Retail and e-commerce conference organiser Shoptalk and venture capital firm Commerce Ventures have seeded a $1m US-based fund called Shoptalk Ventures that will focus on e-commerce and retail technology startups.
Shoptalk Ventures plans to invest in 20 companies within the next two years and Commerce Ventures, which itself concentrates on the retail and e-commerce sectors, will independently handle the fund’s investment reviews, selections and due diligence.
Shoptalk runs conferences for the retail and e-commerce sectors that allow industry figures to collaborate and meet up with entrepreneurs, technology developers and investors. It will become a limited partner in Commerce Ventures as part of the deal.
Commerce Ventures has more than 40 portfolio companies including SessionM, a loyalty marketing platform developer that attracted $35m in a September 2016 series D round.
Anil Aggarwal, Shoptalk’s founder and CEO, said: “Our goal with Shoptalk Ventures is to further support the early-stage startup ecosystem that is enabling retail and e-commerce as it continues to transform for a digital age.”