Magnify launches $46M fund aimed at ‘the care economy’

Magnify Ventures is betting that the next wave of AI innovation will transform care as well as business. The venture firm has launched a new $46.6 million fund to invest in startups building AI infrastructure for the care economy, targeting solutions in women's health, caregiving, aging, family finances and household management. The focus is on technologies that reduce the often- invisible labor that keeps families and communities running. The fund is backed by returning investor Pivotal Ventures, founded by Melinda French Gates, along with new investors. Magnify notes that venture interest in the care economy is up 45% the past four years, with $26 billion invested in more than 700 companies since 2015.