Madica, a structured investment program for pre-seed African startups backed by Flourish Ventures, has announced a strategic partnership with the African Business Angel Network (ABAN) to strengthen local investment networks and expand funding access for early-stage ventures across the continent.
Unveiled during the annual ABAN Congress in Lagos, the partnership will enable ABAN-affiliated angel investors and Madica to share deal flow, explore co-investment opportunities, and jointly support portfolio companies in future fundraising rounds. The initiative aims to mobilize more African-led capital while building stronger linkages between angel investors and institutional funders.
“The future of Africa’s innovation economy depends on how effectively we can mobilize local capital and empower local investors,” said Yemi Keri, president of ABAN. “Our collaboration with Madica helps bridge the gap between angel investors and institutional funding, ensuring startups across the continent can access the right support to scale.”
As part of the announcement, Madica revealed new investments in two AI-driven startups, Anavid from Tunisia and Hypeo AI from Morocco. Each will secure up to $200,000 in funding and join Madica’s 18-month investment and mentorship program. The companies will benefit from executive coaching, fully funded immersion trips, and access to Madica’s global investor network.
“Some of the world’s most transformative ideas come from places too often ignored,” said Emmanuel Adegboye, Head of Madica. “The founders we’ve just welcomed are visionary builders reshaping industries and uplifting communities.”
Launched in 2022, Madica focuses on empowering underrepresented founders and startups from underserved regions, driving equitable innovation and inclusive growth in Africa’s tech ecosystem.
