Long Beach Accelerator Offers New $500K Direct Equity Investments for Startups
LONG BEACH, Calif.–(BUSINESS WIRE)–The Long Beach Accelerator has announced a new program offering half a million dollars to previous and incoming cohort members in direct equity funding for hiring talent and investment in other core business areas to accelerate growth. This capital program is exclusive to LBA cohort companies and alumni and is in addition to the $100,000 initial investment upon joining an LBA cohort.
The Sunstone LBA Hyper Growth Capital Program (LBA HGCP) is an economic development financing program that takes advantage of LBA and founding partner Sunstone Management’s global network of investors and venture capital, including access to the direct immigrant investor program.
The LBA HGCP goes above and beyond existing accelerators with this unique opportunity for startups with access to significant capital and intensely individualized, quality strategic advising provided through the LBA programming. All Long Beach Accelerator cohort companies and alumni will be eligible for the half million dollar direct equity investment.
Andrea White-Kjoss, Managing Director of LBA commented on the massive impact this will have on previous and incoming cohorts: “This investment demonstrates our accelerator’s unique and significant value to startups looking for a pathway to explosive growth and allows us to compete with more established Silicon Valley institutions.”
“Sunstone and American Lending Center are committed to investing in America’s innovative ecosystem and creating a diverse, unique competitive startup culture. This new funding opportunity will allow us to exponentially accelerate startups and create jobs for Americans across the country,” added John Shen, Founder of Sunstone and ALC.
About Sunstone Management: A Financial Times (FT) Americas’ Fastest Growing Company
Sunstone Management, with the Sunstone Venture Capital Fund, is a diversified private capital firm located in Southern California that invests in diverse early-stage technology entrepreneurs who demonstrate the promise to build great companies. We believe in the aspirational power of southern California to attract and inspire the most sophisticated investors and the most ambitious entrepreneurs in the world. We deliver new and exciting opportunities for economic growth through the creation of innovative public-private-partnerships, and our unique experience across government, education, and private sectors.