Avanz Capital Egypt exits Bosta at 92% IRR, 4.1x return
What's the deal? Avanz Capital EgyptDealroom has a profile for this one. Try Dealroom → (ACE) has sold its ManaraDealroom has a profile for this one. Try Dealroom → fund's stake in BostaDealroom has a profile for this one. Try Dealroom →, an Egyptian logistics and delivery technology company. The exit returned 4.1 times invested capital and generated a 92% internal rate of return over roughly two years.
Why now? The sale is an early realisation, landing less than a year after the end of Manara's investment period in June 2025. ACE says returning capital and liquidity this early in a fund's life reflects the discipline of its approach.
The currency angle: ACE entered the investment in Egyptian pounds and realised it in US dollars, converting the position into hard currency for Manara's investors. In a market marked by currency pressure, that shift matters as much as the multiple.
What's the endgame? ACE, one of Egypt's leading private capital fund managers, backed Bosta at what it called a decisive stage in the company's development. The firm says it contributed strategic input, opened its network, and engaged selectively on key decisions while leaving management room to execute.
What they said: "Achieving a 92% IRR with a USD exit is an exceptional outcome, particularly this early in the life of the fund," said Haytham Wagih, managing director of ACE. Bosta founder and chief executive officer Mohamed Ezzat said ACE "provided not only confidence but also meaningful strategic direction."
The signal: A dollar-denominated exit at a strong multiple is a rare marker for Egypt's venture and private capital scene, where hard-currency returns remain scarce. It offers a template for local funds looking to prove liquidity to their investors.
Read more: fintechgate.net
Image credit: Generated with Gemini
