Goldman Sachs has thrown its weight behind ideas-based stock investing business Motif Investing by leading a $25m financing round for the company.
The company has already received investments from venture firm Foundation Capital, Ignition Partners and Norwest Venture Partners, who all re-upped for the latest financing round.
Motif allows customers to invest online in theme-based portfolios of stocks, bonds and exchange-traded funds, focusing on areas as diverse as tablet computing, healthy foods and global inflation.
Darren Cohen , managing director of the Principal Strategic Investments team at Goldman, will join Motif’s board as an observer following the investment.
Motif co-founder and chief executive Hardeep Walia said, “We are thrilled Goldman Sachs has decided to invest in our vision of bringing low-cost, transparent, theme-based investing to a broader audience/.
“Since our launch last year, we have consistently added new features to our service, and it is great to have access to the deep expertise of Goldman Sachs to help us bring more value to our customers in the future.”
Copyright © 2013 AltAssets