Flourish Ventures invests fresh $6 million in Madica’s startup programme

Madica, the pre-seed investment programme backed by US venture firm Flourish Ventures, has received $6 million in fresh capital from Flourish to back 25 to 30 more African startups over the next three years. Each startup will still get up to $200,000, plus 18 months of mentorship, executive coaching and investor-readiness support. All $6 million will go into new pre-seed and seed deals, and none is set aside for follow-on rounds, Madica said in a statement shared with TechCabal on Tuesday.