Fundraising Fox

Madica

Venture capital

Pre-Seed · 14 people tracked

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Investment thesis

Madica is a structured pre-seed investment program launched in 2022 focused on Africa. It empowers underrepresented and underfunded mission-driven founders across the continent, providing capital and hands-on support to help early-stage companies grow. The program emphasizes backing founders solving Africa's biggest challenges, offering support from ideation through scale and helping companies navigate competitive markets to secure follow-on funding.

Invests inSector AgnosticAfrica

Source: firm website, verified Aug 3, 2026.

Stage
Pre-Seed
Check
$200K
Instruments
Equity
Founded
2022
Tracked investments
15

Team · 14 people

from the firm's website
Arjuna Costa· Managing Partner, Flourish Ventures

Managing Partner at Flourish Ventures focused on venture investing across emerging markets in Africa, Asia, and Latin America. He was previously a partner at Omidyar Network.

Tilman· Co-founder and Managing Partner, Flourish Ventures

Co-founder and managing partner of Flourish Ventures, an early-stage global VC focused on financial inclusion. He previously led Omidyar Network's global financial inclusion team and was CEO of CGAP.

Efayomi

Investment professional at Flourish Ventures focused on Africa, previously Head of Strategic Finance and interim CFO at logistics startup Lori and an investor with Quona Capital.

Emmanuel Adegboye· Head of Madica

Head of Madica who previously led Africa strategy for Utopia and served as Managing Partner of Utopia Lagos. He has built and led large-scale technology initiatives in emerging markets, including work with Andela and Venture Garden Group, and engages with policymakers on entrepreneurship policy.

Ameya· Venture Partner, Flourish Ventures

London-based venture partner at Flourish Ventures investing in emerging markets with a focus on Africa. He previously co-led financial inclusion investments at Omidyar Network in Mumbai.

Akinyi Wavinya

A Nairobi-based startup specialist with around seven years of experience in operations, capacity building, growth, and strategy who has supported early-stage ventures from ideation to scale across multiple sectors.

Dees

A London-based, South African-born technologist with two decades of experience who holds advisory venture-backed roles and 501c3 board positions and makes angel investments into minority founders.

Francis Vesta· Investment Associate

Investment Associate at Madica focused on identifying and supporting mission-driven founders, with a background in venture capital and private equity, investment due diligence, and financial analysis. He previously co-founded a blockchain gaming startup as CFO.

Isis

Partner at strategic advisory firm Asphalt & Ink with deep experience in Africa's private sector. She co-founded WomenWork and previously held leadership roles at Google, InMobi and MTV Networks.

Isis Nyong'o· Madica Mentor

Partner at Asphalt & Ink, a strategic advisory firm focused on Africa engagement strategy, and co-founder of WomenWork, a women's digital network in Kenya. She previously founded MumsVillage and led Africa strategy at Google, InMobi, and MTV Networks; she sits on the boards of the Nairobi Stock Exchange and Southbridge Group and holds degrees from Stanford and Harvard Business School.

Ons· Finance and Operations Manager

Finance and Operations Manager at Madica with over seven years of experience working with startups and support organizations across Tunisia and Africa, specializing in finance and ESG.

Shamsa Mohamed· Communications and Community Manager

Communications and Community Manager at Madica specializing in marketing and communications for African tech startups, focusing on business visibility, storytelling, and founder support from pre-seed to Series A. Previously a Venture Partner and Accelerator Manager at the Baobab Network.

Wendy Hoffman· Madica Mentorin

A corporate lawyer focused on startups, governance, and fundraising who left legal practice in 2017 to join African payments company Yoco as in-house counsel, supporting Series B and C rounds and international expansion. She later joined the Capital Team at venture builder The Delta to help grow its investment arm.

Yoeal Hailein

Co-founder of fintech business Sava and previously founder of BNPL company Aspira. He was Chief Strategy Officer at the African Leadership University and an equity derivatives trader at Merrill Lynch.

Investments · 15 tracked

founders shown can be your intro path
Anavid
BioVana

Builds national health-data infrastructure across Africa, harmonizing biobank, registry, and clinical datasets into research-ready assets for discovery and precision medicine.

Biovanaresearchbiovanaresearch.com
Daleela
Earthbond
GoBEBAgobeba.com

Kenyan e-commerce platform delivering un-piped utilities like water and cooking energy to households and small businesses via a micro-warehouse and dark-store network with reverse logistics for refillable containers.

Hakimu
Hypeo
Kilimo Fresh
Kola Market
Medikea
Newform Foods
Pixii Motors
Toumtoum.ai
ToumAI

AI-powered multilingual customer engagement platform using NLP and sentiment analysis to deliver personalized interactions across voice, text, and chat for African markets.

Frequently asked questions

What stage does Madica invest at?
Madica invests at the Pre-Seed stage.
What is Madica's typical check size?
Madica typically writes checks of $200K.
What sectors does Madica focus on?
Madica focuses on Sector Agnostic.

Media · Podcasts & interviews

featuring the team

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