R150 Million Smart Utilities Partnership Targets Underserved South African Businesses

Major Investment in Smart Utilities Infrastructure

Investment firms ALT Capital Partners and New GX Capital have reportedly formed a strategic partnership to launch a R150-million smart utilities and infrastructure initiative, according to recent reports. The collaboration, facilitated through ALT Capital Partners’ REimagine Fund 1 and New GX Capital-funded Airnergize Ventures, focuses on early-stage disruptive utilities management businesses with significant scalability potential.

Major Investment in Smart Utilities Infrastructure
Bolide: Bridging the Utilities Service Divide
Strategic Implementation Across Shopping Centre Portfolio
Experience and Partnerships Drive Strategy
Community Impact and Skills Development

Bolide: Bridging the Utilities Service Divide

The partnership’s first investment targets Bolide, an integrated utilities brand designed to address service gaps in the market. Sources indicate that Bolide’s approach combines technologies, engineering, and innovative funding capabilities to provide affordable and reliable utilities solutions. The company primarily serves small-, medium-sized, and microenterprises located in townships and secondary cities where communities have historically been underserved and load reduction remains persistent.

Analysts suggest that Bolide’s integrated solution aims to lower operational expenditure while delivering superior utilities management. By combining traditional utilities with connectivity and AI-powered security, the company reportedly provides clients with access to smart, reliable, and affordable decentralized smart grids.

Strategic Implementation Across Shopping Centre Portfolio

The agreement will see Bolide invest approximately R150-million over 24 to 36 months in utilities infrastructure and property technology across ALT Capital Partners’ portfolio of shopping centers. According to the report, this represents a significant step in ALT Capital Partners’ mission to create efficient, sustainable, and technologically advanced services for its customers.

New GX Capital CEO Khudusela Pitje stated, according to sources, that their proptech strategy began six years ago with investment in Fungi Utilities and continued through Bolide Concierge. This approach has reportedly positioned them as strategic partners to landlords, body corporates, and businesses facing challenges with increasingly expensive and unreliable municipal services.

Experience and Partnerships Drive Strategy

ALT Capital Partners principal Ben Kodisang indicated that Bolide was chosen as a strategic partner due to New GX’s 20 years of experience in infrastructure funding. The partnership reportedly combines automated utilities management, connectivity, AI security, and funded energy and water infrastructure., according to recent developments

Sources suggest that Bolide’s additional strategic partnerships with Herotel Business and Vumacam complete the integrated utilities strategy, providing enhanced value to tenants and customers. These collaborations are expected to deliver comprehensive solutions that address multiple aspects of modern utilities management.

Community Impact and Skills Development

Beyond commercial applications, reports indicate that Bolide has engaged third-party partners to provide surrounding communities with access to funding for clean and sustainable utilities. The company has also reportedly initiated youth skills development programs that will be integrated into the smart decentralized utilities sector, creating both immediate infrastructure improvements and long-term workforce development.

Industry observers suggest this initiative represents a significant step toward addressing historical service disparities while promoting sustainable development in regions that have traditionally faced challenges with reliable utilities access.