StrictlyVC Download How Monarch Collective scored some of the biggest early deals in women's sports
Oct 7, 2025
Kara Nortman, co-founder of Monarch Collective and Angel City Football Club, dives into the booming world of women's sports investing. She discusses her transition from tech VC to launching a $250 million fund dedicated to women’s sports, capitalizing on a market that’s exploding. Nortman reveals their unique investment strategy involving concentrated bets and hands-on operations. The conversation also touches on revenue generation, ownership structures, and the historical significance of the Dick Kerr Ladies, all while pondering the sustainability of this exciting industry.
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Angel City Launched Monarch
- Kara Nortman co-founded Angel City FC and helped prove a commercial P&L for a women's team.
- That success directly inspired her to leave tech VC and raise Monarch Collective focused on women's sports.
Pick Markets With Clear Revenue Levers
- Monarch targets sports with stable leagues, strong governance, and growing media rights.
- They focus on team-level revenue levers where operators can drive break-even or better outcomes.
Case Study And Cultural Tailwinds
- Monarch team studied Angel City via a Harvard Business School case to understand what worked.
- They witnessed cultural moments like Ted Lasso and Caitlin Clark amplify interest in women's sports.