LOS ANGELES — July 1, 2026
Executive Summary
Magnify Ventures has launched Fund II, closing $46.6 million to invest in AI-driven infrastructure supporting the evolving care economy. Backed by Pivotal Ventures alongside new and returning institutional investors, the fund will target early-stage companies developing technologies for health, wealth, family care, aging, women’s health, and supporting systems. The initiative reflects the firm’s continued investment strategy focused on building modern infrastructure that improves how families access, manage, and benefit from essential care services.
Announcement Overview
Magnify Ventures announced the close of Fund II with $46.6 million, expanding its investment platform for founders developing artificial intelligence technologies across the care economy. The fund will prioritize companies creating AI-powered infrastructure supporting healthcare, financial services, caregiving, household management, and family well-being. Backed by a combination of institutional investors, foundations, family offices, and strategic partners, Fund II also reinforces Magnify Ventures’ broader objective of supporting entrepreneurs building long-term technology infrastructure for modern family life.
Key Announcement Details
- Announcement Type: Venture capital fund launch
- Fund: Fund II
- Fund Size: $46.6 million closed
- Company: Magnify Ventures
- Focus: Early-stage venture capital investments in AI infrastructure for the care economy
- Primary Investment Areas: Health care, wealth management, family care, caregiving, aging and longevity, women’s health, healthcare infrastructure, financial infrastructure, consumer systems, home infrastructure and workplace infrastructure
- Technology Focus: Artificial intelligence (AI), applied AI, agentic AI, AI-powered infrastructure and fintech infrastructure
- Lead Returning LP: Pivotal Ventures (a Melinda French Gates organization)
- New Investors: Jordan Park and Unum
- Additional Financing: California Infrastructure and Economic Development Bank (IBank)
- Additional Backers: Leading foundations, funds of funds, family offices and business leaders
- Investment Strategy: Back category-defining AI companies modernizing fragmented care systems and supporting families
- Core Investment Thesis: Build AI infrastructure replacing fragmented care systems across health, wealth and family care
- Target Founders: Early-stage entrepreneurs developing AI-powered technologies for modern family infrastructure
- Key AI Applications: Cash flow and wealth infrastructure, household management, health systems, home systems and family support technologies
- Strategic Objective: Expand the AI-native infrastructure underpinning the modern care economy
- Industry Focus: Care economy, healthcare, financial services, consumer technology and family infrastructure
- Market Data Cited: Venture investment in the care economy has increased 45% over the past four years, with more than $26 billion invested across 700+ companies since 2015
- Ecosystem Initiative: Magnify Ventures is the founding producer of the Care Summit
- Upcoming Event: Care Summit scheduled for February 2, 2027, in San Francisco
- Headquarters: Los Angeles, California
Magnify Ventures Closes Fund II
Magnify Ventures announced the successful closing of Fund II with $46.6 million committed capital.
According to the firm, the new fund will support early-stage businesses developing artificial intelligence technologies serving multiple areas of the care economy.
Fund II is intended to invest in companies operating across:
- Health care
- Family care
- Wealth management
- Care infrastructure
- Artificial intelligence platforms
- Supporting financial and consumer systems
The firm stated that the latest fund continues its long-term investment strategy centered on technology transforming how individuals, families, employers and institutions interact with essential care services.
Fund II Investor Base
Magnify Ventures stated that Fund II is supported by a diversified group of institutional and strategic investors.
The investor base includes:
- Pivotal Ventures
- Jordan Park
- Unum
- California Infrastructure and Economic Development Bank (IBank) financing
- Leading foundations
- Funds of funds
- Family offices
- Business leaders
According to the announcement, Pivotal Ventures, a Melinda French Gates organization, returned as an investor in the firm’s second fund.
Leadership Perspective
Erin Harkless Moore, Managing Director of Investments at Pivotal Ventures, said the firm’s investment reflects continued confidence in Magnify Ventures’ long-term vision for the care economy.
“Magnify’s investment in the care economy is an investment in one of society’s most pressing issues.”
She also described the sector as a significant long-term opportunity and highlighted the firm’s early conviction in an area that had historically received limited investment attention.
