Madica, the pre-seed funding programme backed by US enterprise agency Flourish Ventures, has obtained $6 million in contemporary capital from Flourish to again 25 to 30 extra African startups over the subsequent three years.
Each startup will nonetheless stand up to $200,000, plus 18 months of mentorship, govt teaching and investor-readiness assist. All $6 million will go into new pre-seed and seed offers, and none is put aside for follow-on rounds, Madica mentioned in an announcement shared with TechCabal on Tuesday. The firm mentioned a separate finances pays for founder assist however didn’t disclose the figures.
Madica’s new backing comes as early-stage funding turns into more durable to safe. African startups elevating between $100,000 and $1 million fell from 179 within the second half of 2025 to 100 within the first half of 2026, a 44% decline, according to Africa: The Big Deal, a funding tracker.
Yet, many of the cash that does circulate stays in 4 nations. Nigeria, Kenya, Egypt and South Africa took 82% of startup funding in 2025, although they’re residence to about 30% of Africa’s individuals. Madica’s $200,000 cheques are within the vary buyers are pulling again from, and it goes wanting for founders outdoors these 4 markets
When Flourish launched Madica in October 2022, it put aside $6 million to again 25 to 30 startups over three years, with an equal quantity for founder assist. Madica has backed 18 startups in 10 nations to date, and its first investments came in 2024.
“Three years have given us valuable lessons and encouraging early signals, but building enduring companies and assessing venture outcomes takes longer,” mentioned Emmanuel Adegboye, Head of Madica.
Madica says its portfolio corporations have gone on to boost, on common, twice its funding from different buyers. On a $200,000 cheque, that’s about $400,000 in follow-on funding per firm, signalling its early-stage bets are drawing the follow-on capital that almost all African pre-seed startups battle to seek out.
In its assertion to TechCabal, Madica described this as a portfolio common, so some corporations have raised much less, and the determine says nothing about funding returns.
Every firm within the portfolio is majority African-owned. More than half 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 most offers as a result of a $200,000 cheque alone typically isn’t sufficient.
Madica mentioned it should decide the extension by whether or not its startups flip early traction into lasting progress and present they will ship enterprise returns. It needs different buyers to repeat what works. If they do, extra early cash may attain founders outdoors Nigeria, Kenya, Egypt and South Africa, the place 40% of Madica’s functions already come from.
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