Whitefish Bay-based Looking Glass Investments on Monday launched its second fund, which has already raised $5 million from one investor.

According to an SEC filing, the offering for the pooled investment fund, LGI SPV II LLC, will last more than a year. The minimum accepted from any outside investor is $250,000.

The total offering amount was undisclosed. The fund is open ended, said Matt O’Malley, president and chief operating officer of Looking Glass. Read the full story here.