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Core capital-raising document that frames the venture thesis, operating model, growth opportunity, and investment proposition.
This is a high-value strategic document because it shapes how the venture is understood externally and serves as a reusable reference for fundraising, partnerships, and strategic communication.
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Mobilizing Conscious Capital To Transform Health Outcomes in Africa Seed –Series A | Reinvesting Profits for Impact SEPTEMBER 2025 Entrepreneurship Innovation Prosperity Health + Climate HEALTH=PROSPERITY. Madiro’sphilanthropicimpactinvestmentfundbacksAfrica-focusedstartupsthateliminatepoorhealthasabarriertopeople buildingbetterlivesforthemselves,theirfamiliesandtheircommunities. Our focus is on health —but the effects reach further. Healthier people can work, care for others, and build futures. Our ventures create jobs, strengthen health systems, expand access to care andreduce the health impacts of climate change. Conscious capital goes in. Impact and returns come out. Then we reinvest —fueling a cycle of growth, dignity, and prosperity. 4 68 UNDER 5 MORTALITY 42.6%>95% ACCESS TO BASIC HEALTHCARE Very LowMedium CLIMATE CHANGE RESILIENCE SUB-SAHARAN AFRICA NORTH AMERICA & WESTERN EUROPE LIFE EXPECTANCY 6379 $1,550>$60,000 PER CAPITA GDP Per 1000 births Per 1000 births The World’s Most Urgent –and Investable –Health Challenge 3 Note:SSA data estimated using latest available per country data from WHO and population sizes, all other regions 2017 World Bank data (SSA unavailable).Health professional and infant mortality data from World Bank Africa faces the world’s toughest health and climate challenges –yet has the greatest entrepreneurial potential to solve them. A Health Market Poised for Scale and Impact THE STATE OF THE HEALTHCARE MARKET AFRICA: A GROWING MARKET 4 Investing in Africa’s Health Entrepreneurs 5 Entrepreneurship is Africa’s next wave of development —health is at its leading edge. Africa has made extraordinary health gains over the past two decades —including an 80% drop in HIV-related deaths, a 60% drop in malaria deaths, and an 11-year increase in life expectancy. These gains were driven by decades of investment in public health systems and local capacity. But pressure is rising. Climate shocks, chronic disease, and displacement are pushing fragile health systems beyond their limits. Today, a new chapter is emerging —powered by African entrepreneurs building scalable, sustainable, affordable health solutions. Madiro invests in the missing middle —backing bold Seed to Series A ventures solving real health challengesacross the continent, where early-stage companies often struggle to thrive without catalytic capital. How Madiro Grows Capital and Impact A VIRTUOUS CYCLE •Madiro’srigorousapproachtoventurephilanthropymaximizesimpactandprofit. •Profitsarereinvestedintooursocialmission,expandingourcapitalpoolandamplifyingimpact. •Alongsidecapitalweprovidevaluecreationservicesandsupportstronggovernancetoacceleratepathstoscale. 6 STARTUP INCUBATORS & ACCELERATORS LARGE FUNDS PHILANTRHROPY, FRIENDS & FAMILY PRE - SEED SEED SERIES A SERIES B Conveyor belt of curated quality deal flow •>350 health incubators in Africa •$100s of millions invested •1,000s of startups created •“Missing Middle” gap investor •Seed to Series A •US$100k -$500k •Value creation support to investees •Deal flow for Series A+ investors •Leverage via ecosystem co-investors •Require novel quality deal flow •Minimum US$3m-5m check size = US$7—10m rounds. •Fatal round size for most startups exiting incubators MADIRO DE-RISKS YOUNG COMPANIES IN PREPARATION FOR LARGER ROUNDS A SIGNIFICANT PORTION OF STARTUPS EXITING INCUBATORS ARE NOT VENTURE BACKABLE. MADIRO SUPPORTS THESE AS GOING CONCERNS FOR IMPACT AND LIVELYHOOD CREATION 7 Backed by Madiro: Ventures and Partners We’ve Invested In 8 STARTUPS: HUMANITARIAN PARTNERS: Impact to date 9 20,000+ jobs wasdeployedacrossimpact investmentsandgrants $6.45M 11 high impact investments madetodate 6x Leverageforevery$1Madiro invested Givenaccesstohealthproducts andservicesacrossAfricaby Madiroanditspartners 5.1M+ people createdorsupported EXIT