Nova Scotia launches $15 million early-stage VC fund

halifax

The Nova Scotia government has announced a new $15 million early-stage venture capital fund.

The fund will be led by Patrick Hankinson, a Halifax entrepreneur and investor who specializes in information technology companies.

The Nova Scotia government said the fund will complement a previous $15 million fund, led by Build Ventures, that was created for later-stage startups in December 2017. Together, the two funds will make more venture capital available to entrepreneurs in the region.

“Nova Scotia has great economic potential and we are working closely with all of our partners in business, education, government and community on a common approach to growing our economy,” said Geoff MacLellan, minister of business. “We recognize the value of entrepreneurs and their ability to generate wealth and employment. By building a stronger economic foundation for people to invest and grow their ideas here, our economy can thrive and all Nova Scotians will benefit.”

In October 2016, the Nova Scotia government dedicated a total of $40 million to Innovacorp’s Nova Scotia First Fund. The province also dedicated $2.25 million to expanding Volta Labs in December 2017.

Amira Zubairi

Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.