Madica
Overview
Madica is a venture capital firm launched in 2022, specializing in early-stage investments in African startups. Based in Africa, Madica endeavors to empower underrepresented and mission-driven founders on the continent. It is affiliated with Flourish Ventures, a global VC firm, and operates with a sector-agnostic approach, meaning it targets founders and startups from diverse industries. Madica focuses on addressing the structural deficits in Africa’s startup ecosystem by providing tailored mentorship, executive coaching, and access to a global investor network. As of 2025, Madica has expanded its operations and investments across the African continent.
Recent Developments
- October 2025: Madica announced its strategic partnership with the African Business Angel Network (ABAN) to broaden investment opportunities and capital access for African startups. This collaboration aims to mobilize both local and institutional capital to support African innovation (source).
- February 2025: Madica expanded its investment footprint in North Africa, investing approximately $800,000 in four new tech-enabled startups across Egypt, Morocco, Tunisia, and Tanzania. This move marked their first venture into the North African market (source).
- January 2025: This year also saw the company backing two AI-driven startups, Hypeo AI and Anavid, with each receiving $200,000 as part of Madica's investment program aimed at fostering AI innovation across the continent (source).
- 2024: Throughout the year, Madica continued to support gender diversity within its portfolio, achieving a benchmark where over 50% of its supported startups have women in leadership positions (source).
- 2023: Madica expanded its program offerings, integrating more startups into its comprehensive 18-month support framework that includes executive coaching, mentorship, and exposure to global markets through immersion trips (source).
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2022 |
| Headquarters | Africa |
| Founders | Emmanuel Adegboye |
| Revenue | Not Public |
| Profits | Not Public |
| Key Investors | Flourish Ventures |
| Industry | Venture Capital |
| Number of Employees | 2-10 |
Early History
Madica was established in the early 2020s with a mission to close the funding and support gap faced by early-stage African startups. Recognizing the discrepancy in venture capital availability, Madica aimed to deliver more than just capital. It launched with the support of Flourish Ventures, which provided the foundational backing necessary for Madica to scale rapidly. Initially, Madica focused on empowerment through structured support and capacity building, focusing particularly on startups that were often overlooked due to geographical or demographic biases. By fostering an inclusive approach to venture capital, Madica quickly built a reputation for championing diversity and innovation.
Company Profile and Achievements
Madica operates as a structured investment program dedicated to pre-seed startups across Africa, focusing on enabling environments for underrepresented and mission-driven founders. This approach allows Madica to:
- Bridge Financial Gaps: By providing cheques that come with an extensive support framework, Madica fills the gap often left by accelerators and traditional VC firms.
- Promote Gender Diversity: Significant strides have been made to ensure women are well represented in leadership positions within their funded startups.
- Facilitate Global Exposure: Startups in Madica’s program benefit from international immersion trips, executive coaching, and tailored mentorship, which equips them for sustainable growth.
- Geographical & Sectoral Reach: Originally focused on Sub-Saharan Africa, Madica’s influence has extended to North Africa, enhancing its investment diversity across sectors such as technology, health, AI, and retail.
Through these initiatives, Madica has facilitated the growth of multiple startups into noteworthy enterprises within the African ecosystem, contributing significantly to innovation and economic growth.
Current Operations and Market Position
As of 2025, Madica continues to hold a prominent position in Africa's venture capital scene. Its sector-agnostic investment strategy targets a wide array of industries, promoting innovation across diverse fields. The firm’s involvement in building robust startup ecosystems underscores its competitive advantage in addressing unmet needs and providing comprehensive support to its portfolio companies. This has positioned Madica as an indispensable player in nurturing startups capable of scaling rapidly and sustainably.
Conclusion
In summary, Madica exemplifies a transformative force in African venture capital, leveraging its sector-agnostic approach to democratize access to startup funding and resources. Its commitment to gender diversity, international exposure, and structured support has established it as a key player in fostering sustainable innovation across the continent. As the firm continues to expand its geographical reach and deepen its involvement in high-potential startups, Madica is well-positioned to shape the future of technology and business in Africa, potentially setting new standards for venture capital globally.