What Propeller does

Propeller (legally Ocean Propeller Fund I) is a Boston-headquartered, Delaware-domiciled early-stage venture capital firm founded in 2022 that specializes in ocean-climate technology. The firm invests pre-seed through Series A with check sizes of $500K to $3M across three organizing themes — Ocean Industrials (shipping, offshore wind, autonomous maritime systems, energy cables), Ocean Carbon (marine carbon dioxide removal, blue carbon, ocean alkalinity), and Ocean Organics (aquaculture, marine biotech, novel food and feed) — and is currently investing out of a $117-118M Fund I. Its competitive positioning rests on a deep scientific network anchored by a founding partnership with Woods Hole Oceanographic Institution and four additional university alliances (Oregon State, University of Hawai'i at Mānoa, UC San Diego Scripps, University of Rhode Island), giving the firm differentiated technical due-diligence and founder-sourcing capability relative to generalist climate funds. The leadership bench combines venture operators (Brian Halligan, HubSpot co-founder and former CEO; Devdutt Yellurkar, CRV General Partner and 2020 Midas List honoree; Steven Fox and Rodrigo Prudencio as Managing Partners) with a domain Chief Scientist (Dr. Julie Pullen, oceanographer).

Beyond Fund I, Propeller has expanded its platform with the Ocean MBA program (a 3-day mini-MBA for ocean entrepreneurs that has trained over 60 founders) and, in 2025, Kernel Camp (an 8-week AI infrastructure residency in Silicon Valley for MENA founders) alongside a new $50M Fund III focused on AI startups and infrastructure projects in the US and MENA regions — signaling a deliberate expansion of the firm's investment thesis beyond ocean-climate. Revenue is generated through conventional VC economics: management fees on committed capital (approximately 2% annually) and future carried interest on portfolio realizations. The firm does not license proprietary technology, sell software, or operate an API; its product is the fund itself plus the founder-development programs that support deal origination and portfolio value creation.

Name

Propeller

Legal name

Ocean Propeller Fund I

Website

https://propellervc.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

Propeller is a Boston-based climate-tech venture capital firm (founded 2022) that invests pre-seed to Series A ($500K-$3M checks) in ocean-climate companies across Industrials, Carbon, and Organics themes, and recently expanded into AI via a $50M Fund III.

Ownership category

akta.pro rank

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Fund Management & Carried Interest: As a venture capital firm, Propeller generates returns through equity ownership in portfolio companies. Returns are realized through portfolio company exits via acquisitions or IPOs. The firm collects management fees on deployed capital and earns carried interest on investment profits.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Propeller is a venture capital firm that invests early-stage capital in ocean-climate technology startups through its $117-118M Fund I, deploying checks of $500K-$3M at pre-seed through Series A across Ocean Industrials, Ocean Carbon, and Ocean Organics themes. In addition to equity capital, the firm operates the Ocean MBA, a 3-day intensive educational program for ocean entrepreneurs, and provides portfolio support leveraging partnerships with leading ocean research institutions.

Product overview

Propeller is a venture capital firm (not a technology product company) that operates Fund I, a $117-118M climate-tech fund investing in ocean-climate solutions. The firm provides investment capital and support to early-stage companies (pre-seed to Series A) across three core investment themes: Ocean Carbon (carbon dioxide removal and blue carbon), Ocean Organics (marine organics and biotechnology), and Ocean Industrials (maritime decarbonization and offshore energy). Additionally, Propeller offers the Ocean MBA program, a 3-day educational bootcamp for ocean entrepreneurs to accelerate their ventures.

Differentiator

Problem solved

Functional benefit

Brands

• Ocean MBA: A three-day intensive mini MBA program for ocean entrepreneurs designed to help founders level-up their skills and strategies in entrepreneurship, fundraising, business development, and climate communications
• Kernel Camp

Products and services

• Propeller Fund I A $117-118M early-stage venture capital fund deploying $500K-$3M equity checks into pre-seed through Series A startups building ocean-climate solutions across Ocean Industrials, Ocean Carbon, and Ocean Organics themes. Available to founders pitching at propellervc.com/pitch.
• Ocean MBA Program A 3-day intensive mini-MBA program for ocean entrepreneurs providing training in entrepreneurship, fundraising, business development, market creation, and product-market fit, designed and taught by founders. Run in partnership with MIT Martin Trust Center and WHOI. Available to ocean entrepreneurs.

