Kara Nortman’s visionary approach to women’s sports has caught my attention as a serial entrepreneur based in Europe. What strikes me is her recognition of untapped potential within a sector historically dismissed as niche. Her success in co-founding Angel City FC and launching Monarch Collective, the first investment fund exclusively focused on women’s sports, is not just a testament to her financial acumen but to her ability to disrupt an outdated paradigm. For entrepreneurs like us, her journey is a blueprint for identifying underserved markets brimming with opportunity.
The Rise of Kara Nortman and Monarch Collective
When Nortman co-founded Angel City FC in 2020, the women’s sports market was largely neglected by venture capitalists. At the time, she saw what many others didn't: women's sports were not just a niche but a vastly underbuilt asset class with immense growth potential. By 2023, Nortman had expanded her vision into Monarch Collective, raising $250 million to invest solely in women’s sports teams, leagues, and enterprises.
The market’s trajectory since has been astounding. In her words, the global women’s sports market grew from $0.5 billion in 2023 to $3 billion by 2025. These numbers reflect Nortman’s conviction that women’s sports, with the right marketing and operational models, are poised to challenge traditional dominance by men’s leagues across soccer, basketball, and beyond.
What I find particularly compelling is Monarch’s deliberate strategy. Unlike venture capital's conventional scattergun approach, Monarch picks fewer investments but takes deeper stakes. For instance, their portfolio currently includes Angel City, San Diego Wave, Boston Legacy FC (set to debut in 2026), and German club FC Viktoria Berlin. It’s a model that drives not just visibility, but sustainable operations and profitability, a principle I often emphasize when coaching startup founders.
Lessons for Entrepreneurs
Nortman’s approach to carving out a niche in an oversaturated market holds several key lessons for aspiring entrepreneurs:
1. Spot the Untapped Potential
Like many startup founders, I’ve always believed in identifying neglected spaces. Women’s sports, much like sectors such as deeptech or blockchain, was largely ignored because it wasn’t perceived as scalable. The rapid scaling of Angel City FC and the growth of women’s sports demonstrates that overlooked industries can often be gold mines.
2. Innovate Marketing
Angel City FC’s approach to fan engagement has brought surprising revenue sources. Examples like "Hello Kitty nights" or Fenty Beauty partnership campaigns not only broke stereotypes but built deep community ties. For those in startups, this reaffirms how creative outreach can drive long-term loyalty and financial returns.
3. Think Infrastructure, Not Hype
Monarch doesn’t just focus on the "star power" behind female athletes. As Nortman herself noted, they are deeply involved in governance and operational models. For entrepreneurs in any field, sustainable infrastructure, not viral moments, provides lasting growth.
How to Apply Kara Nortman’s Strategy to Your Own Venture
Step 1: Identify Emerging Markets
Look for sectors growing in audience demand but lagging in development. It could be overlooked demographics, eco-conscious innovations, or even niche community-driven tools. Women’s esports, for example, is an adjacent sector ripe for exploration.
Step 2: Build Category Leadership
Monarch Collective’s exclusivity to women’s sports positions them as pioneers, something every entrepreneur should aim for. Generic solutions rarely resonate; bold innovators who tout exclusivity and specialization garner trust.
Step 3: Use Data, Not Assumptions
Monarch's investments were backed by careful market research showing emerging trends like fast-growing fan engagement (viewership spikes in the WNBA, women’s soccer attendance records). Startups should use AI tools and other analytics software to build data-driven proposals.
Step 4: Collaborate Without Losing Control
One striking feature of Monarch’s model is their patient and collaborative growth. Entrepreneurs who allow entry points for external stakeholders, while maintaining foundational control, benefit not only from capital but expertise.
Common Mistakes to Avoid
Over-reliance on Trends
Though Kara Nortman capitalized on favorable trends in women’s sports, she continuously evangelizes the importance of infrastructure rather than viral spikes. Entrepreneurs should avoid chasing fleeting moments and focus on long-term scalability.
Ignoring Stakeholder Buy-In
One of the reasons Angel City FC worked was its backing by high-profile names like Natalie Portman and Serena Williams. These stakeholders connected the team to broader audiences, proving that strategic partnerships are must-haves for scaling fast.
