Madica Secures $6 Million from Flourish Ventures to Back More African Startups

Madica, a pre-seed investment programme for African startups, has secured an additional $6 million from Flourish Ventures to extend its investment pilot by three years. The funding will enable Madica to invest in 25 to 30 additional companies while expanding its hands-on company-building support for founders underserved by established venture capital networks. Launched in 2022, Madica was established to demonstrate that founders operating in Africa’s overlooked markets, sectors and networks can