Luxus is eyeing a new category for investment, and starting a new fund to boot.

The Christie’s-backed wealth tech company founded by Blackstone alumna Dana Auslander is starting a new fund to the tune of $2 million, with a targeted focus on Hermès Birkin and Kelly handbags. “The thesis is that the investor and the collector are the same person,” Auslander said of the fund. “People invest in real estate, art, jewelry, watches. There have been funds that have been dedicated to those verticals, but nothing for handbags.”

Auslander had raised $1 million in May to pilot the concept, when she acquired 36 Kelly and Birkin handbags. “We flipped them right away in a combination of marketplaces,” she said, nodding to 1stDibs , Sotheby’s and Farfetch. Luxus has exited nine of those, with a gr

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