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VC Kara Nortman bet early on women’s sports, and now she’s creating the market
Venture capitalist Kara Nortman co-founded Angel City FC, which, despite a disappointing season finish, showcases new possibilities for women's sports investment. Her firm, Monarch Collective, launched a $250M fund focused on women's sports, becoming a pivotal player in the market as it evolves from $500M to nearly $3B. Nortman emphasizes the need for systemic support to sustain this growth while drawing lessons from historical silences in women's sports.
Key points
- Kara Nortman co-founded Angel City FC in 2020, which finished 11th out of 13 teams in its latest season.
- Angel City has attracted attention through a celebrity ownership group and successful sponsorships, generating $30M in revenue.
- Despite its sports performance, Angel City serves as a model for women's sports investment.
- Nortman's Monarch Collective launched a $250M fund in 2023, attributed to the growing market for women's sports.
- Monarch holds stakes in multiple women's soccer teams, including foreign investments (FC Viktoria Berlin).
- Women's sports market growth is evident, jumping from $500M to nearly $3B currently.
- Nortman's strategies emphasize operational involvement rather than passive investments, aiming for profitability.
- She highlights the importance of strong infrastructure and governance for achieving sustained interest in women's sports.
Why it matters
- Historically, women's sports have faced existential challenges, such as the 1921 ban in England.
- Trends indicate rising media interest, property values, and audience engagement in women's sports.
- The growth of women's basketball and soccer signals a turning point in sports investment strategies.
Kara Nortman's investment in women's sports through Angel City FC and Monarch Collective highlights a transformative era in sports, underlining that sustainable success hinges on operational expertise and long-term commitment amidst a rapidly evolving market.