"Despite its lackluster on-field performance, Angel City itself has become a case study (including literally, inside Harvard Business School) in how to best construct a women's sports property. The team's celebrity ownership group, including Natalie Portman and Serena Williams, has helped generate nearly unprecedented buzz. The franchise has also been savvy about sponsorships, breaking records before players kicked a ball."
"That commercial success, not trophies, became the blueprint for Monarch Collective, the $250 million fund Nortman launched in 2023, which has become the first investment vehicle focused exclusively on women's sports. While its origin story may be rooted in a team that has yet to win a playoff game, Monarch's portfolio and influence have expanded far beyond Angel City's training facility in Thousand Oaks, California."
Angel City FC finished 11th out of 13 teams despite strong commercial traction and high-profile ownership. Celebrity owners and aggressive sponsorship deals generated significant buzz and revenue, including rapid growth to $30 million and sold-out games. That commercial model prompted the creation of Monarch Collective, a $250 million fund launched in 2023 and positioned as the first investment vehicle dedicated exclusively to women's sports. Monarch now holds stakes in multiple NWSL clubs and acquired 38% of FC Viktoria Berlin, becoming the first foreign investor in a German women's soccer team. The fund reflects confidence in a broader inflection point for women's sports investment.
Read at TechCrunch
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