MEDIA RELEASE

10 April 2025

New GX Capital and RMB Ventures  launch Airnergize Capital Fund

New GX Capital, co-founder of Dark Fibre Africa (DFA), and RMB Ventures have launched Airnergize Capital Fund I, with a R2.4 billion commitment to drive sustainable and advanced clean technology investments across Southern and broader Africa.

Airnergize Capital is a new fund dedicated to advancing clean technologies across renewable energy, gas, and water infrastructure in South Africa. The fund has secured an initial commitment of R2.4 billion and aims to reach a final close of R4 billion by attracting additional investors in the coming months.

The fund will invest in both capital-heavy and asset-light business models by seeking and partnering with well-established management teams in established businesses with demonstrated track records. Airnergize Capital will have a strong focus on scalable and impactful technologies and aims to support companies at the forefront of energy transition, water, and gas solution innovation. The fund is black-owned and controlled, driving active and strategic fund management while delivering measurable environmental and social impact.

The fund is already operational, thanks to the vending in of Sustainable Power Solutions Africa (SPS), a portfolio company of New GX. SPS is a leading 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.

“Our journey into the utility industry started 6 years ago, and we are committed to investing in solutions that will drive sustainable change across Africa,” said Khudusela Pitje, 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.”

“RMB Ventures is a like-minded and long-term focused investor that shares our vision to build a leading clean tech platform under the New GX umbrella, unlocking a sustainable tomorrow in RSA and across the continent,” said Tebatso Modiba, Deal Executive at Airnergize Capital.

"We are excited to launch Airnergize Capital and to continue our long-term partnership with New GX," said Eutychus Mbuthia at RMB Ventures.

"This fund represents a significant step forward in our commitment to sustainable investments and will play a crucial role in addressing South Africa's energy and water challenges. Combining our private equity skills as a core investor in the fund and RMB’s track record in this sector with New GX's deep understanding and proven track record in the infrastructure and renewable energy sector will be instrumental in driving the success of Airnergize Capital. The fund's investments will support the growth of sustainable infrastructure and contribute to the economic development of South Africa.”

About New GX Capital New GX Capital is a leading investment firm focused on infrastructure, clean technology, and digital transformation. Through strategic investments, New GX Capital aims to drive sustainable growth and positive social impact across Africa.

About Airnergize Capital Airnergize Capital is a clean tech-focused investment platform dedicated to funding innovative solutions in energy, water, and sustainable molecules. The fund seeks to bridge capital and innovation to drive the continent’s sustainability agenda.

About RMB Ventures: RMB Ventures is a leading South African private equity investor and subsidiary of FirstRand Limited. RMB Ventures has invested in over 50 transactions since the mid-1990s and manages a significant portfolio, predominantly in established South African businesses with demonstrated track records. Central to RMB Venture’s investment philosophy is partnering with strong, aligned management teams, providing support to help enable the achievement of full potential, thereby matching its fortunes with those of management.