New GX Capital, RMB Ventures launch R2.4bn Airnergize Fund

New GX Capital, in partnership with RMB Ventures, has launched the groundbreaking R2.4 billion Airnergize Fund, aiming to revolutionize clean water technology in Africa. The fund, targeted at four billion rand, has already secured 2.4 billion in capital, with plans to attract additional investors in the near future. Kudu Piche, the CEO of New GX Capital, highlighted the significance of this achievement, emphasizing the long-term vision and the challenges of raising capital in volatile financial markets. The partnership with RMB Ventures, known for its investments in tech and AI health tech businesses, has been instrumental in the success of the fund. Key Points: 1. Sustainable Power Solutions (SPS) - Anchor Investors: The 2.4 billion rand raised for the Airnergize Fund includes investments from RMB Ventures and New GX Capital. The fund's first asset, Sustainable Power Solutions, focuses on commercial and industrial solar and storage infrastructure, positioned as an attractive opportunity for investors. The success of SPS as a well-run platform has paved the way for further expansion into clean tech. 2. Expansion into Clean Water Technology: Recognizing the growing demand for clean water solutions, the Airnergize Fund is strategically targeting this segment of the value chain. With a focus on recycling and on-site generation solutions, the fund aims to address the critical need for water sustainability across various industries. Additionally, the inclusion of gas as a utility asset class complements the fund's holistic approach to energy and water integration. 3. Pan-African Expansion: New GX Capital's vision extends beyond South Africa, with plans to establish a presence across the continent. The fund's first asset, SPS, already operates in Seychelles, Kenya, Namibia, Botswana, and is poised to expand into Zambia. By leveraging partnerships with pan-African players and technology-driven businesses, the fund seeks to deliver sustainable energy and water solutions continent-wide. In a statement, Kudu Piche outlined the fund's strategic direction, emphasizing the importance of regulatory clarity and viable offtake agreements in target markets. The fund's ambitious goal of reaching four billion rand reflects a commitment to scaling impact beyond borders, with a focus on advancing clean water technology in Africa. A Quote from the Interview: 'In the 20 years we've been around what we've noticed is where the regulators under pressure the incumbent can't provide services or products at the right price. It's a clear indicator for disruption.' - Kudu Piche, CEO, New GX Capital As the global landscape evolves, the Airnergize Fund stands at the forefront of sustainable innovation, poised to address the pressing challenges of water scarcity and energy efficiency in Africa. By prioritizing clean water technology and strategic partnerships, New GX Capital and RMB Ventures are driving a new era of clean energy investment across the continent.