Source: TechCrunch
Summary
Magnify Ventures, an early-stage firm, has raised $46.6 million for its Fund II. The investors include Melinda French Gates’ Pivotal Ventures. The fund will focus on investing in companies that address the needs of women and marginalized communities. Magnify Ventures plans to invest in 15-20 companies with this new fund. The firm’s previous investments include companies such as Ellevest and Winnie.
Our Reading
The announcement sounds ambitious.
Magnify Ventures raises $46.6 million for Fund II, with Melinda French Gates’ Pivotal Ventures on board. The fund will focus on investing in companies that address the needs of women and marginalized communities. Because what the world really needed was another fund promising to “empower” women and minorities. Magnify Ventures plans to invest in 15-20 companies, because that’s exactly what these communities were missing – more investment firms.
Author: Evan Null
Who’s Behind the Fund?
Magnify Ventures’ Fund II has received backing from Melinda French Gates’ Pivotal Ventures, among other LPs.
What’s the Focus?
The fund will focus on investing in companies that address the needs of women and marginalized communities.
How Much Will Be Invested?
Magnify Ventures plans to invest in 15-20 companies with this new fund.
Previous Investments
The firm’s previous investments include companies such as Ellevest and Winnie.
Conclusion
Magnify Ventures’ Fund II has raised $46.6 million, with a focus on investing in companies that address the needs of women and marginalized communities. The fund’s ambitions are clear, but only time will tell if it can deliver on its promises.
