Airnergize Capital, the clean technology investment platform of New GX Capital, has officially announced the final close of its Fund I at R3.89 billion, marking a major milestone for climate and infrastructure financing across Africa.
The Development Bank of Southern Africa (DBSA) has committed R240 million as the lead development finance institution (DFI), following a comprehensive institutional due diligence process evaluating the platform’s governance, risk management, and investment protocols
As a black-owned and controlled platform, Airnergize Capital balances commercial financial returns with measurable environmental and social outcomes.
The Fund I investor group brings together top-tier private capital alongside state development finance:
New GX Capital
RMB Ventures
Standard Bank
Nedbank
Development Bank of Southern Africa (DBSA)
By assembling South Africa’s major commercial balance sheets into a single vehicle, the fund demonstrates a successful blended finance model aimed at scaling green infrastructure projects across the region.
“DBSA’s mandate is to mobilise capital toward infrastructure that supports inclusive growth, and a platform like Airnergize does that at scale rather than one transaction at a time,” said Mahlatsi Molokomme, Principal Investment Officer at the DBSA. “Backing a fund alongside commercial investors allows us to crowd in private capital rather than compete with it, which is exactly the kind of blended approach South Africa needs if it is going to close its infrastructure investment gap.”
Initial Capital Deployment and Asset Pipeline
The initial deployment phase focuses on commercial and industrial solar and battery energy storage assets operating in South Africa, sub-Saharan Africa, and the Indian Ocean islands.
Looking ahead, the platform maintains a strategic expansion pipeline covering:
Power Generation: Renewable infrastructure and sustainable power systems.
Transmission Infrastructure: Grid connection and network distribution projects.
Water & Gas Utilities: Sustainable water management, sanitation, and clean gas infrastructure.
Driving Continental Energy Security
Airnergize Capital operates under New GX Capital’s broader investment ecosystem, sitting alongside AiZAR Capital (digital infrastructure platform) and Airnergize Ventures (early-stage clean tech and digital venture arm).
“Getting to R3.89 billion, with this calibre of investor around the table, tells you the market believes in what we are building,” said Khudusela Pitje, Group Chief Executive of New GX Capital. “Each investor, including the DBSA, has added something different: balance sheet strength, sector expertise, a development mandate. We have built a platform that can turn this capital into operating infrastructure that moves the needle across energy, water and gas, and that contributes to energy security in South Africa and the region.”
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