Magnify Ventures, a Los Angeles, CA- and San Francisco, CA-based early-stage venture capital firm investing in founders leading the digital transformation of how we live, work and care for one another, closed its first fund, at $52m.
Magnify Ventures’ debut fund is anchored by Pivotal Ventures, a Melinda French Gates company, and includes limited partners from leading foundations, funds of funds, family offices and visionary business leaders.
Led by Joanna Drake and Julie Wroblewski, Co-Founders & Managing Partners, Magnify Ventures will invest in early-stage technology companies that are revolutionizing the $648 billion care economy in four growing categories, including:
- parenting and family life,
- the future of work,
- household optimization, and
- aging and longevity.
As an early-stage investor, the firm supports founders across all aspects of company-building from customer acquisition, operations, brand and marketing strategy, to talent recruitment and sales. Magnify Ventures also leverages an expert advisory network and unique partnerships with leading organizations with common care economy interests, including The Holding Co, the Employee Health Innovation Roundtable (EHIR), AARP and UCSF Rosenman Institute.
The fund already includes seven portfolio companies: Cocoon, Element3 Health, Milo, MiSalud, Papa, Seven Starling and Till Financial.
Wroblewski previously launched and led Pivotal Ventures’ venture capital investment portfolio and strategy, and spent over a decade as an advisor and investor with institutional-scale foundations and mission-oriented firms. Drake is a serial media tech entrepreneur, venture capital veteran with Core Ventures Group, and co-founder of venture community and conference for emerging fund managers, RAISE Global.
FinSMEs
04/05/2022