The House of Blankfein was not going to get shown up by the likes of Sallie Krawcheck and Arthur Levitt, even if Motif's business model is to be "an online evolution of investment clubs" that "allows investors to buy a bucket of stocks centered on a theme, like healthy food, inflation or even rebuilding after Hurricane Sandy."
Sallie L. Krawcheck, a former executive of Bank of America and Citigroup, is on the board. Arthur Levitt Jr., a former chairman of the Securities and Exchange Commission, was an adviser to the online broker before joining the board in February.
Mr. Levitt, who works as an adviser to Goldman, made introductions for Motif and was “very, very important in getting this deal done,” Mr. Walia said.
In addition to Goldman, the venture capital firms Foundation Capital, Ignition Partners and Norwest Venture Partners, which already were invested in Motif, participated in the latest financing round.
Goldman Invests in Upstart Online Broker [DealBook]