Japan-headquartered luxury item resale service Valuence has formed a corporate venture capital subsidiary dubbed Valuence Ventures.
Founded in 2011, Valuence buys second-hand luxury goods such as watches, bags, antique items and jewellery through 76 retail stores located across its home country, Hong Kong and Indonesia. The company then holds online auctions to resell the purchased articles.
The size of Valuence Ventures’ fund has not been disclosed but it said it will partner and invest in companies working on technologies and novel business models in fields it is looking to explore, including artificial intelligence, car dealership, real estate, overseas expansion and app development.
The unit has already made its first investment, providing an undisclosed amount for Singapore-based e-commerce customer engagement provider Lingble.
The deal involved the formation of a strategic partnership in which the corporate will collaborate commercially with companies that have introduced Lingble’s services in areas such as marketing, payment, delivery and aftersales services.
