South Africa: Maia Capital in mezzanine debt deal

Maia Capital – a boutique impact investment firm – has partnered with Nedbank Corporate and Investment Banking to invest in Green Climate Ventures (GCV) to promote digital access to South African communities, and advance South Africa’s energy mix by promoting clean and reliable sources of energy.

The R125 million (c. $6.7 million) mezzanine debt facility is invested through the Maia Debt Impact Fund I, Maia’s maiden impact fund which reached its first close in December 2021.

The investment by Maia Capital forms part of a R1.5bn ($79.7 million) preference share facility arranged by Nedbank CIB, and advanced to GCV.

GCV is a wholly owned subsidiary of New GX, an investment holding company founded by Khudusela Pitje. GCV’s asset portfolio includes interests in digital and clean energy infrastructure assets with leading brands such as Sustainable Power Solutions forming part of the portfolio exposure, with plans to invest in water, utility management, and in parts of the digital infrastructure value chain.

Khudusela Pitje, founder of New GX said, ”The investment into GCV is enabling our business to reposition itself, and to participate in bridging the infrastructure gap in sectors that are critical to unlocking economic growth for South Africa.”

Dinao Lerutla, managing partner at Maia Capital said, ”We are very pleased to have invested in GCV as it aligns with our impact philosophy and allows Maia Capital to establish a long term relationship with parties that share the same investment ethos.”

* Subscribe to Africa Private Equity News’ monthly Dealmaker’s Log for a database of the reported investment deals, exits and fundraising closes. Click here for more information.