Beltone Venture Capital (BVC) has completed a partial exit from Egypt-based hospitality technology company BirdNest, generating a 3.5x return on invested capital and an 80% internal rate of return over a two-year holding period.
BVC continues to hold a stake in BirdNest. The transaction covered both the firm’s direct investment and its indirect stake through a joint fund with UAE-based Citadel International Holdings.
According to the announcement, the partial exit allows BVC to return capital to investors while remaining invested in BirdNest’s next phase of growth.
BirdNest has increased its US dollar-denominated revenue by more than 10x over the past two years and reached profitability, the company said. Its co-founder and CEO, Mostafa Elnahawy, said the company is now focused on building sustainable long-term value and advancing its technology-enabled hospitality offering.
The transaction offers a notable example of realized venture returns in Egypt’s startup market, while showing how investors can partially exit a position without fully leaving a growing portfolio company.
Source: Waya
