Velo previously published a one-off edition of Arise, which is owned by African newspaper proprietor Nduka Obaigbena.
It has now been given the green light to go monthly with the magazine.
Arise, which is fee-based but is expected to carry some advertising, will have a distribution of around 40,000 copies and will be sold in the UK, France, the US, Nigeria and South Africa.
It is expected that around 24,000 copies of the magazine will be sold in the UK, though a cover price for Arise has yet to be decided.
Velo editorial director Craig Smith, a former executive at Publicis Blueprint, said the title views its main competitors as Vogue and Vanity Fair.
Velo recently won the brief to handle customer magazine Debenhams Desire, which has a circulation of 750,000.