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New GX Capital has revealed that Nedbank’s Corporate and Investment Banking arm has pledged $28 million to the firm’s Airnergize Capital Fund I, pushing total committed capital to $161 million as the fund nears its $200 million target.
Launched in April 2025, Airnergize Capital Fund I initially secured about USD 111 million in its first close, with RMB Ventures (RMBV) and New GX Capital serving as anchor backers.
The fund is purpose-built to channel capital into clean technologies and sustainable infrastructure—including energy, water, gas, and associated services—across Africa.
Already active, Airnergize has invested in Sustainable Power Solutions (SPS), a pan-African commercial and industrial solar plus storage platform based in Stellenbosch, South Africa.
SPS was formerly part of New GX’s portfolio and now operates under the Airnergize umbrella, positioning itself for further scale in South Africa and selected African markets.
New GX’s CEO Khudusela Pitje expressed gratitude for Nedbank’s backing, noting that the bank has been a partner since it acquired Mettle Solar, which later evolved into SPS.
He added that the alliance under Airnergize would enable further expansion of cleantech infrastructure across the continent.
From Nedbank’s perspective, the USD 28 million commitment reinforces its alignment with sustainable investing and continuity in its involvement with SPS.
Smanga Dlamini, Nedbank’s head of leverage and diversified finance, described the move as an extension of their long-term support toward renewable energy themes.
As the fund inches closer to its closing goal, New GX and its partners continue to court additional investors.
If fully subscribed, Airnergize Capital Fund I may become one of the more substantial clean-tech vehicles in Africa, backing projects at the intersection of environmental resilience and economic growth.
South African investment firm Crossfin, known for its focus on financial technology, has announced a new investment in DigiSquad, a payments advisory company based in Johannesburg.
Incofin Investment Management, through the Nutritious Food Financing Facility (N3F) and in partnership with the Global Alliance for Improved Nutrition (GAIN), has invested in three food companies in East Africa: Soy Afric in Kenya, and Mkuza Chicks and Rainbow Haulage in Tanzania, to boost nutrition and food security in the region.
Pan-African early-stage venture capital fund Five35 Ventures has received a major anchor investment from the Mastercard Foundation Africa Growth Fund, whose resources are managed by MEDA (Mennonite Economic Development Associates).
