Engineering Capital rounds up $47.5m for Fund II

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Venture capital investor Engineering Capital had raised $47.5m for its second fund.

The close comes two years after the firm pulled in $32m for its debut fund.

The firm has no capital left to register after attracting commitments from 23 investors, according to a filing with the SEC.

It is not clear what strategy the vehicle will adopt, but its predecessor deployed between $500,000 and $1m into IT companies.

The investor seeks to lead seed rounds and currently boasts a portfolio of 15 start up businesses, according to its website.

Most recently, the firm led a seed round which saw enterprise IT start up Passage.ai raised $3m.

Shortly after, the early stage investor also backed real time applications platform Binaris in a $4.7m seed round.

The latest fund close marks just one amid an influx of venture funds hitting the market.

Last week AltAssets reported that Sapphire Ventures were back on the fundraising trail and hoping to pull in $100m.

Ulu Ventures also raised $41m on the way to its $50m fund target.

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