Arbor Ventures has raised up to $178m for its second venture fund, FinTech Global can reveal.
The vehicle, Arbor Venture Fund II, is looking to raise around $220m; however, it is unclear whether this is a goal or hardcap, according to the latest US Securities and Exchange filing.
So far, the firm has received contributions from 23 investors.
The firm has been very active within the FinTech sector, having completed five transactions in the space last year. Arbor has already led an investment this year, backing?Singapore-headquartered banking platform Silot. The company supports financial institutions and merchants with access to payments, onboarding, operations management and AML services.
Other FinTechs in its portfolio include e-commerce fraud protection provider NS8, data-driven debt collection platform TrueAccord, and digital currency wallet Abra.
Hong Kong-based Arbor is a VC investor which looks to back entrepreneurs that have a deep understanding of their market and the tenacity to build a successful company, according to the company website.
The firm debut vehicle was looking to raise $125m, but its is unclear whether it closed on its goal.
There was $2.5bn invested into Hong Kong FinTech space last year, according to data by FinTech Global. Marketplace lending companies led the way for funding, bagging around 87 per cent of the total equity.
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