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Startups & Venture·July 2, 2026·1 min read

Melinda Gates’ venture firm backs Magnify Ventures’ $46.6M Fund II

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A $46.6M Fund II anchored by Pivotal Ventures keeps early-stage capital flowing into care, family, and aging-tech themes. If you’re building in those categories, this is more validation that specialized funds — not generalist SaaS money — will set terms and expectations.

Startups & Venture

Sources: Palmer Luckey's Erebor Bank is in talks to raise money at an $8B+ valuation, up from $4.35B in 2025; its deposits grew from $1.1B in March to $4B now

Erebor Bank’s deposits jumping from $1.1B to $4B and an $8B+ valuation talk underline how fast “affinity finance” can scale when it taps a politicized customer base. Fintech founders should read this as proof that distribution via identity and ideology can rival product-led growth—regulators will read it the same way.