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Laxman Pai, Opalesque Asia:

British auction house Christie's announced the launch of "Christie's Ventures," an investment fund for fintech companies looking to make technological breakthroughs in the art market.

The U.K. art auction house said in a press release that the investment fund will support emerging companies with technology enabling "seamless consumption of art."

Christie's Ventures will financially support firms in Web3, "art-related financial products and solutions," and technology related to art and luxury goods explained the auction house known for its sales of art and luxury items.

Ben Gore, Christie's Chief Operating Officer, described the motivation for starting Christie's Ventures: "As a global leader in the art market, Christie's has both an incentive and a responsibility to further innovation and deepen experiences for our clients. The intersections of technology and financial products are increasingly relevant and prevalent, and we believe strongly in the opportunities ahead. For the companies we select to work with, as well as for our clients, the Christie's Ventures value proposition combines the power of our brand and capital together with our network and expertise; it is another example of the formidable Christie's Advantage."

Devang Thakkar, the newly appointed Global Head of Christie's Ventures, said: "We will focus on products and services which can solve real business challenges, improve client experiences, and expand growth ......................

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