Beltone VC & Citadel International Holdings Bosta at 75% IRR

Bosta, an Egyptian technology-enabled logistics platform focused on last-mile delivery, has been exited by Beltone Venture Capital and a joint fund with Citadel International Holdings, delivering a reported 75% internal rate of return. Founded in 2017, Bosta provides digital shipping, fulfilment, and courier services for e-commerce merchants operating across Egypt.

According to Beltone Venture Capital, the transaction marks its fifth exit since launching in 2023 and the second realised through its joint investment vehicle with Citadel International Holdings.

“This successful exit demonstrates the strength of our joint fund with Citadel International Holdings and the impact of aligned capital and strategy,” said Ali Mokhtar, CEO and Managing Partner of Beltone Venture Capital. “Delivering a 75% IRR reinforces our disciplined investment approach and our commitment to enabling and empowering growth across the region.”

The exit comes as investors across the region continue to focus on liquidity events and long-term value creation, particularly in sectors linked to e-commerce infrastructure.

“We see Egypt as a high-potential market for startup investment, driven by strong fundamentals and entrepreneurial talent,” said Fadi Dahlan, Founder of Citadel International. “This exit reinforces our conviction in its ability to deliver sustainable growth and strong returns.”

The logistics and delivery sector remains a key area of interest for regional investors, as demand for last-mile solutions grows alongside the expansion of e-commerce platforms across MENA.