Magnify Ventures

Profile

Magnify Ventures is an early-stage venture capital firm based in Santa Monica, California. Established in 2021 by co-founders Joanna Drake and Julie Wroblewski, the firm focuses on the care economy, utilizing technology to innovate in this space. The firm benefits from a small, agile team, including co-founders as Managing Partners and Marie Drez as Chief Financial Officer. They are known for their deep expertise in the care sector and building an ecosystem with initiatives such as RAISE Global and the Care Summit, which enhance deal flow and credibility in the sector.

Magnify Ventures invests in pre-seed and seed-stage companies that are building AI infrastructure for the care economy. Their focus areas include health, wealth, family care, AI for the home, assistive robotics, longevity, and aging-in-place technology. Check sizes typically range between $250K and $2M, with a geographic focus on the United States. The firm has raised two funds: Fund I with $52 million closed in 2022 and Fund II with $46.6 million, supported by key LPs like Pivotal Ventures, Jordan Park, and Unum.

Notable investments by Magnify Ventures include Papa - companionship and care for older adults, Alix - AI-powered estate settlement, MiSalud - digital health for Hispanic families, Nolia Health - insurance-covered family caregiver support, Quo Labs - AI caretakers for the elderly, and Savi Security - protection against AI-generated scams. Their strategic focus on AI as a transformative force in the care economy shapes their investment strategy and positions them as a key player in this developing market.