The rise of women’s sports is a revolution, and Monarch Collective’s bold acquisition of FC Viktoria Berlin is a testament to the powerful shift toward female empowerment in sports. This moment mirrors the fight for equality and justice seen throughout history, as women claim their rightful place in a traditionally male-dominated arena.
Monarch Collective, the $250 million private equity fund dedicated exclusively to women’s sports, has made its first foray into the European market with the acquisition of a minority stake in FC Viktoria Berlin, a newly promoted club in Germany’s Frauen-Bundesliga. This investment, which will see Monarch gradually take control of a 38 percent stake, symbolizes a significant step in the global expansion of women’s sports and the increasing recognition of their commercial viability.
Founded in 2023 by Kara Nortman and Jasmine Robinson, Monarch Collective has already made waves in the National Women’s Soccer League (NWSL) by acquiring minority stakes in teams such as Angel City FC, San Diego Wave FC, and Boston Legacy. The new venture into Europe has been in the making for over a year, highlighting a strategic approach that emphasizes thorough research and relationship building in key markets. The decision to invest in FC Viktoria Berlin was driven not just by the potential for financial return, but by the club’s unique community-centric model for women’s football in Germany.
Viktoria Berlin is notable for its all-female ownership group, which includes prominent figures in various fields such as venture capitalism, sports commentary, and entertainment. The club was founded in 2022 by six women, including former Germany international Ariane Hingst and Olympic swimmer Franziska van Almsick, who sought to create a sustainable and competitive women’s team from the ground up. Their vision has already borne fruit, as the club secured promotion to the Frauen-Bundesliga’s second division within three seasons, marking a rapid ascent that reflects the growing interest and support for women’s football in Germany.
The club’s grassroots approach has resonated well within the Berlin community, as it is intertwined with local culture and pride. Viktoria Berlin has successfully established sponsorship deals, most notably with Nike, and has seen a significant increase in attendance and television viewership. Such metrics underscore the rising popularity of women’s sports as viable business entities that can attract investment and generate revenue.
Monarch’s involvement is expected to enhance this trajectory while preserving the club’s original spirit and mission. Nortman emphasized the importance of patience and a gradual approach to investment, which aligns with the club’s foundational values. By focusing on infrastructure and commercial growth, Monarch aims to elevate Viktoria Berlin’s profile on both national and international stages without disrupting its community-oriented ethos.
Germany’s robust economy and extensive media rights make it an attractive market for investment, particularly in the realm of football. The country’s women’s national team has a storied history, having won multiple championships, which further elevates the profile of domestic club football. This successful legacy of women’s sports in Germany serves as a bedrock for potential financial success for clubs like Viktoria Berlin.
Moreover, the investment adheres to Germany’s 50+1 rule, ensuring that local ownership retains majority control. This stipulation is crucial for maintaining democratic governance within the club, allowing it to prioritize community engagement and local interests over purely profit-driven motives. Monarch’s investment is not just about financial returns; it reflects a commitment to empowering women in sports and fostering inclusive communities.
The strategic partnership between Monarch Collective and FC Viktoria Berlin exemplifies a larger trend in the sports industry, where women’s sports are increasingly recognized for their potential to drive cultural and economic change. As more investors and stakeholders recognize the value of women’s sports, the landscape is likely to shift toward more equitable opportunities for female athletes and their teams.
The rise of women’s football in Germany and beyond is indicative of a broader cultural movement that champions gender equality and representation. Monarch’s investment is a reflection of this shift, as it seeks to uplift communities and create sustainable models for women’s sports. As the narrative around women’s sports continues to evolve, the partnership between Monarch and Viktoria Berlin stands as a beacon of progress, illuminating the path forward for future investments and opportunities in this burgeoning sector.
The implications of this investment extend beyond the immediate financial aspects; they touch on issues of representation, empowerment, and the societal impact of women’s sports. As more women take on leadership roles within sports organizations and become visible figures in the industry, the hope is that this will inspire future generations of female athletes and leaders.
Monarch’s philosophy of patience and community engagement is a refreshing approach in an industry often characterized by short-term thinking and aggressive expansion. By focusing on building lasting relationships and fostering growth organically, they set a precedent for how investments in women’s sports can be structured to benefit both the teams and the communities they represent.
As FC Viktoria Berlin embarks on this new chapter with Monarch Collective, the eyes of the sports world will be watching closely. The success of this partnership could pave the way for other similar ventures, further solidifying women’s sports as an integral part of the global sports landscape. The journey ahead is not without challenges, but the potential for growth and impact is immense, making this a pivotal moment in the history of women’s football.
Monarch Collective, the $250 million private equity fund dedicated exclusively to women’s sports, has made its first move into Europe, acquiring a minority stake in FC Viktoria Berlin. The value of the deal was not disclosed, but Monarch confirmed it will gradually take ownership of a 38 percent stake in the newly promoted Frauen-Bundesliga club in Germany.
The investment marks Monarch’s entry into the international market. Founded in 2023 by Kara Nortman and Jasmine Robinson, Monarch already holds minority stakes in three NWSL teams — Angel City FC, San Diego Wave FC and Boston Legacy — and has been cultivating relationships across Europe.
Viktoria Berlin has become a model for community-led women’s football in Germany. Founded in 2022 by six women, including venture capitalist Verena Pausder, former Germany international and current Fox Sports commentator Ariane Hingst, Olympic swimmer Franziska van Almsick, and comedian Carolin Kebekus, the group relaunched the club with a vision to climb from the third tier to the top flight.
“Their founding story really ran through Angel City; they were inspired by it,” she said. “They’re deeply embedded in the Berlin community, from soccer to politics to even running one of the city’s biggest breweries. Having built ACFC, we come from a heritage of really valuing that community component.”
In three seasons, the club secured promotion to the Frauen-Bundesliga’s second division under its all-female ownership group. The club has a sponsorship deal with Nike and has seen a surge in attendance, TV audiences and sponsorship revenue. Monarch’s investment, Nortman said, will build on that foundation without altering the club’s DNA.
“One of the things I think Monarch does well is that we go slowly. We’re patient,” Nortman said. “It’s one of our core values.”
Over the last few years, the fund has expanded its presence in Europe to deepen ties. Buying into Germany came after more than a year of due diligence. That process involved a comprehensive study of Europe’s five major football markets: England, Germany, Spain, Italy, and France. Germany, Nortman said, quickly stood out.
“It’s Europe’s strongest economy, with a gross domestic product (GDP) nearing $5 trillion,” she said. “When we run diligence with potential sponsors, Germany consistently ranks among the most desirable markets for brand growth. Football is Germany’s national obsession, with more than $1 billion in domestic media rights each season.”
The successful history of Germany’s women’s national team was also of interest to the investors.
The deal adheres to Germany’s 50+1 rule, ensuring that local ownership retains majority control and democratic decision-making power.
Monarch’s investment will focus on accelerating infrastructure, commercial growth, and global brand development while keeping the founding team in place.
“Our unofficial motto is, ‘We waste time with the right people.’ Our official one is building and uplifting communities that reflect this moment in time,” Nortman said.
This article originally appeared in The Athletic.
Angel City, NWSL, Sports Business, Women’s Soccer
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