New GX Capital and RMB Ventures have launched Airnergize Capital Fund I, a R2.4 billion ($120 million) investment vehicle targeting clean tech projects in renewable energy, gas, and water infrastructure across Southern Africa, Tech Financials reported.
Managed by New GX, Airnergize Capital supports scalable ventures that advance South Africa’s transition to a low-carbon economy. The fund aims to reach a final close of R4 billion ($200 million) to further accelerate sustainable energy solutions across the continent.
In response to persistent load-shedding and water scarcity, Airnergize is investing in technologies with tangible impact. Priorities include expanding solar and battery storage solutions, as well as developing clean gas infrastructure to enhance regional energy security.
The fund also focuses on improving water access through innovative systems and promoting black economic empowerment within the clean tech sector. Aligned with global sustainability goals, Airnergize aims to position South Africa as a leader in climate-resilient infrastructure.
‘Our journey into the utility industry began six years ago, and we remain committed to driving sustainable change across Africa’, said Khudusela Pitje, founder and CEO of New GX Capital.
‘Combining our private equity expertise with New GX’s renewable energy track record will be instrumental to Airnergize’s success’, added Eutychus Mbuthia of RMB Ventures.
As a black-owned and -controlled fund, Airnergize pairs strategic capital with a strong focus on measurable ESG outcomes. Its first investment is already underway through Sustainable Power Solutions Africa, a leading developer of solar photovoltaic and battery storage solutions for the commercial and industrial sector.
New GX Capital is a South African investment firm founded in 2005. It invests in sectors like telecoms, clean energy, and IT, with notable holdings including Dark Fibre Africa and Sustainable Power Solutions.
RMB Ventures, the private equity arm of Rand Merchant Bank (part of the FirstRand Group), specialises in long-term investments in high-growth companies across South Africa and the broader African continent. It is known for partnering closely with management teams to deliver strategic value and growth.
