Madica invests $200,000 in five African startups, enters Algeria and Cameroon

Madica, an Africa-focused pre-seed investment programme , has invested $200,000 each in five new African startups, including its first bets in Algeria and Cameroon, two markets that rarely appear in the continent’s funding announcements.
Each company also joins an 18-month programme that adds mentorship, executive coaching, funded immersion trips, and access to Madica’s investor network, the firm said.
The five deals take Madica’s portfolio to 18 companies across 10 markets since it launched in 2022 and bring its total deployed this year to $1.6 million after three investments in April. The new investments reflect Madica’s thesis directly, which is to find startups outside the bi...