As a young man, Valiant was in a relationship with a young woman named Fiona, and had a best friend named Henry Flattbottom. Henry was in love with Fiona as well, and when she became engaged to Valiant, Henry devised a plot to get rid of his friend. Hiring Prisoner 24601 to forge a parting note in Fiona's hand, Henry secretly gave the note to Valiant inside of a locket Valiant had earlier given to Fiona. The note urged Valiant to leave the harbor, saying that he no longer meant anything to Fiona. Heartbroken, Valiant boarded a ship for England, the Mermaid, and died when it sank after crashing on jagged rocks. After hearing of his death, Henry felt remorse and later created a memorial for him and the others on board the ship (though really it was more of an entrance to the labyrinth created for Henry's personal use).
Later, after the truth about his death is revealed, Valiant's ghost returns to Hemlock Harbor and he and Fiona are re-united.