Egypt's Beltone Venture Capital Records 3.5x Return in BirdNest Exit

Beltone Venture Capital has completed a partial exit from hospitality technology platform BirdNest, generating a 3.5x return on invested capital and an 80% internal rate of return after a two-year holding period.

The transaction included both Beltone Venture Capital's direct stake in the company and an indirect holding through a joint fund with UAE-based Citadel International Holdings. The firm said it will continue to retain a stake in BirdNest as the company enters its next stage of growth.

"This partial exit enables us to return capital to our investors while retaining a strategic stake in BirdNest. We remain committed to supporting the company's next phase of growth through Beltone's financial ecosystem and capabilities," Ali Mokhtar, CEO and Managing Partner of Beltone Venture Capital, said in a statement.

According to the company, BirdNest has increased its US dollar-denominated revenue by more than 10 times since Beltone's investment two years ago, while also reaching profitability. Commenting on the milestone, Mostafa Elnahawy, Co-Founder and CEO of BirdNest, said the company remains focused on delivering long-term value while continuing to develop technology-driven hospitality services and guest experiences.