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    VIP Art Fair Gets $1 Million Funding From ‘Angel’ Investors

    On the eve of its second annual run (Feb. 3–8), organizers of the VIP Art Fair, the first-ever virtual art fair held entirely online, announced new funding and management appointments.

    NEW YORK—On the eve of its second annual run (Feb. 3–8), organizers of the VIP Art Fair, the first-ever virtual art fair held entirely online, announced new funding and management appointments.

    Organizers announced the closing of an initial round of funding by two international investors, Brazilian art collector Selmo Nissenbaum, who is a partner in Personale Investimentos and Australian collector Philip Keir, a media and arts specialist and founder of NextMedia. Together they have invested a total of $1 million in the fair.

    The fair also has a new executive team in place including CEO Lisa Kennedy who was appointed in November and newly appointed fair director Liz Parks. Kennedy was most recently executive vice president at Quidsi Inc, an Internet retailer of consumer products in the United States.

    Parks, who joined the fair earlier this month, is an art advisor and was, previously, the sales director at Artnet for eight years.

    Former VIP fair director Noah Horowitz left in October to become director of the annual Armory Show, a major international fair held each March on the west side of Manhattan and spread over two ship piers.

    VIP also announced it will launch three new art fairs that will take place later this year including VIP Paper in April, VIP Photo in July and VIP Vernissage in September.

    “This capital investment allows us to continue to build on the strength of our platform adding substantial resources to our technology,” said Kennedy. “It also will provide more opportunities for galleries to connect with their clients while continuing to build new audiences for contemporary art, from anywhere in the world.”