Beltone Venture Capital exits BirdNest investment with 3.5x return

Egypt-based Beltone Venture Capital has successfully exited its investment in Egyptian proptech company BirdNest, achieving a 3.5x return on invested capital and an 80% internal rate of return (IRR) over a two-year period. The partial exit, which included both the firm's direct investment and its stake through a joint fund with UAE-based Citadel International Holdings, allows Beltone to return capital to its investors while maintaining a strategic interest in the company.

BirdNest, founded in 2019 by Mostafa Elnahawy, offers a technology-powered marketplace for curated boutique hotels and holiday homes, focusing on art, wellness, and local experiences. CEO and Managing Partner Ali Mokhtar of Beltone Venture Capital attributed the successful exit to the firm's disciplined investment strategy, active portfolio support, and disciplined capital realization.

BirdNest's Co-Founder and CEO, Mostafa Elnahawy, praised the milestone, highlighting the company's 10x growth in U.S. dollar revenue and its profitability over the past two years, as they enter the next phase of growth.

Brief written by urgent.news from Wamda's own syndicated text. Machine-written — may contain errors; check the original before relying on it.