Investment Program Madica Announces First Set Of African Tech Portfolio Companies

Madica, a structured investment program designed for pre-seed stage startups in Africa, announced its first set of investments in three startups today. In line with Madica’s mandate, each startup has received an investment of up to USD 200 K and is now a part of Madica’s comprehensive investment program which includes 18 months of dedicated company-building support tailored to the unique needs of each startup. Madica delivers its support through a highly personalized curriculum, hands-on mentorship, invitations to fully-funded week-long founder immersion trips, executive coaching opportunities, and access to madica’s global network of investors for follow-on funding.

Launched in 2022 and affiliated with Flourish Ventures, a global fintech venture capital firm, Madica is a sector-agnostic investment program designed to address structural gaps in Africa’s startup ecosystem. The program tackles key challenges such as limited access to capital, a scarcity of investors, insufficient mentorship, and the lack of structured support necessary for startups to resolve critical issues and foster innovation, entrepreneurship, and wealth creation across the continent.

Madica’s first set of investments, selected from applications covering Africa, deliver tech-enabled solutions across growing and expanding verticals, include: Kola Market (Ghana), founded by Marie-Reine Seshie, assists SMEs in enhancing sales, optimizing inventory, and securing financing via a comprehensive B2B platform that simplifies business operations and improves efficiency; GoBEBA (Kenya), co-founded by Lesley Mbogo and Peter Ndiang’ui, offers a direct-to-customer e-commerce platform that streamlines the purchase and delivery of bulky essential utilities, ensuring safe, quick, and reliable doorstep service in urban areas; and NewForm Foods (South Africa), founded by Brett Thompson and Tasneem Karodia, enables food producers and retailers to rapidly develop and scale cultivated meat products at a cost well below industry standards.