Madica, an Africa-focused pre-seed investment program, raises **$6 million** from Flourish Ventures to extend its pilot for **three years**. The funding supports early-stage startups across the continent. Madica operates under Flourish Ventures’ broader ecosystem.
Madica, an Africa-focused early-stage investment firm, allocates $800,000 in pre-seed funding to four African startups. The move marks the firm’s expansion into North Africa, broadening its regional investment scope.
Madica, a pre-seed investment program focused on African startups, invests in three new ventures as part of its inaugural funding round. The initiative targets early-stage companies across the continent, providing capital to support their growth. No specific names or sectors of the startups are disclosed in the announcement.
Madica Ventures, launched by Flourish Ventures, offers up to **$200,000 in equity funding** to **pre-seed startups across Africa** over the next three years. The sector-agnostic program aims to expand capital access for early-stage founders. Emmanuel Adegboye, Madica’s head, leads the initiative to address funding gaps in Africa’s tech ecosystem.
Dec 2022TechCabalNews article
Madica Ventures
Madica Ventures runs a structured investment program for pre-seed companies in Africa.
