Cairo-based venture capital firm A15 has announced a major milestone as it returns over ten times the capital invested (10x DPI) to limited partners from its inaugural Fund I. This significant performance, revealed as part of the firm's tenth-anniversary celebrations, places A15 in an elite global category of VC firms delivering such high returns. Although the fund’s size and exact financial details remain undisclosed, the announcement highlights the strength of A15’s investment strategy and operational model.
Strategic Exits Fuel Outstanding Returns
The returns were driven by eight successful exits from Fund I, including two standout fund returners: TPAY Mobile, acquired by Helios Investment Partners, and Connect Ads, sold to Aleph Group. A15’s most recent exit came in early 2025 with the acquisition of Link Development by Beyon Solutions, reinforcing its consistent track record of liquidity events. These exits not only validated the firm’s approach but also delivered substantial value back to its investors.
A Vision Beyond Capital
Speaking on the achievement, Karim Beshara, Founder and Managing Partner of A15, emphasized that the firm’s greatest accomplishment goes beyond financial performance. He highlighted the strong ecosystem of founders, operators, and partners that has emerged around A15 over the years. According to Beshara, the firm’s priority has always been to serve as a trusted partner to entrepreneurs, providing strategic guidance, operational insight, and unwavering support.
Operational Excellence as a Differentiator
A15 has consistently distinguished itself from traditional venture capital models through a hands-on, operationally focused approach. The firm works closely with portfolio companies during their most critical phases of growth, from leadership recruitment to refining product-market fit and enhancing governance. This level of involvement has led to faster scaling, stronger market positioning, and improved capital efficiency, setting A15 apart within the MENA startup ecosystem.
Building a Pan-Regional Portfolio
Today, A15’s portfolio spans 40 active companies operating in nearly 20 countries, reflecting the firm's wide geographical reach and sectoral diversity. Its investment footprint stretches across the MENA region, targeting ventures with scalable business models and regional or global ambitions. This diverse exposure has enabled the firm to navigate market volatility while capturing opportunities in fast-growing sectors such as fintech, e-commerce, and enterprise software.
Looking Toward the Future
With its inaugural fund fully realized and a solid reputation established, A15 appears poised for further growth and impact in the coming years. The firm’s success with Fund I reinforces its potential to attract additional capital and expand its influence across emerging markets. As A15 builds on this momentum, it remains committed to backing visionary founders and accelerating the next wave of transformative startups.
By delivering a 10x DPI from its first fund, A15 has not only delivered exceptional value to its investors but also set a new benchmark for venture capital performance in the MENA region. The firm’s founder-centric philosophy and deep operational involvement have proven to be key drivers of its success. As it enters its second decade, A15 continues to shape the regional innovation landscape, blending financial results with a mission to empower entrepreneurs.