Magnify Ventures, an early-stage venture firm focused on transforming the care economy, has closed Fund II at $46.6 million. The fund is backed by returning investor Pivotal Ventures, alongside new investors Jordan Park and Unum, with financing from California’s Infrastructure and Economic Development Bank (IBank). Fund II will invest in AI infrastructure companies across health, wealth, and family care, targeting what Magnify sees as an inflection point in stagnant markets. The firm will back founders building applied AI that reduces the invisible labor of running a household, agentic tools improving quality and reducing cost across health and home systems, fintech infrastructure modernizing how families build wealth, and healthcare, home, and workplace infrastructure for the modern family. Venture interest in the care economy has accelerated by 45% over the past four years, with more than $26 billion invested in over 700 companies since 2015, according to The Holding Co. in partnership with Pivotal Ventures. The $648 billion market opportunity spans from pregnancy through end-of-life caregiving. Magnify’s portfolio from Fund I includes companies across parenting, aging, household optimization, and financial resilience. The firm also produces the Care Summit, which will return to San Francisco in February 2027.