London / Lisbon, 7th July - APEX, the international sports investment firm, today announces a partnership with and a strategic stake in the Northern Super League (NSL), Canada’s first and only professional women’s soccer league.
The transaction represents the first completed private equity investment in a professional women’s soccer league globally, reflecting growing investor confidence in the NSL and in women’s soccer as a commercial asset class at a time when institutional investment in the sport is accelerating.
The league delivered immediate commercial success in its inaugural season, attracting more than 275,000 fans across 80 matches and ranking near the top for worldwide average women’s soccer attendance, ahead of established leagues including Liga F and D1 Féminine. It generated over $30 million CAD in league-wide revenue before any media rights monetization. The league secured 16 national partners in year one, including Toyota, Coca-Cola, BMO, DoorDash and Canadian Tire. Broadcast partnerships with CBC and TSN reached more than 3 million Canadians, while ESPN+ expanded the league’s reach to audiences across the United States.
The investment will support the league’s next phase of growth, including commercial expansion, audience development, digital innovation, and international distribution opportunities in preparation for the next media rights cycle.
Christina Litz, President of the NSL, commented: “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 investment reflects APEX’s conviction in the structural growth of women’s soccer. The global women’s sports market has grown more than 3.5x since 2022 to approximately $2.4B, with women’s soccer’s fanbase projected to reach 800M by 2030.
António Caçorino, Founder & CEO of APEX, said: “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.”
Canada, home to the third-largest women’s soccer player pool in the world and the Tokyo 2020 Olympic champions, had no professional domestic league until the NSL launched.
The commercial opportunity that had been building for years now has a home. With the FIFA Women’s World Cup coming to Brazil in 2027, the spotlight on women’s soccer is only set to intensify, and NSL players are already among the leading contenders to represent Canada on that stage.
João Verol Marques, Partner and Head of Growth & Private Equity at APEX, added: “Women’s sports have evolved into a powerful, global product with undeniable momentum, and we at APEX believe the NSL sits at the intersection of that rise and Canada’s exceptional soccer legacy. With world-class talent developed domestically and proven on the international stage, the league has every right - and every ingredient - to become one of the top leagues globally. Building on the clear success of its inaugural season, we see a platform ready to grow, under the leadership of Christina and founder Diana Matheson, alongside APEX’s commitment to help unlock its full potential.”
This is the second 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. Together, the two investments reflect APEX’s deliberate strategy of accessing high-IP sports assets at an early stage of their commercial development. The firm has previously invested in the BWT Alpine Formula 1 Team, Venezia FC, Baller League, and TGL.
APEX’s Sports Growth Fund targets strategic positions in small-to-mid cap sports assets valued between €50M and €500M, focusing on high-IP properties with untapped commercial potential.