SPOTLIGHT OurfirstinvestmentexitwithJazaEnergy,aninnovativeutilitycompany,providing cleanenergytooff-gridcommunities.Weachieveda40%profitinjusttenmonths. Thissuccessisnotonlyafinancialwinbutasignificantimpactmilestone. OurinitialinvestmenthelpedextendJaza’soperationsinTanzaniaandNigeria, reaching107,261peopleandpowering15,323homesthrough129sites.Madiro investedinJazaEnergytoimprovelunghealthbyreducingindoorairpollutionfrom burningcharcoalandkeroseneinhomes. Withthisexit,Jazawillreceiveanadditional$30,000,000investmenttogrowtheir businessacrosstheAfricancontinent.Madiro'soriginalinvestmentplusprofitwill bereinvestedintoanewstartupbytheendof2024,continuingourmissiontodrive impact. RAISE CAPITAL Raise$100Mby2030–including$30MfortheMadiro PhilanthropicImpactInvestmentFundand$70Mforthe ConsciousCapitalEvergreenFund,acommercialvehicle launchingin2026. INVEST 50 new investments by 2028 additional start-ups. For every $4 raised, $1 will be invested in Value Creation Services. IMPACT Mitigatethehealthimpactsoftheclimatecrisis.Acrossall ourinvestments,weaimtogiveaccesstohealthservicesand productstoover100millionindividualsacrossAfrica. LOCAL FOOTPRINT IN AFRICA AttractmoreprivatecapitalforAfricanhealthtechthroughour activeroleintheinvestmentecosystem—ledfromKigali. 2025-2030 Goals 10 Our Board and Management Team Ourteamhasdecadesofexperienceinthepublicandprivatesectors,spanningglobalhealth,humanitarianservice,technologydevelopment,andsuccessful start-upoperations,exitsandinvesting.Weunderstandhealthcaredeliverypainpointsinthecontextsinwhichwework,enablingustoidentifyinnovationswitha higherprobabilityofimpactandsuccess. BOARD MEMBERS MANAGEMENT TEAM Adrian Schauer Co-founder, Chair Founder & CEO AlayaCare. Jean-PhilbertNsengimana Chief Digital Advisor, Africa CDC EfosaOjomo Author: The Prosperity Paradox, Director of Prosperity ChritensenInstitut Dr. Gillian Morantz* Co-founder, Asst. Prof. of Pediatrics, McGill University,. Dr. Adrienne Chan Medical advisor, Infectious Diseases Physician, SunnybrookeHospital Monica Kahindo Co-Chair, Fundraising Task Force *BoardmemberoftheGillianandAdrianSchauerFoundation JamesFraser President&CEO LeahEklandh Director of Partnerships; Madiro Global Health (USA) Lead AnoukHilti-Zingg Madiro Switzerland Lead, Founding and Managing Partner, Assarée SharonBatamuriza Fund Manager, Kigali Madiro Africa Lead Michaël Bontyes Director of Digital Health and Technology Alka Chaudhary Manager of finance and operations 9 INVESTMENT COMMITTEE The Investment Committee includes both Madiro staff and external experts. Staff members are responsible for sourcing, vetting, and presenting investment opportunities. Independent IC members provide objective review and make final investment decisions. This structure ensures professional rigor while preserving independence and fiduciary oversight. COMMITTEE MEMBERS INVESTMENT LEADS Adrian Schauer Co-founder, Chair Founder & CEO AlayaCare. Dr. Gillian Morantz Co-founder, Asst. Prof. of Pediatrics, McGill University, JamesFraser President&CEO SharonBatamuriza Fund Manager, Madiro Africa Lead 10 Monica Kahindo Director & Co-Chair, Fundraising Task Force JesseMoore CEO,M-Kopa Nairobi,Kenya AnoukHilti-Zingg Madiro Switzerland Lead, Founding and Managing Partner, Assarée Alka Chaudhary Manager of finance and operations GerhardPries Founder&Chair, Sarona Partners & co-investors 11 How we measure impact A framework to track health outcomes across the entire healthcare value chain 12 STAKEHOLDER Healthcare facility Level 1 Health worker Level 2 Patient or customer Level 3 Household Level 4 Making healthcare facilities more efficient, affordable, and accessible Supporting health workers to improve accessibility and quality of their services Improved access, affordability, and quality of health-improving services and products Entire household benefits from improved health outcomes of a family member Number of healthcare facilities services Number of health workers supported Number of jobs created Number of patients or customers services Level 3 multiplied by (1+ country fertility rate/ or average size of household where data is available) THEORY OF CHANGE KEY PERFORMANCE INDICATORS JAMES FRASER President & CEO –Madiro +1 647 760 0282 