Viewing Women’s Markets as Smaller Markets
Entrepreneurs often make the mistake of underestimating spending power within women-led industries. As Nortman demonstrated with Angel City FC, the market potential can easily rival or surpass traditional male-dominated verticals.
The European Perspective: Bridging Global Opportunities
As someone deeply entrenched in European entrepreneurship, Nortman’s framework excites me. In markets like Germany, Spain, France, and Italy, where public women’s sports investments remain fragmented, there’s growing space for startups or funds to collaborate across continents. Monarch’s acquisition of German club FC Viktoria Berlin exemplifies how European partnerships could amplify this movement.
Another advantage for European founders is the community-driven focus. Angel City FC thrived because of collaborations between celebrities, major investors, and local fans. In Europe, such grassroots efforts could extend to civic organizations, social networks, and even policymakers keen to promote diversity.
What Kara Nortman Achieved is a Revolution, Not Just Investment
The billion-dollar potential Kara Nortman unlocked in women’s sports didn't happen overnight. It was fueled by deliberate, consistent effort to reshape cultural biases and economic models. As entrepreneurs, we should take note, not just of the specific sports domain Nortman reinvented but of her mindset.
By championing underserved audiences, innovating in fan outreach, and focusing on sustainable models, she’s created a lasting impact beyond revenue. Her success story, deeply rooted in building infrastructure while scaling visibility, provides a concrete roadmap for those of us seeking to redefine underexplored industries.
Whether you’re launching a startup, expanding an enterprise, or pitching to investors, the lessons from Kara Nortman’s bold moves can be applied to any niche. Dive deeper into her work at Monarch Collective or explore the transformative story behind Angel City FC. Take these lessons, adapt them to your vision, and create your market. As Nortman’s success proves, it's not about betting on what's already big, it's about building something new and making it bigger.
FAQ
1. Who is Kara Nortman?
Kara Nortman is a venture capitalist, co-founder of Angel City FC, and the founder of Monarch Collective, the first investment fund dedicated exclusively to women's sports. Learn more about Kara Nortman
2. What is Monarch Collective?
Monarch Collective is a $250 million investment fund co-founded by Kara Nortman, focused solely on women’s sports, including teams, leagues, and enterprises. Explore Monarch Collective’s mission
3. How did Kara Nortman revolutionize women’s sports investment?
By co-founding Angel City FC and later launching Monarch Collective, Nortman proved that women’s sports could scale profitably. Angel City achieved $30 million in revenues and record-breaking sponsorships, redefining what’s possible in the space. Read how Angel City FC became a success
4. How has the women’s sports market evolved?
The women’s sports market grew from $0.5 billion in 2023 to $3 billion in 2025, largely due to targeted investment strategies like those initiated by Monarch Collective. Track the growth of women’s sports
5. What teams does Monarch Collective invest in?
Monarch Collective's portfolio includes Angel City FC, San Diego Wave, Boston Legacy FC (debuting in 2026), and German club FC Viktoria Berlin. Learn about Monarch’s investments
6. What is unique about Monarch Collective's investment approach?
Unlike traditional venture capital strategies, Monarch doesn’t make scattergun investments. Instead, it takes concentrated stakes in fewer teams, offering strategic operational support for sustainable growth. Discover Monarch’s strategy
7. How has Angel City FC disrupted the sports market?
Angel City FC pioneered innovative fan engagement strategies like Sephora partnerships and themed events, driving revenue and community loyalty in ways male sports teams rarely explore. Learn about Angel City’s marketing innovations
8. Why is the success of Angel City FC significant for entrepreneurs?
Angel City’s model of focusing on infrastructure and creative marketing demonstrates how neglected markets can achieve commercial success with thoughtful strategy. Read more about Angel City’s blueprint
9. What trends are emerging in women’s sports?
Key trends include record-breaking attendance, skyrocketing WNBA viewership, and international expansion efforts like Monarch’s investment in Germany’s FC Viktoria Berlin. Explore the latest trends in women’s sports
10. What is the long-term potential of women’s sports?
Kara Nortman emphasizes that women’s sports represent an "underbuilt asset class," with the potential to rival or surpass men’s sports markets as infrastructure and operational models improve. Learn about the growth opportunities in women’s sports
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.