TLDR:
- ISSF raises investment in Propeller Ventures II from $3.5 million to $5 million to bolster the Jordanian tech sector.
- Propeller Ventures focuses on fostering local entrepreneurship and driving innovation in SaaS, enterprise software, and cloud infrastructure.
Article Summary:
The Innovative Startups and SMEs Fund (ISSF) has increased its commitment to Propeller Ventures II (PVII), a Jordanian venture capital fund specializing in SaaS, enterprise software, and cloud infrastructure. ISSF, serving as the anchor limited partner, has ramped up its investment from an initial $3.5 million to a substantial $5 million, showcasing its confidence in Propeller’s strategic vision and the region’s tech innovation potential. Propeller Ventures has been recognized for its role in supporting local entrepreneurship and contributing to the economic advancement of Jordan, making it a trailblazer in the tech investment realm.
Mohammed Al Muhtaseb, CEO of ISSF, expressed pride in the partnership with Propeller and the commitment to catalyzing Jordan’s technology scene. Tambi Jalouqa, Managing Partner of Propeller, also emphasized their shared vision with ISSF in driving the growth of the Jordanian technology sector. This increased commitment signifies a successful collaboration between both entities and their dedication to fostering tech innovation in the region.
