Saudi Arabia-based Khwarizmi Ventures has completed a partial exit from Egyptian logistics technology company Bosta, generating approximately a 3x net multiple on its total investment and marking the venture capital firm’s sixth portfolio exit.
The transaction adds Bosta to Khwarizmi Ventures’ growing list of realised investments, alongside Tamara, POSRocket, Fatura, Melltoo and Qawafel. The firm said it has now returned capital to Fund I investors twice in less than five years since the fund’s launch.
From Series A to Partial Exit
Khwarizmi Ventures backed Bosta across three investment rounds, beginning with the company’s Series A and later leading one of its follow-on rounds.
The investor said its decision to continue backing the company was driven by the founding team’s execution, customer-focused strategy and ambition to build a major logistics platform in the region.
Following Bosta’s expansion, Khwarizmi Ventures partially exited its position, realising approximately a 3x net multiple across its total investment. The firm remains an investor in the company following the transaction.
“We’re incredibly proud of the Bosta team and grateful to be part of their journey,” said Abdulaziz AlTurki, Managing Partner at Khwarizmi Ventures. “This achievement reflects the founders’ vision, relentless execution, and the strength of innovation emerging from the MENA startup ecosystem.”
Building Logistics Infrastructure for Regional E-Commerce
Founded in Egypt in 2017 by Mohamed Ezzat, Bosta has built a technology-driven logistics and last-mile delivery platform serving e-commerce businesses and merchants.
The company has expanded beyond its home market as it seeks to address one of the region’s persistent e-commerce challenges: providing reliable and scalable delivery infrastructure.
“Bosta was founded to solve one of the biggest challenges facing e-commerce in our region: reliable, scalable last-mile delivery,” said Ezzat. “Over the years, we’ve evolved into a platform that supports thousands of businesses and enables commerce across multiple markets.”
For Khwarizmi Ventures, the partial exit represents another liquidity event from its first fund at a time when distributions and realised returns are becoming increasingly important measures of venture fund performance.
With six portfolio exits now recorded, the transaction also highlights the growing maturity of the MENA venture ecosystem as early-stage investments begin translating into measurable returns for investors.
