Kara Elyse Nortman (born 1976 or 1977)[1] is an Americanventure capitalist, founder and managing partner of Monarch Collective, and co-founder ofNational Women's Soccer League (NWSL) clubAngel City FC.[2]
Nortman graduated fromPrinceton University with a bachelor's of arts degree in politics, and fromStanford University with a master's in business administration.[3]
In 2014, Nortman joinedUpfront Ventures, aLos Angeles, California-basedventure capital firm.[4][2][3] Nortman's investments included Parachute Home, Writer, Laurel, Fleetsmith (acquired by Apple), Strive Talent (acquired by Franklin Covey).[3][5] In 2020, Upfront promoted Nortman as one of three co-managing partners. In 2022, she reportedly stepped back from investing at Upfront to focus on Angel City FC.[2]
In March 2023, Nortman announced the creation of Monarch Collective, a sports venture capital fund led by herself and Jasmine Robinson with a focus on women's teams, leagues, and business opportunities. Investors in the $100 million initial raise included former tennis playerBillie Jean King,Alphabet Inc. venture capital leader Laela Sturdy, and formerNetflix president Cindy Holland.[6][7]
In 2020, Nortman co-founded NWSL expansion clubAngel City FC withJulie Uhrman,Natalie Portman.[2][8][9][10][11][12] Nortman recruited Portman after watching aUnited States women's national soccer team friendly match together, and recruited Uhrman from a women-in-tech basketball club to which they both belonged and that Nortman had helped to launch.[8][9][10][11][12] Nortman also consulted withU.S. Women's National Team Players Association executive director Becca Roux on the business potential of women's soccer.[11]
In its initial season, Angel City FC sold 16,000 season tickets, averaged more than 19,000 attendance per match, and sold $11 million in corporate partnerships and $35 million in total sponsorship revenue. Its corporate partnership revenue was larger than sevenMajor League Soccer teams and approached the value of teams in theNational Hockey League andMajor League Baseball.[12][13] Angel City FC's expansion fees were reportedly between $2 million and $5 million.[14][15] In an April 2021 fundraise, Angel City FC was reportedly valued at more than $100 million.[16]
Nortman worked for seven years atInterActiveCorp (IAC), where she served in executive roles for mergers and acquisitions[17][18] and oversaw the acquisitions ofUrbanspoon andDictionary.com. She later served IAC as an executive at its holdings Urbanspoon andCitysearch.[3][19] At IAC, she also sat on the board of startup incubator Hatch Labs and recruited dating appTinder and its founderSean Rad.[3][4] Following IAC, she co-founded children's creativity startup Moonfrye withSoleil Moon Frye.[20]
Prior to IAC, Nortman also worked forMorgan Stanley,Microsoft,[3] and as a venture capitalist forBattery Ventures.[3][4]
Nortman co-founded All Raise, a gender-equality group of venture capitalists attempting to increase diversity among venture funds and entrepreneurship.[8][10][12]
Nortman resides inLos Angeles, California. She attended the1999 and2015 FIFA Women's World Cups.[10] Her business interest in women's sports started when she tried and failed to purchase a United States jersey at the 2015 tournament.[11] Nortman married Jake Blumenthal in 2007[1] and has three daughters.[21][22]