Pre-seed investment programme Madica has announced five new investments, expanding its portfolio into Algeria and Cameroon for the first time while strengthening its presence across the continent.
The investments span four markets and sectors ranging from HR technology and financial services to semiconductors and the circular economy. According to the company, this reflects the diversity of innovation taking shape across Africa.
Each of the five portfolio companies will receive up to $200,000, bringing the total commitment to $1 million. They will also join Madica's 18-month investment programme, which combines patient capital with mentorship, executive coaching, funded founder immersion trips, and access to the initiative's global investor network.
In Algeria and Cameroon, where institutional venture capital remains scarce, Madica said its first investments mark a rare institutional entry into two markets that investors have largely overlooked.
Talenteo (Algeria) is an HR management platform targeting medium-sized and mid-market businesses across Francophone Africa to digitise and streamline HR activities.
Paysika (Cameroon) is a digital neobank providing consumers and SMEs across Central Africa with virtual and physical payment cards, enabling international transactions.
ChipMango (Nigeria) is building Africa's semiconductor ecosystem through chip design services, engineering education, and localised edge AI products.
Delta Oil (Egypt) is building infrastructure that connects fragmented used cooking oil collection networks with international buyers, turning an underused waste stream into a feedstock for renewable fuels.
Also in Egypt, Bekia is a digital platform building the collection layer for the country's recycling economy, paying households and businesses for recyclable waste and supplying it to industrial buyers.
Madica's push into North and Central Africa has been building for a year.
ITWeb Africa reported in January 2025 that the programme's first investments of that year went to Ghana's Kola Market and Kenya's GoBEBA, both in markets it said were routinely overlooked by venture capital.
It later backed two AI-powered start-ups, Anavid (Tunisia) and Hypeo AI (Morocco), in October 2025 — its first entries into North Africa — before this week's moves into Algeria and Cameroon.
Commenting on the new investments, Emmanuel Adegboye, head of Madica, said: "By making our first investments in Algeria and Cameroon, we're continuing to prove that businesses can emerge from markets that have historically been overlooked by venture capital."
Louai Djaffer, co-founder and CEO of Talenteo, said: "Too often, founders in markets like ours have to work twice as hard to access the capital and networks needed to grow. Madica looked beyond our geography and backed our ambition. Their support gives us the confidence, connections and expertise to accelerate our growth and deliver modern HR technology to businesses across Francophone Africa."
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