LONDON — Adrian Cheng is continuing his mission to build an ecosystem of Millennial and Generation Z-focused brands and platforms, which are responding to shifting consumer behaviors. C Ventures, the new fund he introduced last October, has already taken stakes in various e-commerce and editorial platforms, including Moda Operandi, Not Just a Label, Dazed Media, Galore and SkyBound.Today, the billionaire entrepreneur announced two new investments made through C Ventures, in Finery, a digital wardrobe management system also backed by model and actress Brooklyn Decker and entrepreneur Miroslava Duma, and Undone, an online platform which allows customers to create made-to-order, customized watches.Terms of the deals were not disclosed.Cheng's aim is to help accelerate the growth of these businesses and connect them with the new generation of Chinese consumers, which he sees as "driven by the sharing economy, the use of digital technology and an appetite for bespoke luxury," having been shaped by Chinese online giants Baidu, Alibaba and Tencent."Each of these brands has a unique proposition that plays to the interests and needs of the Millennial and Gen-Z audience. The investments are also based on C Ventures’ firm belief in global connectivity, which will be crucial for the future of the fashion and lifestyle markets,” said Cheng.He also highlighted the "interconnected nature" of the businesses in the C Ventures portfolio, which will allow them to grow further through collaboration.“The C Ventures ecosystem allows fashion, creative media and entertainment brands to cross-collaborate. These new investments further prove that we have wild ambition to bring accelerate the growth of tech-driven and revolutionary brands, and bring them to the global market,” added Clive Ng, cofounder of C Ventures.Finery, for instance, which digitizes a user's closet and then makes new product recommendations which link to e-commerce platforms, could benefit from C Ventures' partnership with luxury e-tailer Moda Operandi. In December, Cheng took a “significant stake” in the luxury e-tailer Moda Operandi via both C Ventures and his second vehicle K11, in a round of investment which also included Matchesfashion.com majority stakeholders Apax Partners.Cheng also plans to provide the brands with strategic support via his K11 investment fund, whose projects span across retail, art and culture and include the K11 Art Malls, a museum-retail concept which aims to incorporate art into the shopping experience.Earlier this month, Cheng also announced a $10 million investment in in the U.S.-based artificial intelligence company ObEN, via K11.
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