Keep pulling the thread on Karen Ortman.
Monarch Collective is the first institutional fund to become a shareholder in the WNBA.
Monarch Collective was the first dedicated investment fund focused on women's sports at the time of its launch.
Monarch Collective initially targeted a $100 million fund, first closing at $150 million and later expanding the fund to a final size of $250 million.
Forbes has estimated the valuations of the New York Liberty and the Golden State Valkyries to be over $400 million each.
Angel City FC's initial fundraising round was less than $1 million at a $6 million valuation and occurred three weeks before the COVID-19 pandemic began.
Notable limited partners in Monarch Collective include Billie Jean King, Melinda French Gates, Sarah Hardin of Hello Sunshine, and Cindy Holland, formerly of Netflix.
Karen Ortman and Jasmine Robinson launched Monarch Collective on January 1, 2023.
At its launch, Monarch Collective's two primary investment theses were U.S. soccer, European soccer, and women's basketball.
Monarch Collective describes the WNBA as a "hyper growth league."
Monarch Collective's portfolio includes investments in five women's sports teams and one rights-based business it incubated.
Recent public valuations estimate Angel City FC's value at approximately $335 million.
Approximately 60% of the limited partners in Monarch Collective's fund are women.