Welcome to our #168 weekly newsletter.
“For women taking control of their financial future”
-Jana Hlistova
From The Purse
In this week’s newsletter, we spotlight a new venture capital fund, the Monarch Collective with a mission to ‘accelerate equity in global sport’.
Venture capitalists Kara Nortman and Jasmine Robinson have successfully raised $100m to invest in global women’s sports.
Read about why women’s sports is a good investment opportunity.
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And you can review the news in brief so you stay on top of global financial, economic and investing trends.
I hope you enjoy this week’s newsletter.
Until next week,
Jana
The Monarch Collective raises $100m to invest in global women’s sports
Venture Capitalists Kara Nortman and Jasmine Robinson launch a new VC fund.
Venture capitalists Kara Nortman and Jasmine Robinson have raised a $100m VC fund (US) to invest in global women’s sports, as reported by FastCompany.
The Monarch Collective’s mission is to ‘accelerate equity in global sport’ and will focus on investing in women’s teams and leagues, in addition to media and gaming.
They are considering initial investments in women’s football teams in the U.S., and in women’s teams and leagues in sports such as basketball, cycling, and rugby internationally.
Why is women’s sports an investment opportunity?
According to Kara Nortman:
“You’re buying into a market size that I would say is heavily depressed . . . [women’s sport] make up less than a 10th of a percent of the size of the men’s sports ecosystem, in terms of the revenue generated.
So, even if you believe women’s sports is going to become just 1% of the overall sports market, that’s 10x market size growth.”
Therefore professional women’s sports, which is just starting to break through on television with sponsors and a growing fanbase, presents “an arbitrage on sexism”.
Nortman goes on to say:
“There’s an opportunity to get in at what should be historically low valuations in teams and leagues, that are at the beginning of a media rights cycle—which is a very well understood revenue stream…
So if you’re disciplined, if you have the right fund size, if you’re showing up and actually doing work, you can get venture-like returns with very low risk.”
Also, women’s sports is finally capturing the public conversation.
After U.S. Women’s National Soccer Team won the 2019 World Cup, the high-profile victory eventually led to the signing of equal pay agreements between the U.S. men’s and women’s teams last September.
And according to Jasmine Robinson:
“These cultural moments, combined with new media and content distribution opportunities create this unique moment where women’s sports can scale and grow.”
It is high time that women’s sports moved from being on the sidelines and into the limelight. And for women’s sports investments to shift from being a ‘trend’ to being standard practice’.
News in Brief
Financial news
Nasdaq 100 rises 20% from December low to enter bull market.
The value of global bonds almost were steady this week so no further stress on bank balance sheets.
Bank run in slow motion continues: deposits at US banks fell sharply for a second week. Deposits at commercial banks dropped by $125.7bn in week ended March 22, marking 9th-straight period of declines, highlighting preference for higher-yielding money-market funds.
Eurozone inflation cools significantly to 6.9% year-on-year in March, down from 8.5% in February and lowest level since February 2022, and lower than estimated 7.1% BBG poll. But core inflation, which excludes volatile items, quickened to 5.7%, a fresh ATH, showing inflation pressure remains high.
UK firms report surge in orders amid signs of economic recovery. After UK narrowly misses recession IoD reports rise in business demand, confidence, hiring and investment in March.
UK house price correction ‘has some way to go’ after March falls. Average property drops 3.1% to £257,122 over year to March, says Nationwide.
Nouriel Roubini sees crash danger because central banks are in a kind of trilemma: “We cannot achieve price stability, maintain economic growth, have financial stability at the same time,”
Michael Burry says he was 'wrong to say sell,' Congratulates dip buyers: 'Going back to the 1920s, there has been no BTFD generation like you’.
World Bank warns of ‘Lost Decade’ as potential growth slows. The global economy’s potential growth through the end of the decade has slowed to the weakest in 30 years, the World Bank said, citing fallout from the coronavirus pandemic and the conflict in Ukraine.
Crypto: bitcoin, ethereum, DeFi & NFTs
Bitcoin (BTC) is up 3%+ over the past week to $28,463 as of Sunday morning, and Ethereum (ETH) is up 4.2%+ to $1,822.
Stellar (XLM) leaped 22% and currently trades at nearly $0.11, while XRP surged 20% to $0.53 thanks to "investor hope" among the XRP army that Ripple's endless case with the SEC might go Ripple's way.
Katie Fortune, the Bank of England’s Central Bank Digital Currency (CBDC) said that CBDC’s can be a “bridging asset” between TradFi and crypto.
Commodity Futures Trading Commission (CFTC) is suing the largest crypto exchange in the world, Binance, and its CEO Changpeng “CZ” Zhao.
'The future of banking has no banks,' Bernstein says. Welcome to 'hyper-bitcoinisation'
Bitcoin whitepaper to make F1 debut as Kraken partners with Williams Racing. The crypto exchange hopes to raise the profile of the crypto ecosystem in a sport draws 1.6bn viewers over a race schedule that takes it through 20 countries a year.
Coffee Break? Read This
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