Hong Kong firm launches $50M VC fund in Nova Scotia

Hong Kong-based First Eastern Investment Group is creating a $50-million private venture capital fund in Nova Scotia. The company, headed by international investor Victor Chu, established the fund after matchmaking by Clearwater CEO John Risley who introduced Chu to provincial premier Stephen McNeil last year. The fund will not be sector specific and investments could target promising firms beyond the start-up mode in health care, food security, ocean technology or air quality. Chu is a pioneer of private equity investments in China and has established VC funds in Europe and the UK. He is said to have a particular interest in emerging technologies and on a recent visit to the province visited Dalhousie Univ and several private innovative firms. For Nova Scotia companies,