Investor Lists

Investors based in Madagascar

Updated 7 November 2026

Firms headquartered in Madagascar, ordered by what we have observed them do rather than by what they claim to invest in. Where a firm sits is not where it invests; for that, see investors in Madagascar.

See all 11 →The top 11
11investors on the listNo change this week
0cheques in 12 monthsToo few cheques to tell
$4Mmedian round they joined-50% against the market median
0%wrote a cheque in 12 months
0%have led a round

The Top 11

Ordered by cheques observed, never by anything anyone paid for

  1. 1Axian GroupquietVC firm · Madagascar4$4Mmedian roundOct 2025last seen
  2. 2Fonds Souverain MalagasyunknownInvestment firm · Madagascarnone observed-median round-last seen
  3. 3JHA FundunknownInvestment firm · Madagascarnone observed-median round-last seen
  4. 4Jaca IncubatorunknownIncubator · Madagascarnone observed-median round-last seen
  5. 5Madagascar Development Fund (MDF)unknownInvestment firm · Madagascarnone observed-median round-last seen
  6. 6Madagascar Protected Areas and Biodiversity FundunknownInvestment firm · Madagascarnone observed-median round-last seen
  7. 7MiarakapunknownAccelerator · Madagascarnone observed-median round-last seen
  8. 8SOLIDISunknownInvestment firm · Madagascarnone observed-median round-last seen
  9. 9SONAPARunknownPrivate equity · Madagascarnone observed-median round-last seen
  10. 10YARA INVESTunknownInvestment firm · Madagascarnone observed-median round-last seen
  11. 11ACIPE SAunknownFamily office · Madagascarnone observed-median round-last seen

Quick answers about investors based in Madagascar

Who are the most active investors based in Madagascar?

By cheques observed, the most active are Axian Group, Fonds Souverain Malagasy, JHA Fund, Jaca Incubator and Madagascar Development Fund (MDF).

How many investors based in Madagascar are there?

11 are on record. 0% made an investment in the last 12 months.

What have investors based in Madagascar invested in recently?

Recent rounds include Chari (Series A, Oct 2025, with Axian Group), Nucleon Security (Seed, Sept 2025, with Axian Group) and PayTic (Seed, Apr 2025, with Axian Group).

How is this list of investors based in Madagascar ranked?

By cheques observed, from the rounds and filings we watched, and never by anything anyone paid for. It is rebuilt every night.

Built from the rounds we watched, refreshed every night. How we count · Report a correction