NEW YORK--(BUSINESS WIRE)--Please replace the release with the following corrected version due to multiple revisions.
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SUNSTONE PARTNERS WITH LAIR EAST LABS ON STARTUP ACCELERATOR PROGRAM
California-based Sunstone enters the New York startup space
Sunstone Management has announced an exciting partnership with Lair East Labs (LEL) to support the next cohort of startup founders in the accelerator’s program.
LEL, recognized as one of the Top 100 Accelerators Worldwide by Crunchbase in 2019, focuses on startup founders expanding into the international market. Based in New York City, the LEL accelerator empowers founders to scale business in the U.S. and connect them with Asian market opportunities.
In an annual cohort each year, LEL supports 8-12 startups whose founders go through the accelerator program. In addition to advice from startup professionals across an array of fields, each cohort company will receive $75,000 to $125,000 due to the commitment and investment by Sunstone. LEL also uniquely offers its startups mentors and investors with knowledge of and ties to both Asian and U.S. markets.
“Sunstone believes in diversified, founder-focused investment and Lair East Labs is unique in its pursuit of that ideal,” comments Sunstone CEO and Managing Partner John Keisler. “We are thrilled to be partnering with LEL in an effort to bridge young innovators, mentors, investors, and startup founders in both U.S. and Asian markets.”
Jie Li, LEL’s Director of Operations and Partnership, added: “Founders face a relentless uphill battle, the partnership with Sunstone enhances our capital resource to continue working with innovators to meet the challenges of tomorrow. We support founders in building successful and sustainable ventures that solve global problems.”
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.
About Lair East Labs:
Lair East Labs is a startup accelerator based in New York that empowers founders to expand internationally. In the first five years of operation, our portfolio companies have raised over $40 million in funding after completing the accelerator. Our program combines the best of two worlds - learn from alumni founders of top Silicon Valley-style accelerators and gain access to a network of mentors and investors with extensive experience navigating the U.S. and Asian markets. In 2019, Lair East Labs was recognized as one of the “Top 100 Accelerators Worldwide” by Crunchbase.