Welcome back to The Sunstone Way.
It was an honor and pleasure to be a sponsor and host at last week’s Irvine Tech Week. It comes as no surprise that conversation topic number one was the fallout from the Silicon Valley Bank collapse.
I had the opportunity to address Sunstone’s immediate response to the situation several times over the five-day event. That response is simple, really. It follows our philosophy of investment, entrepreneurship, and community.
We continue to be founder focused, and we’ve reached out to the Sunstone community of founders, investors, accelerators, and friends to better see where they stood in terms of working capital. That’s an issue both in the short-term and the long haul because the reverberations from SVB and uncertainty in much of the banking community will last for quite some time.
Keeping Startups in Business
It’s key to our founders – and to us – that we bring our community even closer together as we work through these issues. We want them to keep working on their cutting-edge ideas, but we also want them to keep up with the business of staying in business. Sunstone is here to help make sure they are aware of their options and to help direct them to capital to do just that.
It’s no secret that investment capital is going to be harder to come by in the short term. It’s also an axiom when starting a new business that it takes time to find enough customers and revenue to cover operating costs.
So where is the credit line going to come from? Sunstone is at work as we speak making even more connections, talking with financial experts including those at our sister company American Lending Center. We expect to have news soon.
Moving Forward with New Startups
Even while the banking situation shakes out, the Long Beach Accelerator partners are preparing another cohort of founders to jump into the world. These eight sets of promising early-stage entrepreneurs will be presenting – at two Demo Days next week – live on Tuesday, April 4, then via Zoom on April 5. They’ve been supported through the accelerator, and we will be watching.
In fact, at Irvine Tech Week last week our own Jasmine Jiang was one of the judges for the Techstars StartUp Weekend final panel. We plan to continue to be part of the startup environment.
In other words, we’re focused on bringing our community together, bringing our partners together, and adding partners to our community. That’s the Sunstone Way.
Let’s make entrepreneurial dreams come true.
More About Sunstone Management
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. We believe in the aspirational power of the American economy to attract and inspire investors and entrepreneurs from throughout 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. Identified by Financial Times as one of America’s Fastest Growing Companies three years in a row.