Madica Invested $1 Million in Five African Startups
The program expanded its reach into Algeria and Cameroon to support founders in underserved markets.
Updated on Sept. 21, 2026 in Startups
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Madica has invested $200,000 into each of five startups, totaling $1 million in new funding. This expansion grows the investment program's footprint into Algeria and Cameroon, marking a broader push into African markets that historically lack international capital.
Why it matters
By targeting regions with less investment visibility, the program aims to provide critical capital alongside operational support. This effort accelerates business development in emerging tech hubs by addressing the funding gap for early-stage companies.
The firm now oversees a portfolio of 18 companies across 10 African markets. Each of the five newly funded startups will receive $200,000 and participate in an 18-month support program.
The players
Madica
An investment program that provides early-stage capital, executive coaching, and mentorship to startups across Africa.
The details
The program provides a comprehensive support structure including mentorship, executive coaching, and funded immersion trips. Founders gain access to expanded investor networks, a key mechanism designed to connect businesses in markets like Algeria and Cameroon with global capital. This process aims to scale startups that historically received less international investment attention than established hubs like Nigeria or Kenya.
Timeline
2022: Madica launched its investment program.
April 2026: The firm completed three prior startup investments.
September 21, 2026: Madica announced the $1 million investment for the five startups.
The Tech Race
Most international venture capital on the continent remains concentrated in Nigeria, Kenya, South Africa, and Egypt. Madica's expansion into Algeria and Cameroon represents a strategic effort to broaden the map of investable African tech ecosystems.
Startups in Algeria and Cameroon gain access to a support pipeline that includes 18 months of intensive mentorship and investor networking. This development changes the local funding landscape by providing an alternative to the capital concentration seen in larger, more established markets.
The takeaway
The program is bridging the gap for founders operating in historically overlooked African markets. Watch the firm's progress over the next 18 months to see if this model successfully increases the total volume of follow-on funding for these five companies.
Further reading
For broader trends in emerging market funding, explore more at Startups.
Source note: This article includes information reported by Brand Spur.
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