New GX Capital, a prominent investment firm known for its early support of Dark Fibre Africa, is set to launch a significant clean-tech investment initiative with the introduction of the R2.4-billion Airnergize Capital Fund I. This fund is being established in collaboration with RMB Ventures (RMBV) and is poised to make a substantial impact on the renewable energy and infrastructure landscape across Africa.
The Airnergize Capital Fund I is being heralded as one of the largest clean-tech investment funds on the continent, focusing specifically on sectors such as renewable energy, water, and gas infrastructure. The fund has already garnered R2.4 billion in initial commitments, with plans to raise an additional R1.6 billion before its anticipated closure in the coming months. This ambitious financial target underscores the growing interest and necessity for sustainable investment solutions in Africa.
Founded by the well-respected CEO Khudusela Pitje, New GX Capital has established itself as a key player in various industries, including telecommunications, technology, and infrastructure. The Airnergize fund is notable for being black-owned and controlled, reflecting a commitment to empowering local communities and fostering inclusive economic growth.
In a joint statement released on Friday, New GX Capital and RMBV outlined the fund’s investment strategy, which will be managed by New GX. The strategy emphasizes thematic investments in renewable energy, gas, and water, aligning closely with global sustainability objectives. The fund aims to prioritize innovative solutions that not only support a low-carbon economy but also promote inclusive growth across the region.
The Airnergize Capital Fund I has already made its inaugural investment by “vending in” Sustainable Power Solutions Africa (SPS), a notable portfolio company within the New GX group. SPS is recognized as a significant player in the commercial and industrial solar photovoltaic (PV) and battery market, further reinforcing the fund’s commitment to advancing sustainable infrastructure.
Eutychus Mbuthia from RMBV highlighted the fund’s broader mission, stating, “The fund’s investments will support the growth of sustainable infrastructure and contribute to the economic development of South Africa.” This statement reflects the fund’s vision of not only generating financial returns but also fostering positive social and environmental impacts throughout the continent.
