Spring sprang in May with the power of May the Fourth Be With You and that ultimate super hero, Mom. Sunstone was blossoming during the month with growth and initiatives.
Young Entrepreneurs Shine
The month began with an amazing day of innovation and fun at the fourth annual Sunstone CSU Startup Launch, this year at Cal State Dominguez Hills. This Sunstone initiative to bring together young entrepreneurs from across the California State University system has grown by leaps and bounds.
This spring, teams from 18 campuses gathered to compete for $200,000 in prize money through the Sunstone Community Fund. For the first time, an outside sponsor stepped up to assist when AnnenbergTech, an initiative of the Annenberg Foundation, contributed $25,000.
The year’s big winner was Concussion Coach from San Jose State. They are developing a small collision monitor to attach to helmets that could literally change the game when diagnosing and dealing with concussions.
Sunstone Academy
Sunstone Academy is designed as an educational series for investors and potential investors. It returned in April after a hiatus of nearly a year.
In May, the Academy session focused on the Fairmont Breakers hotel project in Long Beach. We had Thomas Saykaly of our broker-dealer Carolina Financial (Carofin) give a presentation about the private placement offering to become a part of this historic landmark restoration and reopening as a luxury boutique hotel. Sunstone Advisors is collaborating with Carofin in this effort.
Small Business, AANHPI Focus
May is designated Small Business Month and we marked the event by being part of the California Small Business Month conference in Long Beach sponsored by the state Office of the Small Business Advocate. I was honored to speak during the conference and moderate a panel with some great experts.
May also is Asian American, Native Hawaiian and Pacific Islander (AANHPI) Month – a time close to our hearts. We were able to spotlight our partnership with the National Asian/Pacific Islander American Chamber of Commerce at the small business conference.
Speaking of partnerships, at the end of the month we announced a new MOU with the Long Beach Accelerator that will refocus the next cohort of startups to emphasize climate/goods movement technologies.
American Lending Center Anniversary
Finally, on the last day of the month, we helped our sister company American Lending Center (ALC) celebrate its 15th anniversary. Our co-founder, John Shen, founded ALC in 2009 in Long Beach with just three employees. There are 60 people on the ALC payroll now, with international offices included.
As you can see, May was an exciting month – and we expect more of the same in June! Thanks for sharing it with us.
And as always, be a Sunstone.
©Sunstone Management, Inc. 2024
More About Sunstone Management
Sunstone Management is a diversified private capital sponsor firm headquartered in Southern California. Identified by Financial Times as one of America’s Fastest Growing Companies three years in a row. In the latest Pitchbook rankings, Sunstone Management was #15 in the third quarter of 2023 nationally, and #18 in the fourth quarter.1
Note: Investment advisory services offered through Sunstone Advisors, LLC, an SEC registered investment adviser. The information does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and are not guaranteed.