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Beltone Holding, founded in 2002 and headquartered in Cairo, Egypt, is a diversified financial services provider. The firm specializes in investment banking, securities brokerage, asset management, and private equity. It also offers a range of non-banking financial services, including venture capital, microfinance, and SME financing. Beltone Venture Capital, a subsidiary of Beltone Holding, focuses on investing in early-stage tech startups, particularly those based in Egypt with aspirations for regional growth.
As of 2024, Beltone Venture Capital manages a fund size of $30 million, in partnership with CI Venture Capital. The firm has been active in the startup ecosystem, making six investments in 2024 alone, with a notable presence in Egypt. Beltone's integrated financial services platform allows for a seamless transition from venture capital to private equity, providing startups with the necessary resources to scale effectively.
With a commitment to addressing the funding gap in underserved markets within the MENA region, Beltone aims to provide not just capital but also strategic support through its extensive ecosystem. The firm operates educational programs through Beltone Academy, enhancing financial knowledge and skills among entrepreneurs and investors alike.
Beltone Venture Capital primarily invests in early-stage tech and tech-enabled startups, with a strong emphasis on those located in Egypt. The firm targets sectors such as fintech, healthcare, energy, logistics, agtech, consumer products, SaaS, and biotech. Investments are made across various stages, including pre-seed, seed, seed-plus, series A, series B, and growth equity. This broad focus allows Beltone to engage with a diverse range of startups that are poised for growth.
The firm seeks to bridge the funding gap in underserved markets within the MENA region, providing not only financial backing but also strategic guidance through its integrated financial services. Beltone's investment thesis emphasizes supporting startups with regional ambitions, particularly those looking to expand beyond Egypt into other MENA and African markets. The firm values founders who demonstrate a clear vision and the potential for scalability.
Beltone's portfolio includes several notable companies that reflect its investment strategy in early-stage tech and financial services:
These companies exemplify Beltone's commitment to supporting businesses that address critical needs in the market, particularly in financial services and real estate. The firm’s integrated approach allows these portfolio companies to benefit from a wide range of financial services and strategic support, facilitating their growth and expansion.
Syed Basar Shueb - Chairman of Beltone Holding, brings extensive experience in financial services and investment management.
Dalia Khorshid - Group CEO and Managing Director, has a strong background in investment banking and corporate finance.
Mirian Khalaf - Non-Executive Board Member, contributes expertise in corporate governance and strategic oversight.
Wael Abdallah - Independent Non-Executive Board Member, offers insights from his experience in financial markets.
Marwa Abbas - Independent Non-Executive Board Member, specializes in risk management and compliance.
Mohamed Hesham - Non-Executive Board Member, has a background in investment strategies and portfolio management.
Omar Ascar - Chief Business Development Officer, focuses on growth strategies and market expansion.
Mohamed Aboulfadl - Deputy CEO & Head of Investment Bank, leads investment banking operations with a focus on client relations.
Shahir Nashed - Deputy CEO and Group CFO, oversees financial operations and strategic planning.
Khalil El Bawab - CEO Local & Regional Markets, manages regional market strategies and client engagement.
Sherry Bishara - Chief People & Corporate Sustainability Officer, focuses on organizational development and sustainability initiatives.
Basma Rady - Chief Data Scientist, leads data analytics and insights for investment decisions.
Omar Radwan - CEO - Wealth Management, oversees wealth management services and client portfolios.
Amira Abdel Rahman - Chief Risk and Internal Audit Officer, manages risk assessment and compliance frameworks.
Sally Khattab - Group Chief Compliance & AML Officer, ensures regulatory compliance across operations.
Sherif Hassan - Group Treasurer & Managing Director- DCM, manages treasury operations and capital markets.
Hassan El Sada - Chief Communications Officer, oversees corporate communications and public relations.
Shawkat Abdel Aziz El Maraghy - Chairman of Beltone Securities Brokerage, brings expertise in brokerage services.
Wafik Dawood - CEO & Managing Director – Beltone Securities Brokerage, leads brokerage operations and client services.
Khaled Darwish - CEO and Managing Director – Beltone Asset Management, oversees asset management strategies and client portfolios.
To pitch to Beltone, founders should use the email address IR@beltoneholding.com. It is recommended to include a comprehensive pitch deck that outlines the business model, market opportunity, and team background. Founders should expect a response within a few weeks, depending on the volume of inquiries. Warm introductions are preferred, but not mandatory.
Beltone Academy offers various educational programs designed to enhance financial knowledge and skills. These programs include certifications, bespoke training, and executive education aimed at entrepreneurs and investors looking to deepen their understanding of financial services.
Eligibility for these programs typically includes individuals and teams from startups, as well as professionals in the financial sector. Interested parties can apply through the Beltone Academy website for more information on available courses and training sessions.
In 2024, Beltone Venture Capital has made six investments, solidifying its position as one of Africa's most active startup investors. This activity includes four investments specifically in Egypt, showcasing the firm's commitment to supporting local startups.
In February 2026, Beltone announced the launch of a new private equity platform aimed at growth-stage companies, further expanding its investment capabilities and support for startups transitioning from venture capital.
Beltone maintains a media presence through press releases and a YouTube channel, providing updates on financial results and other relevant content to keep stakeholders informed.
What are Beltone's investment criteria?
Beltone Venture Capital primarily invests in early-stage tech and tech-enabled startups, particularly those based in Egypt. The firm focuses on sectors such as fintech, healthcare, energy, logistics, agtech, consumer products, SaaS, and biotech. They look for startups with regional ambitions and a clear path to scalability.
How can I apply or pitch to Beltone?
Founders can pitch to Beltone by visiting their website and using the contact email provided: IR@beltoneholding.com. It is advisable to include a detailed pitch deck that outlines the business model, market opportunity, and team background.
What makes Beltone different from other venture capital firms?
Beltone distinguishes itself through its integrated financial services model, which allows startups to transition smoothly from venture capital to private equity. This unique approach provides portfolio companies with access to a comprehensive suite of financial services and strategic guidance.
What is the geographic scope of Beltone's investments?
Beltone primarily focuses on startups based in Egypt, but they also consider companies with regional ambitions across the MENA and African markets. This regional focus allows them to address the specific needs of underserved markets.
What is Beltone's post-investment involvement like?
Beltone actively supports its portfolio companies through strategic guidance and access to its extensive ecosystem of financial services. This support is designed to help startups grow and scale effectively in their respective markets.
What is the size of Beltone's fund and typical check sizes?
Beltone Venture Capital manages a fund size of $30 million, with check sizes varying based on the stage of investment and specific needs of the startup. The firm is active in pre-seed, seed, series A, and growth equity stages.
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