Magnify Ventures has successfully closed its second fund, raising $46.6 million to target early-stage companies operating within the care economy. The raise was anchored by Pivotal Ventures, the impact investing arm of Melinda French Gates, which will participate as both a limited and general partner. Founded in 2021 by Joanna Drake and Julie Wroblewski, Magnify Ventures specializes in backing innovators developing solutions for caregiving, assistive technology, family cybersecurity, and domestic artificial intelligence. The newly capitalized fund will direct capital toward startups engineering AI applications for household management, integrated health and home automation systems, and financial technology infrastructure tailored to family needs. This strategic focus builds upon the firm's established thesis of modernizing eldercare, childcare, and domestic support through technology. The latest commitment follows Magnify's initial $52 million Fund I in 2022, which Pivotal Ventures similarly anchored. Since its inception, Magnify has deployed capital across a curated portfolio including Kinside, a childcare marketplace, and Till Financial, which provides expense management tools for parents. Pivotal Ventures maintains a parallel investment pipeline in the broader care ecosystem, supporting ventures such as Papa, an intergenerational caregiving platform, and Seen Health, a chronic care management startup. Both firms have historically crossed paths, co-investing in multiple portfolio companies to accelerate growth and operational scale. By consolidating resources for Fund II, Magnify Ventures signals a continued commitment to scaling foundational technologies that address demographic shifts and the growing demand for home-based care solutions. The deployment of this capital is expected to advance AI-driven domestic tools and family-centric fintech platforms, positioning the firm to capture emerging opportunities as traditional care models increasingly rely on software-driven efficiency and remote monitoring capabilities.