Magnify Ventures secured $46.6 million for its second fund on July 2, 2026. Pivotal Ventures, the venture firm founded by Melinda French Gates, participated as a limited partner in this fund.

Magnify Ventures was established in 2021 by Joanna Drake and Julie Wroblewski. The firm focuses its investments on companies within the care economy. Pivotal Ventures also anchored Magnify Ventures' initial fund, which raised $52 million in 2022.

The firm invests across various sectors of the care economy, including assistive robotics, family cybersecurity, and artificial intelligence applications for home use. Magnify Ventures has stated that its second fund will target companies developing AI tools for households, health and home systems, and fintech infrastructure designed for families.

Magnify Ventures' portfolio includes investments in the childcare startup Kinside and the children's expense management startup Till Financial. Pivotal Ventures was also an investor in Till Financial. Both firms invested in the caregiving startup Papa. Additionally, Pivotal Ventures has backed Seen Health. Pivotal Ventures generally operates as both a general partner and a limited partner in its investment activities and supports companies that build within the care economy.

Why It Matters

The successful fundraising for Magnify Ventures' second fund, with continued support from Pivotal Ventures, indicates ongoing investment interest in the care economy sector. The involvement of Melinda French Gates' firm as a limited partner in both of Magnify Ventures' funds suggests a sustained focus on this area. Magnify Ventures' stated investment targets for its new fund, which include AI tools for households and fintech infrastructure for families, outline specific growth directions within the broader care economy.