Jasmine Robinson and Kara Nortman, venture capitalists, announced the closing of the Monarch Collective’s $100 million fund. The Monarch Collective’s mission is to increase equity in global sports.
Nortman was a partner in the Los Angeles-based venture capital firm Upfront Ventures. Robinson was a partner in Causeway, an entertainment fund that focuses on sports and media.
The Monarch Collective will invest in women’s leagues and teams, as well as other industries like media and gaming.
According to the duo, they will initially consider investing in U.S. women’s soccer teams as well as in international women’s basketball, cycling and rugby leagues.
“There’s an opportunity to get in at what should be historically low valuations in teams and leagues, that are at the beginning of a media rights cycle—which is a very well-understood revenue stream,” Nortman says. “So, if you’re disciplined, if you have the right fund size, if you’re showing up and actually doing work, you can get venture-like returns with very low risk.”
The Monarch Collective is the next major step in the evolution and advancement of women’s sports.
As we continue to see more money headed toward sports, the women’s game is certainly at the top of our minds.
This is also a step in the right direction for female athlete VC funds.
