African pre-seed investment programme Madica announced on Tuesday, 27 October 2026, a fresh $6 million commitment from Flourish Ventures. The additional backing will extend the programme for three years, with plans to support another 25 to 30 early-stage businesses across the continent.
The funding is a new commitment to the programme, not a $6 million round raised by any one startup. The 25 to 30 investments are a target for the coming years rather than deals that have already been completed. Established in 2022, Madica set out to provide capital and practical support to founders often overlooked by traditional venture networks.
Existing investments in Algeria and Cameroon
Madica says it has invested in 18 businesses so far, working across financial services, health, semiconductors and recycling. Technology news publication Condia reports that the original portfolio covers ten African countries and 12 sectors.
Recent investments include Talenteo, an Algerian company selling human resources software, and Paysika, a Cameroonian fintech seeking to widen access to digital financial services. Madica also lists Egyptian recycling business Bekia and Nigerian semiconductor company ChipMango among its investments.
The financing is aimed at the earliest stages of company growth. Madica combines investment capital with mentoring, executive coaching and introductions to other investors. Its original support model included an 18-month programme intended to assist companies after their first institutional funding.
Three more years to measure outcomes
Madica says the extension will allow it to track how portfolio businesses develop and whether they can attract later-stage financing. The announcement does not mean that the planned investments have already been made or that Flourish Ventures has realised investment returns. It does expand capital allocated to African startups seeking funding at the pre-seed stage.