Thrive Capital, a New York-based venture capital firm, has raised $40 million for its second fund, The New York Times reports. The product will focus primarily on technology start-ups in New York with a consumer or social bent.
The new vehicle may also make investments in Latin America. The firm’s first fund, which raised $10 million, invested in companies, such as Hot Potato, Art.sy, Bank Simple and OnSwipe, adds Fortune.
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