Madica Invests USD 600 K In Three African Startups, Launches Fundraising Guide

Madica, an Africa-focused pre-seed investment program, has invested USD 600 K across three African startups: Kilimo Fresh (Tanzania), Hakimu (Kenya), and Biovana (Nigeria), deploying up to USD 200 K each.

Launched in 2022 and led by Emmanuel Adegboye, Madica targets underrepresented founders through an 18-month program offering mentorship, coaching, and global immersion trips.

The three startups in the new cohort span agritech, legal AI, and health data infrastructure, respectively, reflecting a push to diversify Africa’s funding landscape beyond dominant markets and sectors.

Alongside the investments, Madica released a 75-page fundraising guide for first-time founders and appointed venture builder Tauriq Brown as mentor to support portfolio growth.