Brazil-based venture capital company Canary has completed a second round of fundraising for a total of $75 million, Reuters reported.

Canary Fund II, as the fund is known, has received support from local businesspeople, local and international family offices, and veteran technology entrepreneurs.

Canary said investments from the fund will be used to expand support to Brazilian startups with high growth potential. With the fund, the company has invested in six companies out of a target of 50 in the next two years, Reuters said.