Magnify Ventures Scores $46.6M for Care Economy Fund II
Early-stage firm Magnify Ventures has successfully closed its second fund with $46.6 million from leading investors including Melinda French Gates’ Pivotal Ventures.
Target Audience: Care Economy
Founded in 2021 by Joanna Drake and Julie Wroblewski, Magnify Ventures focuses on investing in companies that address the care economy, encompassing assistive robotics, family cybersecurity, and AI for home use.
Fund II Focus
Fund II will prioritize investments in AI tools for households, health and home systems, and fintech infrastructure specifically designed for families.
This latest fundraising follows Magnify Ventures’ $52 million Fund I secured in 2022, with notable investors including Pivotal Ventures. Notable portfolio companies include child care startup Kinside and children’s expense management startup Till Financial.
