Beltone Venture Capital is closing three deals and readying an EGP-denominated startup fund for early 2027

Beltone Holding’s Beltone Venture Capital is closing three new investments worth around USD 1 mn in the next two to three months, CEO and Managing Partner Ali Mokhtar tells EnterpriseAM. The three local targets span fintech, proptech, and consumer finance — two at pre-seed and one at a more advanced operating stage, he says.

Exits are paying for it. Beltone VC has closed five exits since it started and is redeploying proceeds into new startups — with some potentially steered toward larger direct-investment plays, Mokhtar tells us. Locally, the company is at final signing on what he calls a “big exit” from a portfolio company. Regionally, it exited Morocco’s Cathedis at a 100% IRR, and a second Moroccan holding is subject to a potential 100% acquisition that would return 3x its original investment in under 18 months, Mokhtar adds.

A fund in EGP, coming soon: Beltone VC plans to launch a new fund dedicated to backing startups in local currency and expects it to go live by 1Q 2027 at the latest, Mokhtar says. The fund was previously announced at EGP 250 mn, but the actual figure may exceed that target as new investors look to commit capital to it, he adds.

Beltone hasn’t fully exited delivery firm Bosta, Mokhtar tells us, adding that the previously reported exit covered other investors’ stakes, while Beltone has kept a direct holding of around 5%.

What’s next: Beltone is weighing sector-specific sub-funds — an early-stage idea pairing Beltone Asset Management with Beltone VC to build, manage, and co-invest alongside others, Mokhtar says. “The firm’s focus through 2027 stays on Egypt,” he adds.

REMEMBER- Over the past year, Beltone VC expanded across Egypt and Morocco — backing Moroccan D2C eyewear startup LNKO, joining a USD 1.1 mn seed round for Egyptian health-ins.-admin startup Sehatech, and a USD 15.7 mn seed round for Egyptian used-car platform Sylndr. Beltone partially exited Egyptian proptech platform BirdNest last month at an 80% IRR, generating a 3.5x return. It also launched a private equity platform in February to provide growth-stage capital from pre-seed to pre-IPO, led by Mokhtar.