Ignition joins Motif backers Norwest Venture Partners and Foundation Capital
San Mateo, CA., July 25, 2011
Motif Investing, providing an innovative way to invest in ideas, today announced that it received $20 million in Series B financing led by Ignition Partners. They were joined by the company’s two existing investors, Norwest Venture Partners and Foundation Capital. Founded in early 2010 by former Microsoft executive Hardeep Walia and former hedge fund analyst Tariq Hilaly, Motif Investing will use the funds to build out and market its new investment platform. Expected to launch in fall 2011, Motif Investing is now accepting beta users.
“I was fortunate to work with Hardeep at Microsoft and witness first hand his accomplishments and growth across multiple roles and functions. When introduced to Motif Investing, I recognized its potential to have a major impact on how people invest,” said John Connors, general partner at Ignition Partners and Motif Investing board member, “I am excited about the experienced team assembled and their approach to disrupting the financial-services marketplace.”
Motif Investing’s new investment platform will enable individuals to invest in different portfolios of stocks—each called a “motif”—that are centered around everyday ideas. For example, motifs can be built around themes and ideas ranging from cloud computing to democracy in the Middle East. In addition, each motif can be customized to meet an individual’s unique needs.
“Had you invested early in an idea like the mobile Internet or cloud computing, you would have realized significant gains,” said Tariq Hilaly, co-founder and chief investment officer of Motif Investing. “The challenge for most people is that they have no way to map their idea to an actionable investment.”
“Our vision at Motif Investing is to empower individuals with an easy, intuitive way to invest in the ideas they believe in,” said Hardeep Walia, co-founder and chief executive officer of Motif Investing, “With this Series B financing and John’s addition to our board, we solidly have in place the resources and depth of experience we need to realize our vision.”
This announcement follows Motif Investing’s July 7 announcement regarding its $6 million Series A funding which closed in October 2010.