$50 Million Private VC Fund to be Launched in Nova Scotia (Views: 2301)
Mon, 16 Feb 2015
Businesses will soon have access to a new $50 million private venture capital fund in Nova Scotia founded by international businessman Victor Chu. Victor Chu is the chairman of First Eastern Investment Group, a leading Hong Kong-based direct-investment firm and a pioneer of private equity investments in China.
Premier Stephen McNeil is very pleased to announce the VC fund as he met Mr. Chu in China back in September where they first discussed the possibility of the private fund. The fund was confirmed on January 25, and Mr. Chu will visit Nova Scotia in the spring to continue with the fund’s launch and decide the name.
“I am delighted to launch this investment and partnership initiative to support small and medium-sized enterprises (SMEs) in Nova Scotia to expand their businesses into the vast Asian markets,” said Mr. Chu. “We have a wonderful track record in helping European SMEs to grow into Asia, and I am sure we will achieve similar ‘win-win’ successes with companies from Nova Scotia.”
The launch of the fund will not only support the startup community but will help Nova Scotia double its exports and further expand its tourism into the Asian markets.
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