Sunstone Management and National ACE Partner to Empower AANHPI Entrepreneurs
Collaboration Aims to Unlock Access to Capital and Foster Small Business Growth
January 29, 2024
WASHINGTON, D.C.
In a groundbreaking move to bolster AANHPI (Asian American, Native Hawaiian, and Pacific Islander) entrepreneurship across the United States, Sunstone Management, Inc., a leading private capital management firm, has joined forces with the National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE), a prominent organization advocating for AANHPI businesses.
This strategic partnership is a direct response to National ACE’s recent success in securing a $2.65 million, four-year grant from the Minority Business Development Agency’s (MBDA) Capital Readiness Program. The program aims to establish the Socially and Economically Disadvantaged Individuals (SEDI) Ready to Grow program.
Capital Readiness Program: A Catalyst for AAPI Small Business Success
The Capital Readiness Program, backed by the MBDA grant, is poised to provide AAPI-owned small businesses with the essential tools and resources needed to effectively seek capital through the State Small Business Credit Initiative (SSBCI) and other investment avenues.
Chiling Tong, President and CEO of National ACE, expressed her optimism regarding the program’s potential impact on AAPI entrepreneurs nationwide:
“We recognize the immense value of the Capital Readiness Program in empowering AAPI-owned small businesses with capacity building, development, and capital opportunities. As a key partner with MBDA, we are committed to bolstering AAPI businesses across the nation through an accelerator curriculum that expands access to capital.”
Sunstone Management’s Role: A Matchmaker for Capital and Entrepreneurs
Sunstone Management played a pivotal role in securing the grant for National ACE by submitting a proposal to serve as the matching capital funds partner. The firm not only provided the initial capital match fund for Year One but also committed to securing future matching funds to ensure the program’s sustainability.
Eric Romero, Sunstone’s director of economic development, emphasized the alignment between the firm’s mission and the goals of the Capital Readiness Program:
“Sunstone Management is thrilled to support National ACE’s Capital Readiness Program, which empowers AANHPI entrepreneurs and businesses to capitalize on the Federal government’s historic investment in small businesses through the State Small Business Credit Initiative 2.0. This collaboration aligns perfectly with our mission of enriching lives through investment and economic development, as it supports diverse entrepreneurs and fosters small business growth by providing tailored technical assistance and training to help them access capital.”
Focus on Underserved Entrepreneurs: Paving the Way for Inclusive Growth
Sunstone Management’s commitment to underserved entrepreneurs is a core principle that guides its involvement in the Capital Readiness Program, as CEO and managing partner John Keisler explained:
“National ACE’s new program resonates with our approach to supporting young, underserved entrepreneurs in launching and scaling up their businesses. We are excited to be part of this national effort to increase business opportunities, particularly where help is needed most.”
A Comprehensive Program: Nurturing Business Growth at Every Stage
The Capital Readiness Program offers a comprehensive suite of services to help AANHPI entrepreneurs navigate the challenges of accessing capital and growing their businesses. Key components of the program include:
- Incubator/Accelerator Hubs: Two hubs, one on each coast, will provide a physical space for entrepreneurs to receive tailored support and guidance.
- Business Advisors and Capital Advocates: Each hub will have four contracted professional business advisors and an SSBCI Capital Advocate to assist entrepreneurs with their specific needs.
- Eight-Week Business Accelerators: The program will conduct two eight-week business accelerators per year, focused on lender-readiness and pitch preparation.
- Networking and Learning Opportunities: Entrepreneurs will have access to numerous networking and learning events, including roundtable discussions with key elected officials and corporate leaders.
Sunstone Management’s Commitment to Innovation and Impact
Sunstone Management’s involvement in the Capital Readiness Program underscores its dedication to driving economic growth through innovative public-private partnerships. The firm’s track record of success in early-stage venture capital, real estate, and fixed income funds positions it as a valuable partner for National ACE in this endeavor.
Sunstone Management’s recognition by the Financial Times as one of America’s Fastest Growing Companies for three consecutive years and its ranking as the seventh most active early-stage venture capital firm in the country by PitchBook further validate its expertise in fostering entrepreneurial success.
About Sunstone Management
Sunstone Management is a diversified private capital management firm headquartered in Southern California. The firm provides a range of early-stage venture capital, real estate, and fixed income funds to qualified and accredited investors.
Sunstone Management’s unique experience across government, education, and private sectors allows it to deliver innovative investment solutions that promote economic growth. The firm’s commitment to public-private partnerships has resulted in successful collaborations that have made a positive impact on communities nationwide.
Contact Information
Jennifer Huang, Sunstone Management
(562) 732-0617