New GX Capital, co-founder of Dark Fibre Africa (DFA), and RMB Ventures (RMBV) have announced the first close of Airnergize Capital Fund I, focused on accelerating clean technology solutions in renewable energy, gas and water infrastructure across South Africa.
It has secured an initial commitment of R2,4-billion ($120-million) and is targeting a final close of R4-billion ($200-million) by attracting additional investors in the months ahead.
Airnergize Capital will be managed by New GX, with a focus on thematic investments across renewable energy, gas, and water. Its investment strategy is aligned with global sustainability goals, prioritising innovative solutions that support a low-carbon economy and promote inclusive growth.
By backing pioneering businesses, Airnergize Capital aims to generate long-term environmental and social impact.
The fund will invest in both capital-heavy and asset-light business models, partnering with experienced management teams in established businesses with proven track records. Airnergize Capital prioritises scalable and high-impact technologies, backing companies at the forefront of energy transition, water innovation, and gas solutions.
As a black-owned and controlled fund, it brings active, strategic fund management with a commitment to measurable environmental and social outcomes.
Airnergize Capital is already operational with its first investment: Sustainable Power Solutions Africa (SPS) is an integrated C&I renewable energy owner, operator, and developer, offering both behind-the-meter and front-of-the-meter solar PV and battery solutions through its asset holding company, and in-house EPC services and O&M operations.
“We are excited by the latest development at New GX that will unlock additional capital towards the drive to building SPS into a Pan Africa renewable energy giant. SPS BEE credentials with support of New GX are admirable amongst its peers” said Paul Mansour, CEO of SPS.
“Our journey into the utility industry started six years ago, and we are committed to investing in solutions that will drive sustainable change across Africa,” said Khudusela Pitje, founder and CEO of New GX Capital. “Access to clean energy, water, and gas is fundamental to economic growth and social upliftment, and through Airnergize Capital Fund I, we are taking a significant step toward building a more sustainable future.”