Magnify Ventures announced the launch of Fund II with $46.6 million closed. The early-stage venture capital firm will use the fund to invest in category-defining technology companies driving AI innovation across health, wealth, family care, and the systems that support them.
Fund II is backed by returning investor Pivotal Ventures, a Melinda French Gates organization. The fund also includes new investors Jordan Park and Unum, financing from California Infrastructure and Economic Development Bank, and support from foundations, funds of funds, family offices, and business leaders.
Magnify Ventures launched its first fund around the thesis that the care economy was under-built, underinvested, and positioned to become a broad investable ecosystem. Over the past four years, the firm has built a portfolio across parenting, aging, household optimization, and financial resilience.
The firm said venture interest in the care economy has accelerated by 45% over the past four years. According to The Holding Co. in partnership with Pivotal Ventures, more than $26 billion has been invested in over 700 care economy companies since 2015.
Magnify invests across the traditional care economy, from pregnancy through end-of-life caregiving solutions. The firm also invests in healthcare, financial, and consumer systems that surround families.
With Fund II, Magnify plans to back founders building applied AI tools that improve how people live, work, and care for one another. This includes AI that reduces the invisible labor of running a household, agentic tools that improve quality and reduce costs across health and home systems, and fintech infrastructure that modernizes how families build and protect wealth.
Magnify will also invest in founders building healthcare, home, and workplace infrastructure for the modern family. The firm said AI is creating new opportunities in care, wealth, aging, women’s health, and the broader health, consumer, and financial systems that shape family life.
Magnify Ventures is also the founding producer of the Care Summit, which brings together founders, investors, and limited partners across the care economy. The next Care Summit is scheduled to return to San Francisco on February 2, 2027.
Magnify Ventures was founded by Julie Wroblewski and Joanna Drake. The firm invests in companies at the intersection of care, technology, and infrastructure.
KEY QUOTES:
“Magnify’s investment in the care economy is an investment in one of society’s most pressing issues: family health and well-being. Joanna and Julie understood this early on and had the conviction to take on a sector that has long been under-resourced, despite being a $648 billion market opportunity. They saw that investing in caregiving benefits not only women and families, but also the broader economy. I can’t imagine a stronger team to carry this vision forward.”
Erin Harkless Moore, Managing Director of Investments at Pivotal Ventures
“IBank’s Venture Capital Program was created to expand access to capital for innovative entrepreneurs and emerging funds driving California’s future economy. Magnify Ventures is identifying founders who are tackling some of the most significant challenges facing families, caregivers, and communities as essential participants in the care economy. As artificial intelligence reshapes industries, the care economy represents a compelling opportunity for innovation and growth. We are excited to support Fund II and the founders developing technologies that will modernize critical infrastructure, create jobs, and provide meaningful benefits to families.”
Andy Nakahata, Executive Director of California IBank
“We’re at a real inflection point in some of the world’s largest, most under leveraged markets: care, wealth, aging, and the broader health, consumer and financial systems that shape family life. AI is the key to unlocking new opportunities in markets that have been stagnant for decades, inspiring innovative companies to create generational change. With Fund II, we will back the founders defining the next era of the care economy, aging and longevity, and women’s health.”
Julie Wroblewski, Co-Founder and Managing Partner of Magnify Ventures
“For most families, settling an estate means navigating hundreds of hours of practical, financial, and administrative work during one of life’s hardest moments. Today, the process takes an average of 900 hours and 18 months to complete. As more than $120 trillion transfers across generations in the largest wealth transfer in history, Alix is applying AI to simplify estate settlement and help families navigate this transition more efficiently. Magnify recognized the scale of that opportunity early on, and their belief in us from day one has been invaluable to our growth.”
Alexandra Mysoor, Co-Founder and CEO of Alix
“Joy is built on a simple belief: Every parent deserves access to the kind of expert guidance and support that was once available only to a fortunate few. For the first time, AI makes it possible to bring a family’s trusted experts, personalized guidance and essential resources together in one place, replacing the fragmented experience of juggling dozens of apps, websites and services. Magnify understood that vision because of their depth of knowledge in care, and their network and category expertise have helped us grow.”
Alan Charming Chan, Co-Founder and CEO of Joy Parenting Club
“Savi Security is building a seamless protection platform for families at a time when digital fraud is not just the fastest-growing crime in the country, but also the most financially damaging, costing Americans over $100 billion annually. Magnify’s unique domain expertise in families’ health and financial well-being has brought immediate market insights and an invaluable partner ecosystem to accelerate company growth.”
Patrick Coughlin, Co-Founder and CEO of Savi Security
