Geek Ventures, a venture capital firm founded by Ihar Mahaniok, is raising a second fund, according to a recent filing with the Securities and Exchange Commission (SEC). The firm, which focuses on investing in early-stage immigrant founders, has raised $9 million so far, with its first sale registered on January 13th.

The news comes two years after Mahaniok, who immigrated to the U.S. from Belarus, launched Geek Ventures with a $23 million debut fund. At the time, Mahaniok spoke to TechCrunch about the challenges immigrant founders face in the venture ecosystem, citing the disparity between talent distribution and opportunity. "Talent is equally distributed, but opportunity is not," he said.

Geek Ventures joins a growing number of venture firms that target immigrant founders, including Unshackled Ventures and One Way Ventures. The firm's investment focus is on SaaS, hardware, and deep tech, with portfolio companies like Spice AI, an AI developer, and Saturday, a networking platform. According to Pitchbook, Geek Ventures has made more than 60 investments to date.

The second fund, which has no target amount disclosed, is a significant milestone for Geek Ventures, demonstrating the firm's commitment to supporting early-stage immigrant founders. While Mahaniok declined to comment on the fundraising, the move is seen as a positive development for the startup ecosystem, which has historically been dominated by established players.

The fundraising also underscores the growing recognition of the importance of diversity and inclusion in the venture capital industry. By targeting immigrant founders, Geek Ventures is helping to address the lack of representation and access to funding for underrepresented groups. As the startup ecosystem continues to evolve, Geek Ventures' focus on early-stage immigrant founders is likely to have a lasting impact on the industry.

With its second fund, Geek Ventures is poised to continue its mission of supporting talented immigrant founders and bridging the opportunity gap. As the firm looks to deploy its new capital, it will be interesting to see how its investments shape the startup landscape and contribute to a more diverse and inclusive industry.