Nepherites I founded the Twenty-ninth Dynasty of ancient Egypt (according to an account preserved in a papyrus in the Brooklyn Museum) by defeating Amyrtaeus in open battle, and later putting him to death at Memphis. Nepherites made his capital at Mendes. This brief dynasty is often considered part of the Late Period.

On Nepherites' death, two rival factions fought for the throne: one behind his son Muthis, and the other supporting an usurper Psammuthes; although Psammuthes was successful, he only managed to reign for a year.

Psammuthes was overthrown by Hakor, who claimed to be the grandson of Nepherites I. He successfully resisted Persian attempts to reconquer Egypt, drawing support from Athens (until the Peace of Antalcidas in 386 BC), and from the rebel king of Cyprus, Evagoras. Although his son Nepherites II became king on his death, the younger Nepherites was unable to keep hold on his inheritance.

Nepherites I was the first ruler of the Twenty-ninth Dynasty. Nepherites I sent a gift to the Spartans after an allegiance had been entered into with Sparta against Persia. This gift was lost to the Persians after the ships from Egypt approached Rhodes. The Egyptians did not know that the Rhodians had defected to the Persians.

There is some discrepancy as to whether Hakoris was the second of the third king of the Twenty-ninth Dynasty. Psammuthis is the king in which the confusion is associated with because he is shown to have ruled during the same year as Hakoris (393 BC). Hakoris reigned for thirteen years and built many monuments which are found in all parts of Egypt. During his reign there was peace between Persia and Sparta. Persia was free to move against Egypt and there was a three-year war between the two. Egypt was relatively strong during this time and became allies with Cyprus. Egypt was delivered from Persia. The tomb of Hakoris has not been found.

Nepherites II was the fourth and final ruler of the Twenty-ninth Dynasty. He reigned for only four months before he was overthrown by the founder of the Thirtieth Dynasty. He assumed the throne after the death of Hakoris, who was Nepherites' father. The name Nepherites has an etymological meaning of "His great ones are prosperous".