A Once-Overlooked Market Gains Momentum
Magnify Ventures stated that it launched Fund I with the view that the care economy represented a large but underserved investment opportunity capable of benefiting from emerging technologies.
Since establishing its first fund, the firm reports building a portfolio spanning several segments, including:
- Parenting
- Healthy aging
- Household optimization
- Financial resilience
According to the announcement, Magnify has also expanded its network of founders, operators and investors participating in the broader care economy ecosystem.
Industry data referenced by the company indicates:
- Venture investment in the care economy has increased by 45% during the past four years.
- More than $26 billion has been invested in over 700 companies since 2015, based on research cited from The Holding Co. in partnership with Pivotal Ventures.
The firm stated that its investment activity spans the continuum of care, beginning with pregnancy and extending through end-of-life caregiving, while also supporting surrounding healthcare, financial and consumer systems that affect families.
California IBank Supports Fund II
The announcement noted participation from the California Infrastructure and Economic Development Bank (IBank).
Andy Nakahata, Executive Director of California IBank, stated that the organization’s Venture Capital Program supports innovative entrepreneurs and emerging investment funds contributing to California’s future economy.
“The care economy represents a compelling opportunity for innovation and growth.”
According to the announcement, IBank believes technologies supporting families, caregivers and communities can contribute to economic development while modernizing important infrastructure.
Investment Strategy for Fund II
Magnify Ventures stated that Fund II will focus on founders applying artificial intelligence to practical challenges affecting families and care systems.
Investment priorities include:
- AI reducing household administrative workloads
- Agentic AI tools supporting health and home systems
- Technologies improving quality while reducing operational costs
- Financial technology infrastructure supporting family wealth
- Healthcare infrastructure
- Home infrastructure
- Workplace technologies serving modern families
The firm stated that these investments represent a progression beyond early category platforms toward applied artificial intelligence capable of supporting everyday family and care experiences.
AI Infrastructure Across the Care Economy
According to Magnify Ventures, artificial intelligence presents new opportunities across sectors that have historically experienced slower technological transformation.
Areas highlighted by the firm include:
- Care economy
- Women’s health
- Healthy aging and longevity
- Healthcare systems
- Financial systems
- Consumer technologies supporting families
Julie Wroblewski, Co-Founder and Managing Partner of Magnify Ventures, said the firm sees AI as enabling new opportunities across large markets connected to family life.
“AI is the key to unlocking new opportunities.”
She added that Fund II is intended to support founders shaping the next generation of technologies across care, longevity and women’s health.
Care Summit
Magnify Ventures stated that supporting founders extends beyond capital investment.
The firm is the founding producer of the Care Summit, an event bringing together:
- Founders
- Investors
- Limited partners
- Leaders across the care economy
According to the announcement, the next Care Summit is scheduled to return to San Francisco on February 2, 2027.
Founder Perspectives
The announcement included perspectives from founders within Magnify Ventures’ portfolio.
Alix
Alexandra Mysoor, Co-Founder and CEO of Alix, described estate settlement as a time-intensive process for families and said the company is applying artificial intelligence to simplify administrative, financial and practical responsibilities while supporting one of the largest intergenerational wealth transfers in history.
Joy Parenting Club
Alan Charming Chan, Co-Founder and CEO of Joy Parenting Club, stated that the company is using artificial intelligence to bring expert guidance, personalized support and essential parenting resources into a unified experience for families.
Savi Security
Patrick Coughlin, Co-Founder and CEO of Savi Security, explained that the company is developing technology intended to help protect families from digital fraud while benefiting from Magnify Ventures’ sector knowledge and industry network.
About Magnify Ventures
Magnify Ventures is a venture capital firm investing in companies operating at the intersection of care, technology and infrastructure. Founded by Julie Wroblewski and Joanna Drake, the firm focuses on businesses developing technologies supporting families, caregivers and the broader care economy. Magnify Ventures is backed by Pivotal Ventures together with foundations, funds of funds, family offices and business leaders, and invests in category-defining companies building long-term infrastructure for care-focused innovation.
Media Contact
For additional information, visit magnify.vc.
Source Attribution
Source: Company announcement
