Magnify Ventures just closed a $46.6 million Fund II. Among its LPs: Melinda French Gates’ Pivotal Ventures.
The early-stage firm was founded in 2021 by Joanna Drake and Julie Wroblewski. They focus on what they call the “care economy” — startups building assistive robotics, family cybersecurity, and AI tools for the home.
Fund II plans to invest in AI for households, health and home systems, and fintech infrastructure aimed at families. It’s a targeted bet, not a spray-and-pray approach.
Magnify’s first fund raised $52 million in 2022, also anchored by Pivotal Ventures. Portfolio companies include childcare platform Kinside and Till Financial, a kids’ expense management app. Pivotal Ventures tends to play both GP and LP roles in the care economy space, with investments in caregiving startups like Papa and Seen Health.
