Press Release

Magnify Ventures Debuts $52 Million Fund for Care Economy

May 5, 2022

Palo Alto – May 5, 2022 – Cooley advised Magnify Ventures, an early-stage venture capital firm investing in visionary founders leading the digital transformation of how people live, work and care for one another, on the debut of its $52 million fund. Lawyers John Dado, Elizabeth Reese and Molly Kirwan led the Cooley team advising Magnify Ventures.

Magnify Ventures’ debut fund is anchored by Pivotal Ventures, a Melinda French Gates company, and includes world-class limited partners. With the new capital, the firm will invest in early-stage technology companies that are revolutionizing the $648 billion care economy in four growing categories: parenting and family life, the future of work, household optimization, and aging and longevity.

“Technology is transforming every aspect of the care economy – from pregnancy to parenting to aging. As a result, we’re seeing a wave of entrepreneurs, inspired by lived experiences, building massive businesses to address these needs,” Julie Wroblewski, co-founder and managing partner of Magnify Ventures, said in a press release.

We founded Magnify Ventures to unleash solutions that will help families not just survive, but thrive,” Joanna Drake, co-founder and managing partner of Magnify Ventures, said in the same press release.

Headquartered in Los Angeles and San Francisco, Magnify Ventures already includes seven portfolio companies, and supports founders across all aspects of company-building – from customer acquisition, operations, and brand and marketing strategy to talent recruitment and sales. The firm also leverages an expert advisory network and unique partnerships with leading organizations that share interests in the care economy.

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