FUNDING
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FUNDING$46.6M Fund II
Melinda Gates' Pivotal Ventures Backs Magnify Ventures' $46.6M Fund II
Magnify Ventures, the care-economy-focused firm founded by Joanna Drake and Julie Wroblewski, closed a $46.6 million Fund II with Melinda French Gates' Pivotal Ventures as an anchor LP, following Pivotal's similar anchor role in the firm's $52 million Fund I.
FUNDING
Melinda Gates' Pivotal Ventures Backs Magnify Ventures' $46.6M Fund II for the Care Economy
FUNDING$46.6M Fund II
Melinda Gates' Pivotal Ventures Backs Magnify Ventures' $46.6M Fund II for the Care Economy
Pivotal Ventures, Melinda French Gates' investment firm, anchored Magnify Ventures' second fund, which closed at $46.6 million on July 2 to back AI tools for households, health and home systems, and fintech infrastructure for families. Magnify, founded by Joanna Drake and Julie Wroblewski in 2021, previously raised a $52 million Fund I in 2022 also anchored by Pivotal Ventures, and counts childcare platform Kinside and children's expense app Till Financial among its portfolio.