The Arab Energy Fund (TAEF), a multilateral financial institution focused on the energy sector, has led a $26.3 million Series A equity round in the Cairo-based Tagaddod, a platform specializing in biofuel feedstocks.

The funding will support Tagaddod’s expansion into Sustainable Aviation Fuel (SAF) and Renewable Diesel (RD).

This marks TAEF’s first direct investment in the biofuel feedstocks space and is aligned with its strategic focus on both traditional and emerging energy sectors.

Tagaddod’s existing shareholders include FMO, the Dutch entrepreneurial development bank, Verod-Kepple Africa Ventures (VKAV), a pan-African venture capital firm and A15 Ventures, a MENA-based venture capital firm.

(Writing by Brinda Darasha; editing by Seban Scaria)  

brinda.darasha@lseg.com