CNBC Changemakers

Kara Nortman

Company: Monarch Collective
Title: Co-Founder and Managing Partner
Industry: Venture Capital

Standout achievement in 2025: Expanded investment into women's sports by growing her $250 million fund's portfolio and expanded globally with a stake in FC Viktoria Berlin.

After its successful $250 million fundraise in early 2025, Monarch became the most active investor in women's sports globally. With backing from Melinda French Gates' Pivotal Ventures and Billie Jean King, its portfolio includes stakes in AngelCity FC, San Diego Wave FC, Boston Legacy FC, and Germany's FC Viktoria Berlin, which last November became Monarch's first European investment and the first time an overseas firm invested in the German Women's Bundesliga.

She is the co-founder of AngelCityFC, which has become one of the most valuable women's soccer teams in the world, and top NWSL attendance team for several seasons. Nortman is also founding member of AllRaise, the venture capital-led nonprofit dedicated to increasing diversity in funders & founders, and advised the United States Women's National Soccer Team Players Association during its pay equity fight.

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