Melinda Gates’ venture firm backs Magnify Ventures’ $46.6M Fund II - BERITAJA

Early-stage patient Magnify Ventures has raised $46.6 cardinal for its 2nd fund from LPs including Melinda French Gates’ Pivotal Ventures.

Founded successful 2021 by Joanna Drake and Julie Wroblewski, Magnify invests successful companies that target the attraction economy, specified arsenic those building assistive robotics, family cybersecurity, and AI for location use. 

The patient said Fund II will put successful companies that build AI devices for households, wellness and location systems, and fintech infrastructure for families.

The task patient past raised a $52 cardinal Fund I successful 2022 (Pivotal Ventures anchored that fund), and has backed child attraction startup Kinside and children’s disbursal guidance startup Till Financial (in which Pivotal Ventures was besides an investor).

Pivotal Ventures mostly acts arsenic a GP and LP, backing companies building successful the attraction economy. Its investments see caregiving startups Papa (in which Magnify Ventures was besides an investor) and Seen Health.