Yes, you can do it, but it is a very manual process. The name of the folder where you install Subversion Edge has nothing to do with the URL it is access. The URL will always be /csvn. What you can do is manually override the port numbers being used so that they are unique and you can have a second instance. There is documentation in a wiki page on how to do this:
https://ctf.open.collab.net/sf/wiki/do/viewPage/projects.svnedge/wiki/ModifyPorts
Once the web console is started, you would of course also need to configure the Apache server in this second instance to be using a unique port that does not clash with the other instance.
If you want to "install" init.d scripts to autostart both instances, then you also need to rename those scripts so that they do not clash. The default scripts are in the bin folder and named "csvn" and "csvn-httpd".