Boston-based Underscore.VC has raised over $132m for its sophmore venture capital fund, setting it just a few million dollars away from its fundraising goal.
The fund has secured capital commitments from at least 31 investors so far, according to a filing from the United States Securities and Exchange Commission.
The firm is looking to raise up to $140m for the fund but it is unclear whether this is a target or hard cap.
Underscore had previously held a close for the fund on on $115m raising over 30 per cent more than its debut vehicle.
Fund I closed back in 2016 on $85m and was been used to back more than 20 companies. Companies in its portfolio are operating solutions in the open source, AR/VR, AI and machine learning, e-commerce, MarTech, cloud infrastructure, blockchain and IoT spaces.
Earlier in the year, the firm led the $8m Series A investment into e-commerce software developer Moltin. The Boston-headquartered company provides an API-based e-commerce solution to help retailers digitise their stores. Services include cross-platform shopping carts and digital checkouts, inventory management, online orders, payment gateways and data model control.
Underscore also led an $11m Series A round for machine learning RegTech platform Forge.AI.
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