Forbes Center East has revealed its annual listing of the Prime Enterprise Capitalists for 2024, recognizing influential leaders who’ve been key gamers in driving innovation and development throughout the MENA area’s dynamic startup ecosystem.
Among the many 30 honorees, 4 Egyptians have been celebrated for his or her contributions, highlighting the nation’s rising affect in enterprise capital.
Saudi Arabia leads the rankings with 11 entries, adopted by the United Arab Emirates (UAE) with 10. Two enterprise capital companies are twin headquartered in Saudi Arabia and the UAE.
Egypt follows with 4 entries, whereas Jordan and Kuwait have two and one agency every, respectively. This illustration underscores the essential position of those international locations’ enterprise capitalists in nurturing startups throughout key sectors reminiscent of fintech, e-commerce, and renewable vitality.
Ali Mokhtar, CEO and Managing Companion of Beltone Enterprise Capital, ranks sixth on the listing of the area’s prime leaders. Because the inception of Beltone Enterprise Capital in April 2023, as a subsidiary of Beltone Holding, Mokhtar has been pivotal in positioning the corporate as a serious participant within the enterprise capital house.
Underneath his management, the agency has established a strong portfolio of 14 startups, together with WayUp Sports activities, Bosta, Trella, ariika, VelyVelo, Cathedis, Lychee, Khazna, and BirdNest, amongst others.
In 2024, Beltone Enterprise Capital achieved exceptional development, making six main investments and increasing its portfolio to over USD 40 million (EGP 2.04 billion).
A key spotlight of the 12 months was the collaboration with CI Enterprise Capital to handle Citadel Worldwide Holdings’ USD 30 million (EGP 1.53 billion) fund, aimed toward supporting fast-growing startups throughout the area. This partnership exemplifies Mokhtar’s strategic imaginative and prescient to advertise innovation and advance the expansion of tech-enabled startups with regional ambitions.
Mokhtar’s recognition by Forbes emphasizes his impactful management in one of many area’s most lively VC (enterprise capitalist) companies.
Flat6Labs’ cofounders, Ahmed El Alfi and Hany Al-Sonbaty, ranked fourth general, making them the highest Egyptian enterprise capitalists on the listing. Flat6Labs additionally emerged as essentially the most lively investor within the MENA area in 2024, closing 37 offers.
A15’s Managing Companion, Karim Beshara, secured the 18th spot. Since its inception in 2014, A15 has been instrumental in scaling tech-enabled companies throughout MENA. In the meantime, Algebra Ventures’ management workforce, together with Karim Hussein, Laila Hassan, Tarek Assaad, and Omar Khashaba, secured the nineteenth place, solidifying the agency’s fame as a pacesetter in fostering high-growth startups.
The popularity of those leaders spotlights the transformative influence of Egyptian enterprise capitalists on the area’s startup ecosystem.
Their strategic investments and modern approaches proceed to place Egypt as a significant participant in MENA’s entrepreneurial success story.
