Magnify Ventures closed $46.6 million for Fund II, targeting AI-powered companies transforming fragmented care, wealth,
Magnify Ventures, an early-stage venture capital firm focused on the care economy, announced July 1, 2026 the launch of Fund II with $46.6 million in commitments. The fund will invest in category-defining technology companies driving innovation and AI adoption in health, wealth and family care, as well as the systems supporting them. The fund is backed by returning investor Pivotal Ventures, a Melinda French Gates organization, alongside new investors Jordan Park and Unum, financing from California Infrastructure and Economic Development Bank, leading foundations, funds of funds, family offices and business leaders.
Erin Harkless Moore, managing director of Investments at Pivotal Ventures, said the care economy represents one of society's most pressing challenges. She noted that Magnify's founders, Joanna and Julie, recognized early that the care sector, despite being a $648 billion market opportunity, had long been under-resourced. She emphasized that investing in caregiving benefits not only women and families but the broader economy as well.
Over the past four years, Magnify Ventures has built a portfolio of companies across parenting, aging, household optimization and financial resilience while building a community of founders, operators and investors around the opportunity. Venture interest in the care economy has accelerated by 45 percent in the last four years, with more than $26 billion invested in over 700 companies since 2015, according to The Holding Co. in partnership with Pivotal Ventures. Magnify invests across the full care economy from pregnancy through end-of-life caregiving solutions and into the healthcare, financial and consumer systems surrounding families.
With Fund II, Magnify Ventures will invest in founders developing applied AI that directly improves how people live, work and care for one another. This includes AI that reduces the invisible labor of household management, agentic tools that improve quality and reduce costs in health and home systems, and fintech infrastructure that modernizes how families build and protect wealth. The firm will also support founders building healthcare, home and workplace infrastructure designed for modern families.
Julie Wroblewski, co-founder and managing partner of Magnify Ventures, said the firm is at an inflection point in some of the world's largest and most under-leveraged markets: care, wealth, aging and the broader health, consumer and financial systems shaping family life. She stated that AI is the key to unlocking new opportunities in markets that have been stagnant for decades, inspiring innovative companies to create generational change.
Magnify Ventures is the founding producer of the Care Summit, which brings together founders, investors and LPs across the care economy. The Care Summit will return to San Francisco on February 2, 2027.
Portfolio company leaders spoke to Magnify's impact. Alexandra Mysoor, CEO of Alix, noted that settling an estate typically requires 900 hours over 18 months, and with over $120 trillion transferring across generations in history's largest wealth transfer, Alix is using AI to simplify this process. Alan Charming Chan, CEO of Joy Parenting Club, said the company brings expert guidance and personalized resources to parents, replacing fragmented experiences of juggling dozens of apps. Patrick Coughlin, CEO of Savi Security, stated the platform protects families from digital fraud, which costs Americans over $100 billion annually.