The victim was leaving his home in Croft Street, Birchills, when he was set upon at around 4.30am on Monday.
West Midlands Police has now confirmed that a second arrest has been made in connection with the incident.
Meanwhile a 17-year-old youth who was detained on suspicion of wounding in the aftermath of the attack has been given police bail while the investigation into the attack continues.
The force posted in Twitter: "We've arrested a second teenager in connection with a machete attack on a man in Croft Street, Birchills yesterday morning.
"The 18-year-old man was this morning detained on suspicion of wounding and taken into custody for questioning.
"A man in his 30s was attacked at around 4.30am. Fortunately his physical injuries were not serious.
"A 17-year-old boy who was arrested yesterday has been bailed with conditions while our inquiries continue."
The injured man, aged 38, was on his way to work when he was set upon in what is believed to have been a targeted attack.
The incident is the latest in a number of violent attacks and incidents in Croft Street with a pensioner having his nose broken by a burglar last May and a street brawl involving 18 people in June 2020.
A Croft Street resident, who did not want to be named, said people in the area were too scared to report matters to the police as they feared retribution.