Her Bet Paid Off: Building a Women’s Sports Empire

Hustler Words – Venture capitalist Kara Nortman’s early bet on women’s sports is now paying dividends, as she actively shapes the market’s future. Despite Angel City FC, the Los Angeles soccer franchise she co-founded, facing on-field challenges, its commercial success has become a blueprint for a larger movement.

Angel City’s innovative approach, including a celebrity ownership group and savvy sponsorships, generated unprecedented buzz, leading to substantial revenue. This success inspired Nortman to launch Monarch Collective, a $250 million fund exclusively focused on women’s sports.

Monarch’s portfolio extends beyond Angel City, with stakes in other National Women’s Soccer League clubs and FC Viktoria Berlin, marking the first foreign investment in a German women’s soccer team. Nortman believes women’s sports have reached a turning point, supported by market growth from $0.5 billion to $3 billion since 2023.

Tapping into this growth requires a unique approach, focusing on innovative marketing and partnerships. Angel City’s success led to its acquisition by Bob Iger and Willow Bay for $250 million, making it the most valuable women’s sports franchise globally.

Nortman’s commitment to women’s sports is validated by Angel City’s commercial achievements. She emphasizes the need for consistent hard work and systematic investment in infrastructure and governance to ensure long-term sustainability.

Monarch’s strategy involves concentrated positions in teams and leagues, with active operational involvement. The fund aims to help teams achieve profitability, benefiting from the growth in media revenue.

Monarch’s interests extend to basketball, golf, and tennis, focusing on sports with established formats and audiences. The fund’s limited partners include Melinda French Gates and former Netflix executives, reflecting growing interest in its mission.

Nortman acknowledges past skepticism towards women’s sports, but the rise of stars like Caitlin Clark and the WNBA’s record viewership have changed perceptions. She believes in supporting an ecosystem where multiple franchises can thrive, with strong league governance, owner commitment, and community connections.

As women’s sports experience a sustained boom, Nortman remains cautiously optimistic, emphasizing the importance of operational excellence to ensure long-term success. She believes that every surge in attention is an opportunity to create a consistent and sustainable experience.