Named customers6 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and minor.

• Woods Hole Oceanographic Institution (WHOI)coreStrategic or Co-development PartnerFounding partner and key academic collaborator. WHOI provides scientific credibility, technical due diligence capabilities, and access to ocean research talent and facilities. WHOI co-sponsors the Ocean MBA program with Propeller.
• Oregon State UniversitycoreStrategic or Co-development PartnerAcademic partnership providing access to ocean science research expertise, graduate talent pipeline, and potential co-development opportunities for ocean technology solutions.
• University of Hawai'i at MānoacoreStrategic or Co-development PartnerAcademic partner contributing ocean science research capabilities and access to Pacific ocean technology ecosystem. Provides scientific expertise and talent for portfolio companies.
• University of California San DiegocoreStrategic or Co-development PartnerAcademic partnership providing access to blue economy research initiatives and engineering talent. Supports Propeller's investment thesis through scientific collaboration.
• University of Rhode IslandcoreStrategic or Co-development PartnerAcademic partner contributing oceanography and marine science expertise. Strengthens Propeller's network of ocean research institutions on the East Coast.
• ØrstedminorGTM or Marketing PartnerOffshore wind energy company that partnered with Propeller for hackathon events. Collaboration engages the developer ecosystem around ocean-climate innovation and offshore wind opportunities.
• MIT Martin Trust Center for EntrepreneurshipcoreGTM or Marketing PartnerCo-develops and sponsors the Ocean MBA program, an educational initiative to develop ocean-climate entrepreneurship skills. Provides startup ecosystem support and legitimacy.
• Goodwin Proctor LLPminorImplementation/ SI/ Consulting PartnerLegal services partner providing support for portfolio company formation, financing rounds, and corporate governance matters.
• HubSpotminorOthersMarketing and sales software platform utilized by Propeller for marketing automation, CRM, and operational tools.

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Lowercarbon Capital: Lowercarbon Capital is a climate-focused venture firm investing across carbon removal, energy, and climate-adjacent categories. Highly comparable to Propeller as a specialist climate VC backing early-stage companies with similar check sizes and a thematic, mission-driven thesis.
• Congruent Ventures: Congruent Ventures is a seed-to-Series A climate-tech and sustainability VC with a similar stage focus and check-size range to Propeller. Directly comparable as a specialist early-stage climate fund serving founders in decarbonization and climate-adaptation categories.
• Prelude Ventures: Prelude Ventures is an early-stage climate-tech fund focused on seed and Series A investments in decarbonization. Closely comparable to Propeller in stage, check size, and the early-stage, founder-supportive orientation of its investments.
• Clean Energy Ventures: Clean Energy Ventures is a seed-stage climate-tech fund backing founders across energy, mobility, and climate solutions. Directly comparable in stage focus and check-size discipline, with a similar mission-driven climate mandate.
• At One Ventures: At One Ventures invests in early-stage companies addressing climate, nature, and sustainability through deep tech. Comparable to Propeller as a thesis-driven, science-anchored climate fund backing frontier technologies at seed stage.
• Circulate Capital: Circulate Capital invests in companies addressing ocean plastic pollution and the circular economy across South and Southeast Asia. Closely comparable to Propeller as an ocean/marine-focused VC with thematic specialization, though regionally distinct in deployment geography.
• S2G Ventures: S2G Ventures is a multi-stage climate and food system investor backing companies across oceans, agriculture, and energy. Comparable to Propeller as a thematic climate VC with a distinct ocean-and-nature orientation and similar investment-stage profile.
• DCVC: DCVC (Data Collective) is a deep-tech venture firm with substantial climate, ocean, and applied-science exposure. Comparable to Propeller as a science-anchored, early-stage investor backing technically ambitious founders in ocean industrials and climate categories.

Broad incumbents

• Breakthrough Energy Ventures: Founded by Bill Gates, Breakthrough Energy Ventures is a multi-billion-dollar climate-tech fund investing across the full climate stack. Comparable to Propeller as a thematic climate investor, but at vastly greater scale and broader thematic scope; serves as a benchmark for ocean-climate capital flows.
• Khosla Ventures: Khosla Ventures is a large generalist VC with a significant climate-tech and ocean-tech allocation across early stages. Comparable to Propeller as a major climate investor, but with broader sector coverage and much larger fund scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/propellerocean
• LinkedInlinkedin.com/company/propellerocean

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments12 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Propeller