Madica backs five African startups with up to $200K each, enters Algeria and Cameroon
What's the deal? MadicaDealroom has a profile for this one. Try Dealroom →, a pre-seed investment program for African startups, has added five companies to its portfolio, each receiving up to $200,000. The deals mark its first investments in Algeria and Cameroon and span four markets.
The five startups cover HR technology, financial services, semiconductors, and the circular economy. They are TalenteoDealroom has a profile for this one. Try Dealroom → (Algeria), PaysikaDealroom has a profile for this one. Try Dealroom → (Cameroon), ChipMangoDealroom has a profile for this one. Try Dealroom → (Nigeria), and Delta OilDealroom has a profile for this one. Try Dealroom → and Bekia (Egypt).
What's the endgame? Beyond capital, each company joins Madica's 18-month program, which combines mentorship, executive coaching, funded founder immersion trips, and access to its global investor network. Madica launched in 2022 to close structural gaps in Africa's early-stage funding.
Why the new markets? In Algeria and Cameroon, institutional venture capital remains scarce. Madica's entry marks a rare institutional bet on two markets that investors have largely overlooked.
"By making our first investments in Algeria and Cameroon, we're continuing to prove that world-class businesses can emerge from markets that have historically been overlooked by venture capital," said Emmanuel AdegboyeDealroom has a profile for this one. Try Dealroom →, head of Madica.
Talenteo builds HR management software for mid-market businesses across Francophone Africa. Paysika is a digital neobank offering payment cards to consumers and SMEs in Central Africa. ChipMango works on chip design and Edge AI products, while Delta Oil and Bekia both operate in Egypt's recycling and renewable-feedstock economy.
"We're building the financial infrastructure allowing banking services that are more accessible, practical and inclusive for consumers and businesses across Central Africa," said Roger NengweDealroom has a profile for this one. Try Dealroom →, co-founder and CEO of Paysika.
The signal: Early-stage capital in Africa stays concentrated in a handful of ecosystems. Madica's push into overlooked markets reflects a wider effort to spread venture funding across the continent.
Read more: madica.vc
Image credit: Madica
