Beltone VC Partially Exits Egypt’s BirdNest With 3.5x Return

Beltone Venture Capital has completed a partial exit from Egyptian hospitality technology platform BirdNest after two years, reporting a 3.5x return on invested capital and an 80% internal rate of return. The firm retained a strategic stake in the company. Founded in 2019, BirdNest operates a marketplace for curated boutique hotels and holiday homes, with a focus on art, wellness and local experiences. The company says it grew dollar-denominated revenue by more than tenfold over the period and reached profitability despite Egypt's difficult economic climate. Beltone said it will continue backing BirdNest as it expands its property-management technology and scales its operations. The transaction offers a notable example of a venture-capital exit in Egypt's maturing startup ecosystem.

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