News Summary

Venture capitalist Kara Nortman, co-founder of Angel City FC, has launched the Monarch Collective, a $250 million fund focused exclusively on women’s sports. Despite Angel City’s lackluster on-field performance, the team has become a commercial success, inspiring the formation of Monarch. The fund holds stakes in several women’s soccer clubs, including San Diego Wave and Boston Legacy FC, and recently acquired a 38% stake in Germany’s FC Viktoria Berlin. Nortman believes the women’s sports market has grown from half a billion to $3 billion since 2023. Monarch’s approach involves taking concentrated positions in teams and leagues, adding operational value, and aiming for profitability. The fund is also interested in other sports like basketball, golf, and tennis. Notable investors include Melinda French Gates and former Netflix executives. Nortman emphasizes the importance of strong infrastructure and governance to sustain the growing interest in women’s sports.