London-based private equity firm Apex Capital “is investing up to” $30M into Canada’s pro women’s soccer league, the Northern Super League, according to Simon Houpt of the GLOBE & MAIL. The move -- Apex’s first investment in women’s sports -- “is a vote of confidence in the opportunities that investors believe can be found in the Canadian market,” at a time when domestic interest in soccer “is at perhaps its highest level ever.” Apex founder & CEO Antonio Cacorino said that the firm would invest an initial $20M in the NSL, with the “opportunity for the investment to increase to” $30M. The deal gives the league a valuation of approximately $85M. The NSL, which launched only last year, said that it generated more than $30M “in commercial revenue across all team and league operations” in its first season, including “ticket sales, merchandise and sponsorships from partners.” NSL President Christina Litz said that the league, which operates “with a lean head-office staff of about 15, will use the investment to scale up its fan growth and sponsor development operations.” Apex has previously taken minority positions in sports enterprises such as the NFL’s nascent flag-football league and TGL’s Bay Golf Club (GLOBE & MAIL, 7/7).
Apex Capital to invest up to $30M in Northern Super League
