August was a significant month for us at Sunstone, and full of Gold medals for the United States in Paris.
The U.S. took the title of the country with the most medals at the 2024 Paris Summer Olympic Games with 126. We tied China with 40 gold medals.
Crossing The Finish Line
Here at Sunstone, we completed the long race to prepare annual reports about all our venture funds. Thanks to the large team putting those reports together – Mike Stone, Jasmine Jiang, Sabrina Li, Jennifer Huang, Heather Lewis and many others. It was a great first-time effort, and one we hope to build on in the future.
Sunstone Advisors, LLC, an SEC-registered investment advisor, now has its very own website! Sunstoneadvisor.com has gone live. It includes a NAV investor portal, where investors can get information about their accounts and the funds they are investing in. We will be adding more content to the site as we go, but it is a great start.
August also saw the launch of a new program inviting investors in each of the various venture capital and fixed income funds to Sunstone HQ for regular updates. The first Investor Meet & Greet was Aug. 22 and featured Dr. Yi Chao and Seatrec. More dates will be on the calendar soon.
Consulting Steps Up
The buzz around our Sunstone Cities arm is growing in municipal government circles. Sporting contracts with Lakewood and Anaheim, the Sunstone Cities team provided a detailed proposal to the city of Glendale to help establish a startup accelerator there. Sunstone is one of the finalists for the contract! Thanks to Strategy Advisor Rich Jun for leading the charge and to economic Development Officer Jayro Sandoval and Associate Project Manager Ryan Phong for the presentation.
Sunstone Cities also is developing its own website. Check out its list of services – based on our core principle of public-private partnerships – here.
Climate Work
A new venture, Climate Tech Fund I, will be under Sunstone Venture Partners, LLC. The framework of the $50 million fund was put together in August, and will go through due diligence this month. This is an exciting effort to help improve the world we live in through cleaner energy as well as more efficient supply chains and distribution.
With the Ports of Long Beach and Los Angeles the single largest job generator in the Southland, moving up to 40% of the goods imported into the country, the Long Beach area is the ideal spot for the launch of this initiative. Innovation and technology will be needed to address the need for environmental change, and making that happen is an important goal.
Several public and private entities have become part of this Climate Tech initiative. It is yet another example of the Public-Private Partnership (P3) we try to emphasize in everything we do.
As we move into the fall months, the initiatives that have taken shape in August have set the table for our fall harvest. Thank you for being a part of that.
And as always, be a Sunstone.
©Sunstone Management, Inc. 2024