The J-class yacht Velsheda was designed by Charles Ernest Nicholson and built in 1933 by Camper and Nicholsons at Gosport, Hampshire. She was built for businessman William Lawrence Stephenson and between 1933 and 1936, she won many races and competed with other yachts of her era such as Britannia, Endeavour and Shamrock V.

The J Class of racing yachts were built to the specifications of Nathanael Herreshoff's Universal Rule. The J Class is considered the apex of the era when the Universal Rule determined eligibility in the America's Cup.