Madica is a structured investment program for pre-seed stage companies in Africa. Madica aims to empower mission-driven founders by democratizing access to world-class company building support, which is available today only to a few well-networked entrepreneurs.
SAN FRANCISCO, Calif., October 24, 2022 – Flourish Ventures, a global venture capital firm investing in mission-driven fintech entrepreneurs, today announced the launch of affiliate Madica, a structured investment program for pre-seed stage technology companies in Africa. Aiming to serve mission-driven and under-represented founders, the new sector-agnostic program will invest capital in tech startups and offer founders tailored mentorship and world-class company-building support. Over the next three years, Madica, seeks to back 25-30 African entrepreneurs with up to $200,000 each, coupled with multi-year programmatic support.
Includes funding from Ford, Hewlett, Luminate, MacArthur, OpenSocietyFoundation, and Chandler foundations totaling over half a billion dollars
$30 million initial investment will bridge gaps between industry, civil society, and policymakers, broadening generative AI infrastructure in service of society
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