When we launched Madica, we weren’t setting out to create just another investment program. We were pushing back against a system that has made it far too easy to ignore most African founders. A system where geography, gender, and networks quietly dictate who gets a seat at the table. The result? Brilliant, locally grounded entrepreneurs - the ones closest to the problems are left without the capital or support to scale their solutions. We built Madica to change that. We exist to show the world that Africa is more of an opportunity than a risk. By funding local, underrepresented founders, we can unlock the next generation of transformative companies and back founders the industry too often overlooks. We're here to prove that they’re not just worth funding, they’re worth betting on.

A Broken Funding Ecosystem in Africa

The “Africa rising” tech story continues, and headlines boast record funding, a fairytale in numbers. But scratch the surface and you find a far different, harsher reality. Most of that capital is flowing into the same handful of founders, sectors, and cities.

In the first five months of 2025 alone, African startups raised $1.055 billion, but a staggering 84% of that went to companies in just four countries: Egypt (31%), South Africa (26%), Nigeria (15%), and Kenya (12%). Sector-wise, fintech continues to dominate. 2023 saw an early-stage fintech surge worth $1 billion, accounting for roughly 42–43% of total African startup funding. And the gender gap? Still massive. As of mid-2024, just 11.8% of African tech startups had a female CEO, and 21.9%had a female co-founder. That means founders best placed to solve local challenges are often ignored. What do these disparities mean for founders on the ground? For example, imagine a founder building a climate-tech solution in Ouagadougou... the odds are stacked against them. They’re not based in a major tech hub; they don’t have a foreign co-founder or Ivy League polish. They might even have solid traction, paying customers, strong unit economics, pilot partners and yet, when they knock on investors’ doors, they keep hearing the same refrains, “You’re too early. Too risky. Too unscalable.” This isn’t due to a lack of promise, it’s because only a small subset of well-networked founders benefit from VC activity. The rest are systematically shut out, not because they lack potential, but because the system wasn’t designed with them in mind.If you don’t check the VC checklist, you’re left to bootstrap, stall, or burn out, not because of lack of opportunity, but because the system wasn't built for you.

This isn’t just a funding gap. It’s a structural failure, a mountain blocking the very talent that could solve Africa’s greatest challenges. It’s leaving behind the very people closest to the continent’s most urgent problems: local founders who are solving real challenges in their communities without the backing or spotlight they deserve. The result is an ecosystem that touts big funding numbers but misses out on broad-based, inclusive innovation.

Investing in Those Overlooked by the Status Quo

When we launched Madica, we weren’t trying to replicate what already exists. We set out to challenge the entrenched patterns that shape who gets funded, and who doesn’t. Our focus is clear: we back the founders most often ignored by the status quo. That means intentionally prioritising women-led startups, locally educated and local-first founders, and teams building outside of the traditional “hotspot” markets. Diversity isn’t a buzzword for us, it’s our entire thesis. We’re actively redefining what an ‘investable’ African founder looks like, not foreign, not flashy, but local, ambitious, and deeply rooted in their communities. But our approach isn’t charity. It’s conviction. We believe the next generation of great African companies is being built in the shadows of the ecosystem, in places and by people the market has overlooked for too long.

So what do we do differently? We invest up to $200,000 via a founder-friendly SAFE and accept applications on a rolling basis, no rigid cohorts or demo day pipelines. Once you’re in, we roll up our sleeves. Our program is deliberately hands-on: one-on-one mentorship with seasoned operators, immersion trips to global and African ecosystems, and tailored support across fundraising, governance, talent, and growth strategy. Because here’s what we know: funding alone doesn’t close the gap. In a landscape where 60% of African founders say they lack access to strategic support, we show up with more than a cheque, we show up as partners. We’re changing who gets funded, how they’re supported, and what early-stage investing can look like on the continent. And we’re doing it founder by founder, market by market.

Beyond Capital

We’re not just writing cheques. We combine flexible capital with structured support: one-on-one mentorship, personalised coaching, and access to global and local networks. Our support is designed to meet founders where they are and not force them into someone else’s model. This model is intentional. We believe early-stage founders need more than money, they need someone to walk with them. Someone to bet on them when others won’t.

Changing the Default

If the current system wasn’t built for most African founders, then it’s not the founders that need fixing. It’s the system. We’re not here to tweak around the edges. We’re rewriting the rules of early-stage investing so it works for the many, not just the few. We believe brilliance is everywhere… in Ouagadougou, in Blantyre, in Gulu and Kumasi, but access isn't. Every time we back a founder who doesn’t fit the mould, and they win, we chip away at the tired narratives that have kept capital gated for too long. We’re not just investing in startups. We’re building a future where African innovation reflects the full depth, diversity, and daring of the continent. And we’re showing the global investment community that it’s time to update its lens. Africa’s next generation of tech leaders may not look like the last, and that’s exactly where the opportunity lies.

So let’s stop asking underrepresented founders to catch up to a broken system and instead build one that was designed for them from the start.