Portugal-based private equity firm Apex has acquired a minority stake in the Northern Super League (NSL), Canada's first professional women's soccer league.
The transaction is claimed to represent the first completed private equity investment in a professional women's soccer league globally.
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The league has explained that the investment will support its next phase of growth, “including commercial expansion, audience development, digital innovation, and international distribution opportunities in preparation for the next media rights cycle.”
The nascent NSL is currently in its second season, with the league’s debut campaign taking place last year.
Christina Litz, president of the NSL, stated: “In just one season, the Northern Super League demonstrated that there is significant demand for professional women's soccer in Canada. This investment from APEX reflects confidence not only in the progress we have made, but in the opportunity that lies ahead.
“As we continue to build the league, APEX's global experience, strategic perspective, and commitment to growing sports properties will help us accelerate audience growth, strengthen our commercial business, and position the Northern Super League for long-term success on the international stage.”
The NSL performed well commercially in its inaugural season, attracting more than 275,000 fans across 80 matches.
The league revealed that it generated over $30 million in league-wide revenue before any media rights monetization. The competition also secured 16 national partners in year one, including Toyota, Coca-Cola, BMO, DoorDash, and Canadian Tire.
Broadcast partnerships were struck with CBC and TSN domestically, and with ESPN+ in the United States.
The deal with the NSL represents Apex’s first investment in women’s soccer. According to the league, the global women's sports market has grown more than 3.5x since 2022 to approximately $2.4 billion, with women's soccer's fanbase projected to reach 800 million by 2030.
António Caçorino, founder & CEO of Apex, stated: “Women's football has the players, the fans, and the competitive quality.
“With the right capital and commercial infrastructure behind it, the sport has the opportunity to unlock significant long-term value globally. The NSL delivered in season one. Now we are excited to help enable the next phase of growth.”
This is the second capital deployment from the Apex Sports Growth Fund, following the firm's recently-announced investment in the NFL-backed professional flag football league alongside TMRW Sports.
The group has previously invested in the BWT Alpine Formula 1 Team, Italian soccer club Venezia FC, Baller League, the digital-focused six-a-side soccer competition, and TGL, the tech-infused golf competition founded by TMRW Sports.
Apex's Sports Growth Fund targets “strategic positions in small-to-mid cap sports assets valued between €50 million and €500 million, focusing on high-IP properties with untapped commercial potential.”
Last year, the firm also entered into a strategic tie-up with Indian sports agency Baseline Ventures to explore opportunities in the market.
