When MStudio launched in 2023, its ambition was to close the gap between Francophone and Anglophone Africa’s startup ecosystems.
The studio, headquartered in Abidjan, Côte d’Ivoire, set out to replicate proven business models from Nigeria and other Anglophone markets while tailoring them to Francophone realities.
According to MStudio, it bets that a venture studio model, with its hands-on support and co-founder approach, can prepare local startups for international investors.
“We felt the venture studio model was the most appropriate because it’s hands-on and high-level, compared to incubators or accelerators, which are short-term and more about mentorship,” COO Leslie Ossete explained to TechCabal.
Inside MStudio’s Investment Model
MStudio positions itself as a venture studio with a structured approach to early-stage funding. Each startup that passes through its program receives an in-kind investment worth €500,000 ($588,000), covering resources such as technical expertise, product development, and operational support.
In return, the studio takes a 25% equity stake, on the lower end of the 20–40% range common among global startup studios.
To complement this, MStudio co-invests through its dedicated fund, which injects €250,000 ($294,000) in cash for a 12.5% equity stake. In total, a startup leaves the program with €750,000 in pre-seed backing for 32.5% equity split between the studio and its fund.
MStudio says startups are expected to validate their ideas during a three-month Entrepreneur-in-Residence phase, supported by €15,000 in testing capital. By the end of this period, they must demonstrate a minimum viable product and early traction to secure the full pre-seed round.
According to MStudio, this standardised model accelerates timelines, enabling founders to raise significant capital in just three months.
So far, the strategy is paying off. MStudio says it has been behind roughly 70% of early-stage startup deals in Côte d’Ivoire over the past two years, positioning it as a leading pipeline for international investors curious about Francophone Africa.
How it Chooses Founders
MStudio has developed a clear philosophy around the kinds of founders it brings into its venture-building program. At the core is the idea of pairing one local entrepreneur with one from the diaspora or international community.
The studio believes this “complementary pair” model blends the best of both worlds: local co-founders bring deep market knowledge and operational expertise, while diaspora partners often possess the fundraising acumen and global investor networks needed to scale.
Beyond the pairing, MStudio favours repeat entrepreneurs; those who have launched a startup before, whether they exited successfully or failed but are eager to try again. The studio also targets seasoned operators such as former product managers, engineering leads, or growth executives from high-growth startups.
Finally, there is room for what MStudio calls “high-potential students”: ambitious, often diaspora-based individuals with strong academic or consulting backgrounds, who are young, less risk-averse, and willing to return from cities like Paris or London to build in Africa.
The studio sources these founders through a mix of outreach, partnerships with universities and entrepreneurial networks, and direct engagement via LinkedIn.
Understanding MStudio’s Model
Beyond funding, MStudio has built a 14-person multidisciplinary team offering expertise in growth, UI/UX, finance, and legal support.
Startups gain access to a proprietary playbook of 100+ operational tasks, AI-driven automation tools, and a growing network of over 50 venture capital firms.
The studio also nurtures partnerships with corporates, universities, and government, recognising that startups cannot scale in isolation.
“We believe startups cannot fight alone,” Leslie said. “So MStudio is positioning itself as a trusted partner for VCs that mostly know Anglophone Africa but are intrigued by Francophone Africa and want to start investing, with qualified deal flow.”
By acting as both builder and connector, industry leaders say MStudio is shaping Francophone Africa’s ecosystem in ways traditional accelerators cannot.
What This Means
According to experts, MStudio’s rise could be a turning point for Francophone Africa’s underfunded startup ecosystem.
Industry leaders noted that, for years, global investors focused on Nigeria, Kenya, South Africa, and Egypt, while largely overlooking French-speaking markets due to structural barriers. Observers say MStudio is tackling this head-on.
By validating models early and embedding global practices, the studio is creating a more predictable deal flow for foreign investors.
Several analysts believe this model could also serve as a blueprint for other underserved African regions, proving that innovation is not confined to the Big Four.
Talking Points
At Techparley, we see MStudio’s venture studio model as a bold attempt to rebalance Africa’s innovation map, bringing much-needed structure and capital to Francophone markets.
Its €750,000 pre-seed package, split between in-kind support and cash, sets a strong foundation for founders, giving them resources and liquidity at a stage where most startups struggle.
We are particularly struck by the complementary founder model, which pairs diaspora entrepreneurs with local operators. This blend of global fundraising experience and local market knowledge addresses a long-standing gap in early-stage teams.
We believe MStudio’s push to standardise incorporation, cap tables, and investment readiness could reshape perceptions of Francophone Africa, making the region more attractive to global VCs.
With its strong network, operational depth, and growing track record, MStudio is emerging as more than just a venture builder, it could be the bridge that finally brings sustained international capital into Francophone Africa’s startup ecosystem.
