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The Africa Business Angel Network (ABAN) and Madica Ventures have signed a two-year Memorandum of Understanding (MoU) aimed at unlocking more local capital and strengthening Africa’s early-stage investment ecosystem.
The partnership, announced at the ABAN Congress 2025 in Lagos, will see the two organisations collaborate on deal flow development, investor education, and co-investment opportunities to accelerate startup growth across the continent.
Under the MoU, ABAN and Madica will focus on three main areas: pipeline sharing of investment-ready ventures in underserved markets, knowledge exchange between local angels and global investment professionals, and ecosystem development to improve investor readiness and startup sustainability.
ABAN President Yemi Keri said the partnership represents a critical step in mobilising more African money to fund African innovation.
“The future of Africa’s innovation economy depends on how effectively we can mobilize local capital and empower local investors,” she said. “Our collaboration with Madica helps bridge the gap between angel investors and institutional capital, ensuring that startups everywhere in Africa can access the right type of support to scale.”
Madica Ventures, a pan-African investment initiative that supports early-stage founders, will contribute its venture-building expertise and global investor network to the collaboration.
“Early-stage founders in Africa need more than just capital. They need a community of investors who understand their context and champion their growth,” said Emmanuel Adegboye, Head of Madica. “Through this collaboration with ABAN, we are aligning angels and institutional investors to work in sync, expand early funding pathways, and ensure that high-potential startups have a real shot at scale.”
The MoU also underscores a shared vision to make Africa’s startup ecosystem more sustainable and inclusive by ensuring that local investors take a leading role in financing the continent’s next generation of businesses.
ABAN CEO Fadilah Tchoumba said the partnership marks a turning point for Africa’s investment landscape.
“This collaboration reinforces our belief that Africans must finance Africa’s growth,” she said. “By working with Madica, we are amplifying local capital participation and creating new pathways for investors to engage more meaningfully with the continent’s most promising ventures.”
The agreement builds on ABAN’s expansive network of over 100 angel groups across Africa and Madica’s growing portfolio of early-stage startups. Both organisations say the initiative will help shift Africa’s “investment centre of gravity” back to the continent by encouraging collaboration between local investors and institutional players.