Valiant was built in 1896 as a private sailing cutter of the same name by Charles S. Drowne. She was rebuilt in 1907 and was fitted with an auxiliary engine to augment her sails in 1917. In 1917, the U.S. Navy acquired Valiant under a free lease from her owner, Henry M. Warren, for use as a section patrol vessel during World War I. She was commissioned as USS Valiant (SP-535) on 29 May 1917 at Philadelphia, Pennsylvania, with Ensign R. F. Watson, USNRF, in command.