few suggestions

I felt he wants you to find VC from both US and China. It could be a real biz. It is weird for a real estate invest company to find VC -- He is setting up a "老鼠会“？

Few suggestions:
1. Find out if it is a reasonably company and a right biz model.
2. Bottom line is you'll put your money on table unless you are totally convinced
3. Not get your friends (both US and china) involved at the beginning

Finally, 50% of zero is still a zero.