LB Living would like to thank Sunstone Management and Sunstone Community Fund for supporting LB Proud and its celebration of the vibrant and diverse Long Beach community last month.
One of Sunstone’s core values is supporting diversity. Their focus is early-stage startup companies founded by minority and underserved people, including the LGBTQ+ community. A prime example is their partnership with the Long Beach Accelerator and the dozens of new companies boosted by their involvement.
The majority of those companies are women- and minority-owned, and that includes all minorities. Diversity, equity, and inclusion (DEI) are baked into the Sunstone DNA. According to the first line in Sunstone Management’s corporate description, “Sunstone Management is a diversified private capital sponsor firm located in Southern California that invests in diverse early-stage technology entrepreneurs who seek to build great companies.”
The Sunstone Community Fund (SCF) is the nonprofit arm of the Sunstone operation – it is a Donor Advised Fund managed by the National Philanthropic Trust. It is an important component of Sunstone Management’s vision to advance public-benefit programs that support the development of inclusive and vibrant entrepreneurial ecosystems.
Their Community Fund works hard to build and promote the communities where we live – including Long Beach. It is the source for grants, sponsorships, and more to support a network of universities, nonprofit organizations, and government agencies that develop and implement university-based entrepreneurship programs, early-stage tech accelerators, and advance local economic development through inclusive entrepreneurship and innovation.
For example, in partnership with the California State University, Long Beach, Institute for Innovation and Entrepreneurship, the Community last month provided $25,000 for prize money at the Sunstone Innovation Challenge. Students who had worked for months developing business proposals presented their plan to judges in a “Shark Tank”-like competition, with hopes to win enough money and support to jumpstart a business.
The Community Fund was created just a year ago and already has made a number of one-time and multi-year grants in California and beyond. When making such grants and sponsorships, they always consider how the grants will help the community at large, and our underserved communities in particular.
Public donations are accepted and encouraged at the Community Fund to help continue this important work. To learn more about the Sunstone Community Fund, how you can contribute, or how you can benefit, contact Jayro Sandoval at Jayro.sandoval@sunstoneinvestment.com.
