A group of 26 Cape Breton investors have pooled $1.3 million of their personal money to form the island’s first venture capital fund, Cape Breton Capital Group.
General Partner Todd Mercer, who runs residential oil supply company Mercer Fuels, said in an interview that the fund was inspired by regular gatherings of local businesspeople, during which they often discussed ways of fostering entrepreneurship in Cape Breton.
“We established the fund to support early stage startups and business extension for more traditional businesses in Cape Breton,” said Mercer. “We’re looking to drive