Sunstone Management Launches LBA Sunstone Fund I, Partners with Seraph Group to Launch Additional Seed FundRelease Date: 2019-08-15
LONG BEACH, Calif.--(BUSINESS WIRE)--Sunstone Management, a diversified capital management and investment firm based in Long Beach, Calif., has launched a new fund to facilitate the growth of startups participating in the Long Beach Accelerator™ program. The fund, designated LBA Sunstone Fund I, will offer investors an opportunity to aid exciting early-stage companies while also generating attractive returns on investment.
The Long Beach Accelerator program, the first of its kind in the City of Long Beach, is a public-private partnership between Sunstone Management, the City of Long Beach and California State University Long Beach. Expected to welcome its first cohort this fall, the accelerator will prepare early-stage tech startups to secure funding as well as provide valuable resources, including physical space, for participants. LBA Sunstone Fund I will provide critical early funding specifically for the accelerator’s most promising entrepreneurs.
“The Long Beach Accelerator program will provide entrepreneurs with the space and mentorship they need to develop,” added John Keisler, the city's director of economic development. “It is incredibly exciting that Long Beach will now have a place where technology entrepreneurs can exist and grow, and we are excited by the announcement of this new fund to offer crucial financial support to the accelerator’s startups.”
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