USC Star Caleb Williams Backs Women-Led Sports Fund From Monarch

University of Southern California star quarterback Caleb Williams is vying to be much more than a premier pick in next year’s National Football League draft.

Briefly trading in his football uniform, the Heisman Trophy winner put on his finance hat to become one of the latest backers of a new women’s sports-focused fund.

Monarch Collective LLC, a Los Angeles-based sports investment firm, has raised at least $109 million with plans to target assets in women’s sports including teams, emerging leagues and rights. Co-founders Kara Nortman and Jasmine Robinson began pitching for the oversubscribed fund in January and have now ...