It depends on what you mean. There is absolutely no historical basis for the biblical exodus from Egypt of Jewish people. That said, when the hill people composed their history into the story that would eventually become Genesis and Exodus, they probably drew from some vague stories about the Hyksos occupation of parts of lower Egypt. The Hyksos were almost certainly Canaanite, or one of the other peoples the hill people (who would become the Jews) displaced when they conquered Israel.