Magnify Ventures, the early-stage venture firm focused on transforming the care economy, has closed Fund II at $46.6 million. The fund is backed by returning investor Pivotal Ventures (Melinda French Gates’ organization), alongside new investors Jordan Park and Unum, with financing from California’s Infrastructure and Economic Development Bank (IBank).
Fund II will invest in AI infrastructure companies across health, wealth, and family care – targeting what Magnify sees as an inflection point in markets that have been stagnant for decades. The firm will back founders building applied AI that reduces the invisible labor of running a household, agentic tools that improve quality and reduce cost across health and home systems, fintech infrastructure modernizing how families build and protect wealth, and healthcare, home, and workplace infrastructure designed for the modern family.
“We’re at a real inflection point in some of the world’s largest, most underleveraged markets: care, wealth, aging, and the broader health, consumer and financial systems that shape family life,” said co-founder and managing partner Julie Wroblewski. “With Fund II, we will back the founders defining the next era of the care economy, aging and longevity, and women’s health.”
The care economy has gained meaningful venture traction since Magnify launched Fund I. Venture interest in the category has accelerated by 45% over the past four years, with more than $26 billion invested in over 700 companies since 2015, according to The Holding Co. in partnership with Pivotal Ventures. The $648 billion market opportunity spans from pregnancy through end-of-life caregiving, and into the healthcare, financial, and consumer systems that surround families.
“Magnify’s investment in the care economy is an investment in one of society’s most pressing issues: family health and well-being,” said Erin Harkless Moore, managing director of investments at Pivotal Ventures. “Joanna and Julie understood this early on and had the conviction to take on a sector that has long been under-resourced. They saw that investing in caregiving benefits not only women and families, but also the broader economy.”
Magnify’s portfolio from Fund I includes companies across parenting, aging, household optimization, and financial resilience. The firm also produces the Care Summit, which will return to San Francisco in February 2027.
