The Silicon Valley playbook doesn’t work in Africa—Madica is proving why

Madica, which stands for Made-in-Africa, was launched in 2022 as an affiliate of global VC firm, Flourish Ventures, to invest in early-stage African founders, especially women, locally educated CEOs, and teams outside the “Big Four” hubs. 

In 2022, when I spoke to Emmanuel Adegboye, head of Madica, he explained that by deliberately seeking out startups from other countries, he hoped…