{
  "id": 7344486,
  "title": "“$200k isn’t enough”: Madica’s Emmanuel Adegboye on the brutal reality of early-stage funding",
  "url": "https://urgent.news/2026/09/14/200k-isnt-enough-madicas-emmanuel-adegboye-on-the-brutal-reality-of",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-14T15:36:05.000Z",
  "source": {
    "name": "TechCabal",
    "slug": "techcabal",
    "url": "https://techcabal.com/2026/09/14/madica-africa/"
  },
  "original_language": "en",
  "account": "Madica, an Africa-focused investment program by global venture firm Flourish Ventures, has been making strides in the continent's early-stage funding landscape. The program invests $200,000 cheques and backs over a dozen startups, focusing on markets that are often overlooked by other investors. Emmanuel Adegboye, head of Madica, explains that this strategy is driven by the need to fund high-potential startups that are underfunded due to a lack of awareness of their potential. Madica's portfolio includes companies from 10 African markets, with at least 50% of its companies having at least one female co-founder. Adegboye has adjusted his investment approach as he has learned that early-stage startups require more capital for longer periods. He now actively co-invests in most deals, recognizing that broader syndicate of investors increases the chances of success.",
  "summary": "Madica has invested at least $200,000 in over a dozen African startups but its head, Emmanuel Adegboye, has learnt that sometimes more is needed.",
  "key_points": [
    "Madica invests $200k cheques in African startups",
    "Emmanuel Adegboye heads program focusing on underfunded markets",
    "Adegboye co-invests to boost success chances"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}