james.fraser@madiro.org Toronto, Canada SHARON BATAMURIZA Fund Manager +250 788 310 056 sharon.batamuriza@madiro.org Kigali, Rwanda Contact us Our target investment criteria IDEA COMPANY LEADERSHIP EXECUTION STAGE GEOGRAPHY FINANCIALS -Experiencedteamwithprovenabilitytoexecute -Meaningfulownershipbymanagement -Leadershipcommitmenttobalancedgender representationasperthe2Xchallenge -Impactdriven -DefendableUniqueSellingPropositionwith believableproduct/marketfit -Ontracktostronguniteconomicsalongapath toscale -Pre-Seed(inexceptionalcases),Seed,SeriesA -SeriesBfollow-on -SignificantoperatingpresenceinAfrica.Initial focusmarketsincludeNigeria,Ghana,Kenya, Uganda,Rwanda,SouthAfrica -Clearandquantifiablepathtoscaling operationsandimpact -Teamhashistoricallyeffectiveoperations experiencedemonstratingtheabilitytoexecute -Pre-seed&medicaldevices:pre-revenue -Seed&SeriesA:revenue-generating;devices withaclearpathtoprofitability -Sounduniteconomics/marginpotential MARKET & CONSUMER COMPETITION/ SUBSTITUTION INVESTMENT STRUCTURE ORGANIZATION REGULATORY & LEGAL TARGET CHECK SIZE -Canbeidentifiedasapotentialleaderinthe definedmarket -Sustainabledifferentiation -DefensibleIPwhereappropriate -Proofofcustomeradoptionand/ormarket receptivity -Sizeablepotentialmarket -Corporatestructureinplace -Definedandestablishedlegal®ulatory environment -Alignedshareholdercaptable -Equity,debt,convertiblenote,revenue-based, equity-linked -InitialinvestmentfromUS$100kto$500k 13 MadirohaspartneredwithMSFtoleadthe developmentofOpenMRSv.3modulesfor frontlinemedicalprogramsinhumanitarian settings.OpenMRSisadigitalpublicgood. Impact: First implementation to begun in Q4-24 in a 300-bed maternity hospital in Mosul, Iraq. Leveragingtechnology-enabledcommunity-based careandsupplychaininamicro-franchisemodel toprovideremotecommunitieswithhealth products,improvedaccesstohealthcare,and betterlivelihoods. Anoff-grid,blockchain-inspiredplatformdesigned todigitizeandconnectruralandremotehealth facilities—unlockingbottom-of-the-pyramidmarkets forsoftwareenterprises. Impact:Over5millionpeoplereachedand 11,600+jobscreated Impact: Over 192,000 people reached since Madiro’s investment Impact investment portfolio 11 BenaCareaimstoalleviatetheeconomicand emotionaleffectsoflong-termhospitalstaysfor chronicallyillpatientsviaaatechnology-enabled networkofnursesandphysicaltherapists. Impact: 14,700+ patients served and 7,500+ jobs created for women Impact:by2027goalof1millionglassessales annually. Impact investment portfolio Impact: 100% safe deliveries for pregnant mothers who have used Malaica’s services. Radicallycheaperandsimplervisioncorrectionfor the1B+peopleinneedglobally.Micro-franchise opportunitytosellspectaclesproviding“good- enough”vision. End-to-endmaternalcare,combiningonlineandin- personservices.Theirplatformpersonalizescare withAI,creatingKenya’slargestpregnancy communityandreducingcostsby30%. 12 CLIMATE-RELATED HEALTH IMPACTS Risingtemperaturescontributetomoreheat-relatedillnesses,expandthe rangeofdisease-carryinginsects,andextendtheseasonsofdiseaseslike malariaanddenguefever.Floodingdisruptsaccesstocleandrinkingwater andsanitation,heighteningtheriskofwaterbornediseasessuchascholera. Droughtandshiftingprecipitationpatternsdestabilizeagriculture,intensify foodinsecurityandmalnutrition,anddrivepopulationdisplacement, worseningrelatedhealthcrises. 6 Complex and Rapidly Accelerating challenges Driving our Investment Thesis These factors highlight the urgent need to leverage innovation for more efficient and effective healthcare, protecting the health of African populations in a changing climate. 7 RURAL, REMOTE & PERI-URBAN Residentsofrural,remote,andperi-urbanareasfrequentlyfacesubstantial barrierstoqualityhealthcare,suchlackofproperinfrastructure,under resourcedfacilities,andalackofessentialmedicines,leadingtodelayedor substandardmedicalcare.Malnutritionismoreprevalentduetolimited accesstodiverseandnutritiousfoods.Theabsenceofeducationaland economicopportunitiesalsocontributestolowerhealthliteracyand reducedaccesstopreventativehealthcareservices. As a result, residents in rural and remote areas of Africa often have greater health disparities and a higher burden of preventable diseases compared to their urban counterparts.