Arbor Ventures has pulled in roughly US$178.6 million for its second venture fund.

Arbor Venture Fund II LP, which has a fundraising target of US$220.0 million, has attracted capital from 23 investors so far, according to a May 15 SEC filing.

The Hong Kong-based venture capital firm targets early-stage investments in the fields of technology, big data, financial services, collaborative consumption and e-commerce in East and Southeast Asia.