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 early-stage companies while also generating attractive returns on investment.
The Long Beach Accelerator program 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 early funding specifically for the accelerator’s most promising entrepreneurs.
In addition to enable young startups to develop capacity and providing technical assistance with seed-round funding and a network of investors to identify and finance opportunities with capacity to scale, the program is expected to strengthen the area’s entrepreneurial ecosystem and attract top talent.
Structural angel investment firm Seraph Group will launch and manage the Seraph Long Beach I L.P. Fund, with Sunstone Management serving as a partner.
The new Seraph Long Beach I L.P. Fund will allocate up to one-third of its resources to Long Beach Accelerator entrepreneurs upon completion of the program, while the remaining two-thirds will be designated to funding other seed round startup projects in the City of Long Beach.
Led by John Shen, founding partner, Sunstone Management, with its subsidiary Sunstone Venture Capital Fund, is a diversified private capital management and investment firm offering comprehensive wealth management solutions to high net worth clients worldwide, in particular U.S. new-immigrant families. Focusing on investments in U.S. based small businesses and lower middle markets, its offerings are structured to meet targeted investor goals ranging from short term senior debt products to longer term, equity, growth capital and venture capital investment strategies.
Founded in 2004, Seraph Group is a structural angel investment firm that invests in high tech startups. With a network of over 300 successful investors from multiple industries in 100+ cities, the group invests in medical/life science, Internet, Aerospace, communication, semi-conductor, artificial intelligence, enterprise software, digital media and cyber-security.