What Madica does

Madica is a structured pre-seed investment program for African technology startups, established in 2022 as a division of Flourish Ventures Services LLC (a Delaware/California LLC whose parent, Flourish Ventures, manages an $850M global early-stage fintech venture fund). The program provides up to $200,000 per company via Simple Agreements for Future Equity (SAFEs) with variable valuation caps, combined with an 18-month company-building curriculum that includes executive coaching, dedicated mentorship, peer-to-peer cohort learning, and up to three fully-funded immersion trips to Cape Town, London, Lagos, and Nairobi. Madica is explicitly mission-driven, targeting underrepresented and underfunded African founders — including women-led teams, local operators outside major tech hubs, and innovators in overlooked sectors — with a stated goal of at least 50% gender diversity in portfolio leadership.

Madica serves pre-seed African startups with a minimum viable product and ideally some paying customers, led by full-time local founders with little or no prior institutional funding. Its disclosed portfolio spans AI (ToumAI, Hypeo AI, Anavid), FemTech (Motherbeing/Daleela), healthcare (Medikea), smart mobility (Pixii Motors), e-commerce (Kola Market, GoBEBA), biotech (NewForm Foods), and clean energy (Earthbond) across Egypt, Morocco, Tunisia, Tanzania, Kenya, Nigeria, Ghana, and South Africa. The go-to-market combines a rolling online application process (screening, due diligence, and Investment Committee review), community-led sourcing through mentor and partner networks, and ecosystem partnerships — notably the October 2025 strategic alliance with the African Business Angel Network (ABAN), which provides access to 5,000+ angels across 37 African countries for deal sharing and co-investment.

The firm's economic model is pre-seed equity investment: Madica does not charge management or program fees, and returns accrue solely through future portfolio exits. Operating costs are absorbed by parent Flourish Ventures, which also provides Madica's portfolio companies with downstream access to Flourish's global investor network for follow-on capital. Madica does not develop proprietary technology; AI/ML capabilities referenced in its portfolio (computer vision, generative AI, multilingual LLMs, autonomous agents) are products of investee companies rather than Madica itself.

Name

Madica

Legal name

Flourish Ventures Services LLC

Website

https://madica.vc

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

Madica is a structured pre-seed investment program for African startups, established in 2022 as a division of Flourish Ventures. It deploys up to $200,000 per company via SAFEs alongside an 18-month mentorship and immersion program targeting underrepresented African founders across multiple sectors and geographies.

Ownership category

akta.pro rank

Product category

Pre-Seed Venture Capital

akta.pro primary industry

Early-Stage Venture Capital (Pre-Seed/Seed) (FSANAAAA)

akta.pro secondary industry

Accelerators & Incubators (Investor-Operated) (FSANAAAM)

Keywords

• Pre-seed investment
• Venture capital program
• Startup acceleration
• Founder mentorship
• Africa venture funding

Headquarters

HQ city

Nairobi

HQ country

Kenya

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Investment Returns: Madica provides pre-seed investment to African startups in exchange for equity. The program uses SAFEs (Simple Agreements for Future Equity) with variable valuation caps. Returns are generated through equity appreciation and eventual exits from portfolio companies.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

Madica is a structured 18-month pre-seed investment program for African startups that provides up to $200,000 in equity funding (via SAFEs with variable valuation caps) paired with world-class mentorship, executive coaching, peer-to-peer learning, fully-funded immersion trips to global tech ecosystems, and access to a global investor network for follow-on capital. The program specifically targets underrepresented founders, including women-led businesses and operators in underserved regions outside major technology hubs.

Product overview

Madica is a structured pre-seed investment program for African startups, launched in 2022 and affiliated with Flourish Ventures. The core offering is an 18-month investment program providing up to $200,000 in funding along with a comprehensive company-building support package. The program includes mentorship and executive coaching, fully-funded immersion trips to key ecosystems (Cape Town, London, Lagos, Nairobi), access to a global investor network for follow-on funding, and peer-to-peer learning opportunities. Madica also offers the 'Zero to Funded' guidebook as a public resource for African founders. The program is sector-agnostic but focuses on technology-driven companies led by underrepresented founders operating in Africa.

Differentiator

Problem solved

Functional benefit

Products and services

• Madica Investment Program

Quantifiable outcome

• Portfolio of 8+ startups across 8+ countries and 6+ sectors within first two years of operation
• +2 more outcomes

Named customers10 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability9 records

Partnerships

One partnership is on record.

• African Business Angel Network (ABAN)coreStrategic or Co-development Partner · 20 October 2025Madica announced a strategic partnership with ABAN during the annual ABAN Congress in Lagos. The collaboration enables ABAN-affiliated angels across the continent and Madica to share deal flow and explore co-investment opportunities and future fundraises by portfolio companies, broadening access to capital and support for African startups. ABAN is the largest pan-African organization of Angel investors, active in 37 African countries with 75+ member networks and more than 5,000 angel investors.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Techstars: Global accelerator network running 3-month cohort programs with standardized mentorship and investor access. Comparable in structured accelerator model, though typically larger checks and global rather than Africa-specific network.
• Flourish Ventures: Madica's parent organization — an $850M global early-stage fintech venture firm. Comparable as a capital source and network, but operates at a later stage and with a fintech-only thesis versus Madica's sector-agnostic pre-seed approach.
• Y Combinator: The world's largest pre-seed/seed accelerator, now actively investing in African startups. Competes with Madica for top African pre-seed founders offering standard $500K deals, global investor network, and a well-known brand — but without Africa-specific on-the-ground support.

Direct peers

• Launch Africa Ventures: Early-stage venture fund investing in African technology startups across the continent. Direct competitor for African pre-seed deals with comparable check sizes and sector-agnostic thesis across English, French, and Portuguese-speaking Africa.
• Savannah Fund: Pan-African pre-seed and seed VC fund specifically focused on early-stage African tech startups. Closely comparable to Madica in stage, geography, and target founder profile, providing both capital and structured support to underrepresented African founders.
• Antler: Global pre-seed VC and accelerator with active programs across Africa (including Kenya, Nigeria, South Africa). Directly comparable to Madica as both provide early-stage funding with structured company-building support, founder cohorts, and mentor networks targeting underrepresented founders.
• Founders Factory Africa: Africa-focused startup accelerator and venture builder that invests in and co-builds African tech startups, operating across multiple African countries. Direct peer offering similar accelerator-style programming, mentorship, and investor access to early-stage African companies.
• Partech Africa: Africa-focused venture fund backed by Partech Partners, investing from seed to growth in African tech-enabled businesses. Comparable to Madica in Africa focus and stage, though typically at slightly later stages and with larger average check sizes.
• 500 Global (500 Startups): Global venture firm with active programs and a dedicated Africa fund, providing pre-seed to Series A capital plus accelerator programming. Directly comparable in combining structured programming with capital deployment across emerging markets.

Others

• African Business Angel Network (ABAN): Pan-African organization representing 75+ angel networks with 5,000+ angel investors across 37 African countries. Strategic partner of Madica — comparable not as a competitor but as a complementary capital pool that co-invests and shares deal flow with pre-seed programs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MadicaVC
• Facebookfacebook.com/MadicaVC
• LinkedInlinkedin.com/company/madica-vc
• Instagraminstagram.com/MadicaVC

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments21 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Madica