Managing Partner of Propeller, commented: The ISSF team is our core investor and biggest supporter. We believe that together we can be a catalyst for Jordan’s technology scene for years to come. ”
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