Beltone Venture Capital partially exits BirdNest with 3.5x return

Beltone Venture Capital, the venture capital arm of Beltone Holding, has completed a partial exit from its investment in BirdNest, according to a press release.

The transaction generated a 3.5x return on invested capital and an internal rate of return (IRR) of 80% over a two-year holding period.

The partial exit was carried out across Beltone Venture Capital’s direct stake in BirdNest as well as its indirect holding through its joint investment fund with UAE-based Citadel International Holdings.

Meanwhile, Beltone Venture Capital continues to hold a shareholding in the company, boosting its confidence in BirdNest's long-term growth prospects.

Ali Mokhtar, CEO and Managing Partner of Beltone Venture Capital, commented: "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."

For his part, Mostafa Elnahawy, Co-Founder and CEO of BirdNest, added: “Over the past two years, we have achieved more than 10x growth in US dollar revenue while reaching profitability. As we enter our next phase, we remain focused on creating sustainable long-term value and redefining hospitality through technology and exceptional guest experiences.”

In line with its growth plans in Saudi Arabia, Beltone Venture Capital increased its investment in Egyptian consumer brands ariika and Lychee in June.