Melinda Gates' venture firm, Pivotal Ventures, has backed Magnify Ventures' $46.6 million Fund II. Magnify Ventures, founded in 2021, invests in companies targeting the care economy, such as assistive robotics and family cybersecurity.
The firm's second fund will focus on AI tools for households, health and home systems, and fintech infrastructure for families.
Pivotal Ventures, which acts as a GP and LP, has invested in several caregiving startups, including Papa and Seen Health, and has previously anchored Magnify Ventures' $52 million Fund I in 2022.
