Madica, the pre-seed funding programme sponsored through US challenge company Flourish Ventures, has gained $6 million in contemporary capital from Flourish to again 25 to 30 extra African startups over the following 3 years.
Every startup will nonetheless stand up to $200,000, plus 18 months of mentorship, govt training and investor-readiness fortify. All $6 million will cross into new pre-seed and seed offers, and none is put aside for follow-on rounds, Madica mentioned in a observation shared with TechCabal on Tuesday. The corporate mentioned a separate funds can pay for founder fortify however didn’t reveal the figures.
Madica’s new backing comes as early-stage investment turns into more difficult to protected. African startups elevating between $100,000 and $1 million fell from 179 in the second one part of 2025 to 100 within the first part of 2026, a 44% decline, according to Africa: The Big Deal, a investment tracker.
But, many of the cash that does float remains in 4 international locations. Nigeria, Kenya, Egypt and South Africa took 82% of startup investment in 2025, even though they’re house to about 30% of Africa’s other people. Madica’s $200,000 cheques are within the vary traders are pulling again from, and it is going on the lookout for founders out of doors the ones 4 markets
When Flourish launched Madica in October 2022, it put aside $6 million to again 25 to 30 startups over 3 years, with an equivalent quantity for founder fortify. Madica has sponsored 18 startups in 10 international locations up to now, and its first investments came in 2024.
“3 years have given us precious classes and inspiring early indicators, however development enduring firms and assessing challenge results takes longer,” mentioned Emmanuel Adegboye, Head of Madica.
Madica says its portfolio firms have long gone on to lift, on moderate, two times its funding from different traders. On a $200,000 cheque, this is about $400,000 in follow-on investment consistent with corporate, signalling its early-stage bets are drawing the follow-on capital that almost all African pre-seed startups battle to seek out.
In its observation to TechCabal, Madica described this as a portfolio moderate, so some firms have raised much less, and the determine says not anything about funding returns.
Each corporate within the portfolio is majority African-owned. Greater than part have no less than one feminine co-founder, and 39% have a feminine CEO. In September, Madica made its first investments in Algeria and Cameroon. Adegboye instructed TechCabal on the time that Madica now co-invests in maximum offers as a result of a $200,000 cheque on my own steadily isn’t sufficient.
Madica mentioned it’ll pass judgement on the extension through whether or not its startups flip early traction into lasting expansion and display they may be able to ship challenge returns. It desires different traders to duplicate what works. In the event that they do, extra early cash may succeed in founders out of doors Nigeria, Kenya, Egypt and South Africa, the place 40% of Madica’s programs already come from.
True scale calls for transferring past surface-level integrations to powerful execution. We’ve filtered the noise out of Moonshot 2026, optimising the convention strictly for high-calibre connections between startup founders, international monetary operators, endeavor leaders and people rewiring Africa’s technical frameworks. Get 20% off Early Bird tickets for a limited time.
