Madica gets US$6m from Flourish Ventures to back more African startups
- Madica has secured an additional US$6 million from Flourish Ventures.
- The funding will extend Madica's pre-seed investment program by three years.
- Madica plans to invest in 25 to 30 more African start-ups.
Madica's approach to pairing capital with hands-on support for overlooked founders is commendable and could serve as a model for future investment strategies in underfunded markets. The focus on gender diversity within the portfolio is also a positive step towards inclusive growth in the African tech ecosystem. However, the long-term sustainability of these investments remains to be seen.
