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Angel City founder Kara Nortman and venture capitalist Jasmine Robinson have launched Monarch Collective, a new US$100 million fund for women’s sports.
Confirmed:
- Tennis icon Billie Jean King invests in new venture capital fund
- Monarch Collective’s advisor roster includes 49ers Enterprises president Paraag Marathe, SoftBank managing partner Lydia Jett, CapitalG managing partner Laela Sturdy, Adobe’s Ashley Still, Netflix’s Cindy Holland and Hello Sunshine’s Sarah Harden
- Fund to focus on investment into teams, leagues and organisations
- Monarch places emphasis on facilitating economic and sociological change
Context:
In addition to her National Women’s Soccer League (NWSL) franchise investment, Nortman has more than two decades of experience as a business investor and operator. Robinson, meanwhile, has experience of working for Raine Group and Causeway, while she previously served as the San Francisco 49ers’ business operations manager.
Comment:
‘One of our dreams for Monarch is to show the world that fans will pay as much to watch women as they will men,’ Nortman wrote on Medium. ‘While both men and women watch sports in nearly equal numbers, women control more discretionary spend than people realise, making them a highly coveted demographic for brands and media companies.’
Coming next:
In a recent PricewaterhouseCoopers (PwC) survey, 70 per cent of industry executives projected revenues from women’s sport to grow a further 15 per cent over the next three to five years.
